The sports collectible world has been booming the last few years. One of the latest developments is NBA Top Shot, which is taking the internet by storm.
What is NBA Top Shot?
NBA Top Shot allows fans to own moments of NBA basketball. These moments are officially licensed by the NBA and show a quick highlight of an NBA player. Fans can buy these moments in packs or in a virtual marketplace on the site: nbatopshot.com.
The highlight that is purchased is a digital collectible and is technically called a Non-fungible token (NFT). NBA Top Shot is a blockchain-based site allowing fans to buy and trade these digital collectibles. Fans can hold on to these moments for life or can buy, trade, sell or gift them to other users.
— Joe DiTullio (@DiTullioJoe) February 25, 2021
From Mark Cuban to a number of NBA players, people are interested in NBA Top Shot and collecting these moments.
Why Buy a Moment?
These moments should be viewed much like sports cards are currently seen. They are collectibles. Whether they are kept forever or bought in an effort to sell later, they hold value.
Where is the value in this? Only a limited number of each highlight is released to the public, creating some scarcity.
Moments have already been soaring in price. A LeBron James moment has sold in the marketplace for over $200,000. Packs can be purchased from anywhere between $9 to $999, which changes based on the rarity of the cards in them. People can make a lot of money with the right expertise and luck drawing from packs.
Right now the demand for cards greatly outweighs the supply. The website has been crashing with new users flooding in to buy moments. The website is still in beta and packs are released on a limited basis. There is hope that if fans get into the action now, they will be able to reap rewards later on.
NBA Top Shot is already starting to see success as a space for investors and fans alike.
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