What Is NBA Top Shot? How to Get Started Collecting NBA NFTs
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He is on pace to surpass Kareem Abdul-Jabbar as the league’s all-time leading scorer sometime in February, perhaps before the All-Star Game. James has been a captain in all five All-Star Games that used that format, and his teams beat Durant-captained Eastern outfits in 2020 and 2021. Spin it back in time and celebrate one of the greatest seasons in WNBA history. On WNBA Top Shot, you will be able to own a part of these players’ history.
Go to nbatopshot.com and register with an email account or choose your Google account for a quick sign-up. All Moment NFTs are minted on the Flow blockchain with a link to a special-event video, although the videos themselves are stored off-chain. Denver’s two-time reigning NBA Most Valuable Player Nikola Jokic is second to James in the West with James’s Lakers teammate Anthony Davis third .
First Round: DEFENSE WINS
Like all NFTs, a Moment is only worth what a buyer is willing to pay in the secondary market. Rare Moments from top players can go for hefty sums, while others sell for just a few dollars. Buy my first starter packPurchase not required for entry. The NBA and Bakkt Ceo Confirms Firm Has No Plans To Support Xrp are partnering up to create groundbreaking, 1-of-1 NFTs for each of the league’s 30 teams. Designed for the ultimate fan, these NFTs provide the owners with unprecedented, VIP access to the next 5 NBA All-Stars, starting in 2023.
- Buy my first starter packPurchase not required for entry.
- NBA Top Shot is an online company launched by Vancouver-based blockchain company Dapper Labs, and backed by the NBA, that allows users to procure a collection of digital basketball highlights, and then show off that collection to others.
- NBA Top Shot is where basketball lovers come to celebrate, relive and collect the best plays they’ve ever seen.
- “I’m interested in markets, crypto, and the NBA, so Top Shot is at the intersection of all of these interests,” he said.
The platform is run using Dapper Labs’s Flow blockchain, and gives users the ability to trade digital assets based on video clips from NBA games. The Flow blockchain supports transactions on a range of other sports NFT marketplaces, like NFL All Day and UFC Strike. Each “Moment” is like a digital version of a trading card. Simply put, a Moment NFT is licensed by the NBA and minted with a unique serial number that includes game and player stats.
Join our multi-city series with stops for NBA fans and collectors around the world. That said, the values of most collectibles, including NFTs, tend to be volatile. After all, a LeBron dunk NFT could be tomorrow’s Beanie Babies.
What is NBA Top Shot?
It’s what initially drew many to the process, including Alex Xu, a member of the founding team at 0x.org, a not-for-profit that helps developers build their own decentralized cryptocurrency exchange. Potential for financial gains aside, those who are truly passionate about NBA basketball and collecting Moments of their favorite players and game highlights have the potential to benefit from the sheer joy of the pastime. As with any investment, it’s entirely possible to lose money on NBA Top Shot’s NFTs. Some collectors have reported purchasing packs, then discovering the Moments inside are worth less than the cost of the pack itself. In addition, there are no guarantees that a seller will be able to sell their Moments to a buyer willing to pay the asking price.
If you show up to the NBA Top Shot Tour experience, you will be eligible to purchase up to 2 packs via an exclusive allowlist in the days following the event. Dapper Labs designed NBA Top Shot with people new to cryptocurrency and NFTs in mind. You don’t need to know anything about blockchain or crypto investing to use the marketplace.
All transactions on the marketplace are done using flow, the cryptocurrency that powers NBA Top Shot. There are a few ways to obtain NFTs on Top Shot The most common methods are through packs under drops or by purchasing packs or Moments individually in the marketplace . If you’re lucky enough to secure a Top Shot pack, make sure to pay attention to the serial number attributed to each moment you open.
Should You Buy Top Shot Moments?
And some of those highlights might be limited to just a few “printings,” which drives the price up. Using blockchain technology, fans can buy and sell NBA video highlights that are licensed by the league. Still, the digital asset industry’s woes have spooked sports teams, leagues, and athletes — who maybe shouldn’t have been involved with a questionable nascent technologies — into ending deals, including the Miami Heat dropping FTX as its arena sponsor.
First, you need to sign up and get verified on the official NBA Top Shot marketplace. You can go online and print a copy of the Mona Lisa, but it’s nowhere near as valuable—or prestigious—as owning the real thing. It’s that pride of ownership that sets NBA Top Shot Moments apart. We’re sending Top Shot collectors to every single game, from Game 1 through the end of the NBA Finals. While in New Orleans, a tenacious young Pelicans core pushed the defending champs to 6, and a high-energy Toronto effort fought off elimination for 2 games against Philly.
Want a chance to get VIP access to the next five years of NBA All-Star? Create an NBA Top Shot account or log in to yours now for a chance to win the experience of a lifetime. And after every 2022 NBA Playoffs pack drop, she’ll be adding her commentary to her favorite plays from each drop. NBA Top Shot is where basketball lovers come to celebrate, relive and collect the best plays they’ve ever seen.
“When I heard of Bitcoin And Regulation in January, I bought a pack and the nostalgia immediately hit. As an NBA fan, owning specific moments from my favorite players was a concept that was so cool. I’ve been collecting moments ever since.” On Sunday, there was a rare pack drop and well over 100,000 users turned out to purchase one of 31,000 packs for $199. But the way this works is that you own an officially licensed highlight like you would own a trading card.
So, getting a Moment that’s 1 in 49 is more valuable than one that’s 1 in 11,000. NBA Top Shot is an NFT marketplace where sports fans can buy, sell and trade basketball video clips. With Moments split between Challenge Rewards and the pack drop, the second 2022 Playoffs drop captured prime time & rotation players going off when their teams needed them most. Moment™ NFTs are a tribute to the best of basketball, capturing milestone achievements and viral highlights from the first game to the Finals, telling the story of your team. Every Moment falls into its own tier of scarcity, from Common — where over 50,000 NFTs can exist — to Fandom, Rare and Legendary, the most exclusive, with fewer than 99. A marketplace is a place where you can buy and sell Moments with other members of the community.
THE ROAD TO THE FINALS
Digital collectibles and assets — cryptocurrencies, non-fungible tokes, exchanges, etc. — have been in the headlines for months and mostly for bad news. Where the financial impact features more broadly is in the skepticism some have expressed over this product. Packs will contain one moment and cost $49.00 USD per pack. The NBA Top Shot Tour experiences are complimentary to collectors. We will have a limited number of tickets available to be given away at each game. To enter for a chance to win tickets from NBA Top Shot, RSVP to the event on each respective event page by November 18, 2022.
No one should expect to make money from the picks and predictions discussed on this website. If you or someone you know has a gambling problem, call GAMBLER. Your favorite teams, topics, and players all on your favorite mobile devices. If you don’t have an Uk Cryptocurrency Regulations account, you can make one in a few minutes on the official website.
The court of public opinion also will continue to play a major role in the future of NFTs and digital assets. While what’s occurred with FTX and other companies is separate from Dapper Labs, the public often lumps digital technology firms into a single problematic category that’s hard for individual players to emerge unscathed. NBA Top Shot, minted on the Flow blockchain that’s said to be less of an energy hog, has done just over $1 billion in all-time sales — mostly on the secondary market — since its debut in private beta testing in 2020.
And it’s not been getting any better, particularly in the wake of crypto exchange FTX, which spent lavishly on sports marketing deals, collapsing entirely and so-called currencies such as Bitcoin tumbling in value. Take Josh Bhagratie, for example, who as a founder of his own clothing brand and someone who works in basketball media, loves the products built around the sport. You cannot purchase packs for other NBA Top Shot collectors. If you’re a true NBA fan and you’re willing to hedge your bets on the future success and popularity of the players, the Top Shot marketplace and NFTs, then investing in this new crypto craze could be for you. The price of collectibles in many categories, including NFTs, has seen major spikes higher in recent years.
Over the weekend, there were three separate drops and scores were turned away from the opportunity to purchase one of 61,000 common packs for $14. A couple were resold for up to $9,000 at the end of the month. “Growing up I collected Pokémon cards and I’ll never forget the thrill of opening a pack, hoping for a holographic Charizard,” Xu told CBS Sports.
Top Shot’s Community and the Holiday of Hoops
Big Blue Drew, for example, purchased his moment, a Keldon Johnson dunk from earlier this season, for $ though the actual sale went through for $90 — while other highlights can be available for much, much less. Like all NFTs, NBA Top Shot’s Moments are only worth what someone else is willing to pay for them. On their own, they have no real intrinsic value—basketball fans drive the prices. It’s impossible to predict when prices will fluctuate, rendering some formerly valuable Moments worth much less.
