Non-fungible tokens or NFTs as they are more commonly known, are digital assets such as art, trading cards, collectibles, and even virtual pets. What makes NFTs so appealing to collectors is that because they are non-fungible, no two are alike. Rarity and scarcity are inherently built into NFTs. Also, because they are on the blockchain, their authenticity can be easily verified.
NBA Top Shot is a collaboration between Dapper Labs, the creators of Top Shot, and the National Basketball Association. These digital trading cards are licensed highlight clips, called moments, from NBA games. These highlights are packaged and sold in digital packs that allow collectors to own a numbered version of the highlight. Collectors can keep, sell, or trade their highlights amongst other Top Shot collectors.
Everyone can see which Top Shot is selling for the most. We wanted to look at transactions to see which one had exchanged hands the most – as a proxy for popularity.
The most traded Top Shot moment features Cole Anthony. Anthony is currently in his rookie year with the Orlando Magic. This moment has been sold 9 times – most moments have been resold just once.
Highlights are typically sold in packs ranging from $9.00 to $230.00. Depending on the player, highlight, or the scarcity of a particular moment, Top Shot prices can skyrocket. Case in point: A LeBron James moment recently sold for over $70K. Some asking prices are now in the 6 figures.
The sports memorabilia market is currently a $5B industry. Looks like NBA Top Shot is poised to take its shot for a share of that market.