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    What is the NBA Top Shot NFT collection?

    What is the NBA Top Shot NFT collection?

    What is the NBA Top Shot NFT collection?
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    By CNBCTV18.com  IST (Published)


    You can now purchase or sell the epic chase-down rejection of LeBron James, Robert Williams' punctuation with a slam, or Michael Carter-Williams' 2013 dunk – Top Shot has made it possible to trade in these special game memories.

    Did you know you could buy, sell, and trade NFTs based on some of the most iconic moments in NBA history? It’s possible thanks to NBA Top Shot, a blockchain-based platform that is tokenizing famous highlights from one of the most loved and followed basketball leagues in the world.
    Be it LeBron James' epic chase-down rejection, Robert Williams' punctuation with a slam, or Michael Carter-Williams' 2013 dunk – Top Shot has made it possible to own, sell and trade these special game memories.
    NBA Top Shot was created by Vancouver-based Dapper Labs in partnership with the National Basketball Association (NBA). For the unacquainted, Dapper Labs is also the company that founded the popular blockchain-based game Crypto Kitties.
    What is the NBA Top Shot NFT collection?
    NBA Top Shot is an online marketplace where you can buy and sell NFTs that represent the most iconic in-game highlights of several NBA players. Each NFT is a video clip called a ‘Moment’. These Moments are licensed by the NBA and contain the game and player stats and a unique serial number. The rarer and more iconic the moment, the higher its value and the price it demands. The platform also has moments from other basketball leagues, such as the NCAA and WNBA.
    These digital cards are minted in packs. Each pack contains different moments of varying rarity – just like a physical pack of trading cards. The packs themselves also vary in rarity. Base packs usually contain common cards that sell for as little as $9. On the other hand, rarer packs contain special moments and sell for upwards of $250. An example of a rare pack would be the All-Star Series, a set that features the Top Shot Moments from some of the best NBA players of all time.
    As mentioned earlier, each card also has a serial number. A lower serial number means that there are fewer copies of that card in existence, making them more sought after. For instance, a LeBron James Dunk with a serial number of 6 would be way more valuable than a Damian Lillard moment with the serial number of 12.
    You can purchase an NBA Top Shot as soon as the moment occurs live. However, you need quick hands as these NFTs are issued to users on a first come first served basis. You will be queued-up based on the time you took to click on the link as it appeared on the NBA Top Shot website. The platform also adds new moments every week or so in case you miss the live drop. You can also purchase cards from other users on the Top Shot marketplace. And as of September 2021, it had over 1 million registered users.
    How to buy NBA Top Shot Moments?
    Buying an NBA Top Shot is extremely simple; all you have to do is follow these three simple steps:
    • First, you need to sign up on the NBA Top Shot marketplace.
    • After verifying your account, you can proceed to purchase your preferred NBA Top Shot.
    • You can also purchase a Dapper Wallet if you wish to hold your cards for the long run. However, this is optional as you do not require a wallet to transact on NBA Top Shot. You can make purchases using a debit or credit card as well.
    • Can you make money on NBA Top Shot?
      Good question. As you already know, epic moments sell for epic prices, and such cases are aplenty. The value of a Moment depends on its supply and demand. Any Moments generated in larger quantities won’t be worth much. However, rare cards generally appreciate in value. Therefore, holding on to a rare pack could fetch you handsome rewards in the future. For instance, a LeBron James dunk once sold for $208,000 on 22 Feb 2021.
      This is a partnered post. 


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