What is NBA Top Shot and why should you know about it?
For the first time, the NBA has entered into a licensing deal backed by blockchain technology. After being launched late last year, Top Shot has gained traction with more than 66,463 users who have bought in and spent more than $78 million in the process.
The project is generating explosive valuations and flowing returns back to the league, the players association and Dapper Labs, the Vancouver-based company that created Top Shot.
Dapper Labs is also the creator of CryptoKitties, the world’s most successful blockchain game. Notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, Alphabet’s GV (formerly known as Google Ventures), and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others.
Got your interest? Well, there’s even more to NBA Top Shot.
Dallas Mavericks owner Mark Cuban has bought some Moments, including some of his players in action.
“To so many the idea that a CryptoAsset could be a store of value is crazy. To them, there is no ‘there,’ there. There is no intrinsic value. To them it is a digital representation of nothing, that crazy people are paying good money for. That is not the case,” Cuban wrote on his blog.
“Some people might complain that I can get the same video on the internet anywhere anytime and watch it. Well guess what, I can get the same picture on any traditional, physical card on the internet and print it out, and that doesn’t change the value of the card.”
And if that’s not enough… consider this:
Since its launch, the company has registered more than $30 million in sales by the end of January. Well it’s February now and today that number is already more than $71 million for the past 30 days. That’s more than all of the other crypto colleclable marketplaces put together.
What sets the NBA collectibles apart?
- The most important attributes in terms of value are player awareness, teams, series, type of tiers, and sets.
The top three players to watch in 2021 are LeBron James, Giannis Antetokounmpo, and Kevin Durant. For instance, LeBron James’ legendary moment floor listing price is $79,999. While the highlight of Giannis Antetokounmpo is priced at $74,000 and Kevin Durant’s is $69,999.
- Another important element is the serial number. For example recent sales of the same LeBron James moment. The #1 serial number was sold for $71,455, while #47 for $48,000, or less than half.
- The next important aspect to consider while valuing NBA Top Shot NFTs is the series.
Series 1 indicates the time scale between October 2013 – October 2020
Series 2 indicates December 2020 – till now
Like any card collectibles, the trend at the moment is the older, the better. In the future, we can expect moments from the first series to be the most valuable ones.
- All highlights are created across four different tiers: common, rare, legendary, and ultimate (available at a future date).
The common edition size fluctuates from 1,000 plus
The rare tier edition size fluctuates from 150 to 999
The legendary tier will have a minimum of 25 to 99
- Lastly – Sets are another key factor to take into consideration. Sets describe a theme according to which moments are curated.
Throwdowns: Face-ripping slam dunks
With the strip: Steals. Long arm and quick hands that would pick anything out of your pocket
So Fresh: Most elite plays from the NBA 2019/20 season restart in Orlando
Rookie Debut or Conference Semifinals
The most important question is – how can you get in NBA Top Shot?
Anyone can register on the main website and access the marketplace. The real deal is getting your hands on packs at the exact date and time they drop. That is your best and cheapest access point to constantly appreciating NFTs, or as the NBA calls them – moments.
25,000 users participated in NBA Top Shot’s “Legendary Drop” on February 6 for 2,300 cards. More than 60K users tried to purchase 45K cards this monday, on the 15th of February. As you can easily guess, not everyone that wants to buy gets in line, and even less get to buy the packs.
Make sure you don’t miss out on the hottest NFT market in crypto and the new age of card collectables.
Lucky for you – we are one of the few consultants out there that can actually help you understand and find out when new packs are going to get dropped and how you can get in line to successfully purchase packs.
Contact us today to get updates and timely notifications for any future drop. More than that – we can even buy packs for you and you can also hire our consultants to build collections for you, saving you valuable time and giving you an extra advantage on the marketplace!