NBA Top Shot and the Evolution of Trading Cards
Why are Lebron James highlights selling for thousands of dollars online? 😱
Sports card collecting is having a moment not seen since the 1970s and 1980s.
Last year, we witnessed a boom in the sports card collecting industry.
Now let’s talk about something even more interesting. 👀
What is NBA Top Shot?
NBA Top Shot is a blockchain platform for NBA-licensed digital collectible highlights created by Dapper Labs, the team behind Cryptokitties.
Every highlight in Top Shot is called a “moment.”
Above, is an INSANE dunk from classic 2014 Paul George during his breakout season. You can now own it on NBA Top Shot.
Guess what???!!
Last year’s Lebron James Kobe tribute dunk was sold yesterday for a record $47,500.😱
Why?
It’s a serial number 23 (jersey number) Lebron moment with only 59 that will ever exist in the From the Top set.
Surprisingly, NBA Top Shot is still in beta but has total sales over $13 million with more than $5 million in marketplace sales during the past seven days.
Today’s 24 hour trading volume is about $2 million and growing!
Yes, people are spending $2 million in one day for video highlights…
NBA Top Shot has gotten the support of NBA Champion Javale McGee and Kevin Durant’s Boardroom.
As well as NBA Slam Dunk champion Aaron Gordon.
According to three-time NBA champion and tech entrepreneur, Andre Iguodala:
Blockchain technology has the potential to revolutionize consumer ownership on the internet.
Fans are now able to own a part of the game and support their favorite players.
Projects like Dapper Labs’ Flow is already driving consumer adoption, with NBA Top Shot proving the experience is not only engaging, but smooth and fan friendly.
So why are people spending millions of dollars on video highlights that we can all watch on YouTube? 🤔
Well think about this…
Why do people collect trading cards?
However, the issue with traditional trading cards is that they would just sit in your closet and collect dust. They are also easy to counterfeit and very difficult for collectors to track their correct total supply.
NBA Top Shot solves these issues by incorporating every moment on their Flow blockchain.
That means you’ll be able to trace the origins of your collection.
Everything is traced and proven on sites like the Topshot explorer and every play is assigned an ID.
If you don’t understand how the blockchain works, we suggest you sign up for our free intro to crypto course: 🧠
The most expensive Lebron James moment is currently on sale for a minimum of $64k and only 49 will ever exist. The NBA Top Shot team can never make more and the collectors are able to prove the authenticity of every one of their moments since it’s all verified on the blockchain.
This allows anyone to sell their moments on the NBA Top Shot marketplace without the need for trust.
The supply and counterfeit issues are now a thing of the past…
But how about utility…
This Lebron James rookie card sold for $1.8 million but can only be used as a display. 🙃
Unlike traditional collectibles, NBA Top Shot moments will be used in an upcoming 3D mobile game called Hardcourt. In Hardcourt, you’ll be able to use your moments to improve your players’ stats.
NBA Top Shot moments are also used in this fantasy basketball game Swyysh.
If you have a moment with a three pointer, it will count towards the three point category.
The assist or handle moments will count as assists and the block or steal moments will earn you points for defense.
This John Wall dunk will count towards the 2 pointer category. You will need two separate moments for that category.
It could be either a dunk, jump shot or layup.
Because Luka Doncic is in this lineup with a dunk moment, the scores will reflect on how many 2 pointers he makes in the week (his total points minus three pointers). Another example is the Jimmy Butler steal moment, he will be scored based on how many steals he has for the week multiplied by two. You can learn more about Swyysh HERE.
NBA Top Shot moments are basically trading cards on steroids. They are digital without the worry of wear and tear or counterfeits.
There’s no need for trust since they’re verifiable on the blockchain which means that you’re easily able to sell your Top Shot moments to strangers on the internet without the need for a “five-star rating.”
A few days ago, Johnathan Bales, Co-founder of Fantasy Labs and author of the Fantasy Sports for Smart People book series held the previous single purchase record.
He purchased the Ja Morant Cosmic moment for $35k.
Reason: It is from Morant’s 2019/2020 ROTY season.
Only 49 of them will ever exist.
The future of trading cards is digital.
They will have many different utilities and won’t be sitting in your closet collecting dust for decades. 😂
In NBA Top Shot, the plays are called “moments.” They can be collected and even traded for money, used in a mobile game, and can earn you rewards through the fantasy game Swyysh.
Many use cases will be built around these Top Shot collections.
Samsung didn’t take long to realize Top Shot’s potential.
NBA Top shot is the winner of the 2020 Samsung Galaxy Store Awards for Best Innovative App.
We’re just getting started…
This is the ultimate sports fan experience !