NBA Top Shot is a NFT project from Dapper Labs on the Flow blockchain, which can be called a marketplace for short videos with the best moments from NBA games presented in the form of unique collectibles, non-fungible tokens (NFT). Perhaps, we will start our review of NBA Top Shot with the main points.
About the creators of the marketplace
We will start our review of the NFT marketplace NBA Top Shot with the history of its creation. The NBA Top Shot project was launched in October 2020. The NBA has partnered to create the first exclusive collection of NBA digital assets with Dapperlabs. This company is the creators of the CryptoKitties collectible game and the Flow blockchain. The development team is not directly related to the NBA, but it works under their license. That is, they have all the permissions to use the NBA label and intellectual property. They released their beta at the start of the 2020-2021 basketball season. And since then, at the time of writing, the popularity of the platform has only grown.
Marketplace NBA Top Shot in numbers
Data is for the last 30 days at the time of publication.
- According to DappRadar NBA Top Shot №2 among Flow blockchain marketplaces;
- Sold for $230,023.00 Lebron James card on August 25, 2021. This is the most expensive sale in the history of the marketplace;
- Sales volume $ 6,520,310.83;
- Traders 34 661;
- Sales 323 495.
- NBA Top Shot is implemented on the FLOW blockchain. The blockchain has unique features and its own token of the same name.
- A unique resource for sports fans, which has no serious competitors today.
- Authorization through your Google account
- You can pay with dollars and two cryptocurrencies: Ethereum and FLOW.
Why NBA Top Shot is popular?
And this is a very important question in the NBA Top Shot review. At first glance, the project could be called dubious, because all these best moments from the games you can just watch on Youtube, you can cut your favorite NFT and save them on your computer, making your own collection, which is likely to be of little interest to anyone. So, what is the uniqueness of the project?
- Firstly, the project is officially licensed by the NBA, which certainly gives it weight. Each token holder officially receives digital rights at some point in the game and therefore adds something unique to their collection, which they can dispose of at their own discretion.
- Secondly, from the above and from the nature of the NFTs themselves, it follows that the tokens are unique, which means that their release is limited, in this case, the number of the best NFTs from the NBA games and the circulation of each of them. Also, do not forget about the gradation of game moments by rarity.
How to register on the NFT- marketplace NBA Top Shot?
Click on the «Sign up» button.
So, you can register on the site using your Google account. By registering on the NBA Top Shot website, you are actually opening an account on the Dapper Labs platform. It is the account on Dapper that serves as a profile on the site. You also need to know that all transactions are also carried out through Dapper, the platform acts as a wallet.
How to buy NFT on NBA Top Shot?
Perhaps this is the key question in the review of the NBA Top Shot marketplace. The main value on the platform is, of course, NFT tokens (they are game moments, someone calls them cards, and so on). These game NFTs are packaged in individual limited-edition collectible tokens, and we are interested in how they can be obtained. There are 3 ways:
There is an exchange of primary collections. The project team itself places sets of cards there. In constant access there are starter kits from $9. And also, if you follow the news, you can catch rare sets. At the moment, in order to receive new packs (this is called drops), entire queues are «Lined up». In addition, the section has the tabs «In stock» and «Sold Out».
To buy a collectible set, you go to the pack page and click «Buy now» or «Get my starter pack now» (if you buy a starter kit after registration).
After that, all that remains is to pay for your purchase. To do this, you can pay with the cryptocurrency «Pay with crypto» or with a bank card «Pay with credit card».
At the moment, the cost of new packs is $9-14, but it is worth taking into account the growing demand of the platform and the fact that this is still only a beta, which has already attracted more than 240 thousand users.
You can always go to the marketplace and, without waiting for the release of the packs, purchase the NFTs you like in order to trade them freely later.
Hover your mouse over the Marketplace tab to go to a list of all NFTs, and then filter them using the Filters button or use the search bar. In principle, the interface is intuitive, as on any similar platform.
Let’s take a closer look at any of the NFTs.
On the page you can find all the details of the NFT, namely the basic information “Collectible Details”, statistics on the game moment “Highlight Stats”, player statistics (height, weight, age, where and when born and draft) “Player stats” and history sales “Recent sales history”.
Important! Pay attention to the circulation (indicated above the price). Each game NFT token has a certain circulation, the smaller this number, the higher the cost of NFT.
Participation in Challenges
Also, to get new NFTs, you can participate in time-limited Challenges. In this way, you can win rewards in the form of free NFTs.
By going to Challenges you will find all the current draws. The requirements in them are the need to have certain NFTs in your collection.
That is, you must purchase some specific points indicated in the challenges and hold them until the end of the test in order to receive a free reward. At the bottom of the page, the points that you must collect in order to receive a reward will be displayed.
How to sell NFT on NBA Top Shot?
Selling various NFTs on the marketplace is intuitive. You just need to set a price in your profile and put the NFT up for sale. Further, all doers can place their bets. After that, you only need to confirm your favorite bet.
Rarity and limited collection
In order for the collection to have additional value, there is a distribution of moments by rarity.
Today there are three types of rarity:
- Common tier – ordinary NFTs, the release of such NFTs was previously limited to 10,000 or more. The price of NFT data can range from $1 to $5,000 and is affected by the serial number and other details. For example, a player from a moment might be more popular than another player from a moment with common rarity. At the time of writing, such NFTs make up 95.8% of the total number of moments on the court.
- Fandom tier – a level that occupies an intermediate position between common and rare. The project team created this level so that the supply of NFTs is determined by dynamic demand, and not by serial numbers and circulation. At the time of writing, such NFTs account for 2.5% of the total number of moments on the court.
- Rare tier – rare NFTs, the release is limited to a range from 500 to 4,999 pieces, the price can vary from $150 to $15,000. At the time of writing, such moments make up 1.6% of the total volume of moments on the site.
- Legendary tiers are the rarest NFTs at the moment, their emission is limited to 50 – 499 tokens, at the time of writing the highest price on the marketplace was $240,000. At the time of writing, such moments make up 0.09% of the total volume of moments on the site.
Life hacks when buying and selling NFTs
- When buying/selling a moment, you need to take into account the serial number, if it matches the player’s number, then the cost of such a moment will be higher. Also, numbers up to 100 or up to 1000 are more expensive than others, depending on the circulation.
- It is worth noting that the circulations are not small for the usual limits of collectibles, especially before the limits were different, namely «Common» – from 1,000 to 12,000, «Rare» from 150 to 999 and «Legendary» – from 50 to 499 It can be seen that the developers increase the limits with the advent of new users, which may affect the price reduction in the future if this trend continues.
- Sometimes the number of moments, although limited to a certain circulation, in fact, some of the NFTs may be at the disposal of the developers. If they are not scheduled to be distributed, and they are not involved in any events, then developers can burn all these tokens to further reduce the supply.
In the review of the NBA Top Shot marketplace, we cover only the commission of the marketplace itself, but do not forget that separately all participants pay commissions for transactions. You can read about them here.
Each sale made on the NBA Top Shot marketplace is subject to a 5% commission. For example, if you sell Moment NFT for $10.00, the seller will receive $9.50 on their Dapper balance.
There are no fees for listing or deleting Moments on the Marketplace.
At the end of our review of the NBA Top Shot marketplace, let’s say that now around NBA Top Shot you can observe high user activity, large volumes of transactions. This means that with a smart investment, there is every chance to earn money, especially if you are an NBA fan or want to become part of this community.
You can also read our other reviews about NFT marketplaces: