What is NBA Top Shot?
NBA Top Shot is one of the most important NFT collections that can recreate the experience of basketball trading cards on the blockchain by selling packs of NFTs on the Flow blockchain. The selling packs of NFTs are called Moments. This has been launched in October 2020 and has seen an all-time sales volume of more than $800 million.
The NBA Top Shot NFT project is a partnership between the NBA, the National Basketball Players Association (NBPA), and blockchain company Dapper Labs. The brain behind this initiative is Roham Gharegozlou, the CEO of Dapper Labs.
The price for the Top Shot Moments on the secondary market depends on several factors, such as rarity, Moment’s token ID, and the number of editions of the specific Moment. The value of a specific Top Shot Moment can be determined with several tools like MomentRanks and Evaluate Market.
How does NBA Top Shot work?
Blockchain technology
A non-fungible coin (NFT) called Individual NBA Top Shot Moment is present on the flow blockchain. Blockchain verifies that you own a specific moment, any kind of forging is prohibited.
Purchasing packs
Just like buying traditional cards, you can purchase packs that contain random moments from the NBA Top Shot website.
Market place
Packs can also be purchased from fellow users in the Top Shot marketplace. Price will vary depending on the rarity and significance of the highlights.
Digital wallet
The purchased packs are stored in the user’s digital wallet on the NBA Top Shot platform. These moments can be utilized for sale or to trade with others.
There are four types of moments. Let’s see how these moments work.
1. Legendary moments
These moments are the rarest of the rarest, only 0.09% of the total available moments. These moments are much more expensive than other moments.
2. Rare moments
Rare moment features historical plays from NBA legends. As the name suggests, only 1.6% are available out of the total moments.
3. Fandom moments
These moments will be available in real-time to only those users who were available in the arena.
4. Common moments
These are easily available moments and way cheaper than all others, comprising 95.8% of the total moments.
There is also a fifth category which is called the ultimate moment, this moment is achievable only via auction.
How do I buy NBA Top Shot Moments?
Check out this step-by-step guide to know how to buy NBA Top Shot Moments.
Step 1
Visit NBA Top Shot’s official site and set up an account.
Step 2
Browse the marketplace, you can explore a variety of moments here (legendary moments, rare moments, fandom moments, and common moments).
Step 3
Choose any of the pack types. The common moment is the beginner-friendly pack whereas legendary packs are the rare ones.
Step 4
Purchase the desired moments or packs. Most of the major credits are accepted here.
Step 5
Moments will be added to the digital collection, start enjoying the iconic play or recent game highlights anytime.
Step 6
NBA Top Shot Moments can be enjoyed in various interactive ways such as for the generation of new games and as a mobile gaming platform.
Also Read: Bitcoin Mining At Home: Everything You Need To Know
Conclusion
Purchasing NBA Top Shot packs totally depends on the individual interest and investment objectives. If you are a hardcore basketball enthusiast, NBA Top Shot is the best way to connect with your idols. Once you are part of that community you can freely interact with them and you will also get ownership of digital highlights. If you resell rare moments you will get financial gains also. Whenever you deal with money, you should be doubly cautious since the market is volatile. Before taking any step, understand the platform very well and the market dynamics. Invest only that you are willing to lose.
FAQs
A. NBA Top Shot is owned by the Canadian company Dapper Labs. It has additional collaboration with other branded NFT markets such as NFL All Day, UFC Strike, and LaLiga Golazos.
A. Yes, NBA Top Shot is a safe NFT market with a beginner-friendly user interface.
A. NBA Top Shot beta mode was launched in October 2020.