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The NBA Top Shot is a cryptocurrency-based platform that has risen rapidly in popularity in recent months. The platform has registered sales worth $31 million since it went live in October 2020. Additionally, the virtual cards/video highlights can either be bought and sold or simply showcased on the Marketplace, with some going for over $100,000!
The virtual cards can be printed out in the form of posters, and are allotted Non-Fungible Tokens (NFTs) for proof of ownership and authenticity. With various Top Shot Moments featuring innumerable NBA veterans, rising stars and rookies, fans across the world have been rushing to get their hands on the packs.
The official video highlights act as both a souvenir and as digital assets that have only risen in value since they were introduced. Tyler Herro is the brand ambassador for the NBA Top Shot Platform.
How to acquire NBA Top Shot packs?
Currently, there are only two ways to get your hands on specific NBA Top Shot moments.
Firstly, the NBA Top Shot website allows users to buy different types of packs that are dropped at varying times during a day. Fans can register their email IDs in order to receive live updates, including announcements related to different types of drops.
The alternate method for NBA fans to get their hands on specific Top Shot moments is to buy or trade them off the official Marketplace. Collectors can showcase specific moments that can then be bought by other collectors. It is here that the monetarily crazy sales have taken place in the past few weeks.
The packs themselves are divided into three different tiers: Common ($9), Rare ($22) and Legendary ($290).
The Common packs include 9 common moments, while the Rare tier of packs include 7 common moments and one rare moment. The Legendary tier includes 6 common moments, 3 rare moments, and 1 legendary moment.
The number of packs are limited. This has been done by Dopper Labs to maintain scarcity, leading to a frenzy of fans all over the world rushing to get in each time a drop is announced.
The Marketplace has recently shot up in the total value of sales that are taking place on a daily basis, as can be seen in the above tweets. A 1986 Michael Jordan Rookie card has shot up to around $739,000 in value, with the overall value of sales only set to increase in the coming months.
As mentioned above, there are currently two ways to buy packs. Players can rush in to get their hands on the drops that are announced on a daily basis, or buy specific moments from the Marketplace for inflated prices.
Guess the Lakers players!
