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Phil Hall
Phil Hall
Jan 6, 2021
News

NBA Top Shot Sets Trading Record

The digital collectibles of NBA Top Shot set a trading record on Tuesday, as trades between users reached more than 250 thousand dollars.
NBA Top Shot Sets Trading Record

The digital collectibles of NBA Top Shot set a trading record on Tuesday, as trades between users reached more than 250 thousand dollars. Among those trades one LeBron James Cosmic collectible switched hands for $17.777. NBA Top Shot offers digital collectibles based on memorable and iconic moments from NBA history and recent matches.

NBA Top Shot launched in open beta in October and has seen a steady growth over its first three months. There was a big peak in usage in October, followed by a calm November. However, in December growth for NBA Top Shot became serious, reaching its record height this Tuesday.

Collected moments can be kept or sold to somebody else who’s interested. Rare versions of big stars like LeBron James sell for thousands of dollars. However, the majority of cards on the marketplace cost between one and fifty dollars. This makes collecting moments in NBA Top Shot very accessible for everybody.

The digital collectibles based on the American basketball competition have quite some backing. Not only are they officially licensed, several professional basketball players have invested in Dapper Labs to support the project.

Built on Flow

Dapper Labs has created NBA Top Shot on their own Flow blockchain. Flow is a proof-of-stake blockchain. This means that nodes hosted based on economic wealth instead of computing power. The Flow network introduces five different nodes, which means the workload will be split between them. Each node is a bit different and they all compliment each other. As a result everybody can help to build the network, ranging from home computers to data centers.

For regular users it will be easy to use Flow. There won’t be any transaction fees. As a result this makes breeding Cryptokitties and sending someone in-game assets a lot more user friendly. Aside from Dapper Labs own projects Cryptokitties and NBA Top Shot, there are more games coming to Flow. Among them is Chainmonsters, a Pokémon-inspired online game.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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