NBA Top Shot is a blockchain-based platform that is catapulting the traditional playing card market to new heights. It’s essentially a classic trading card concept that employs the same principles or processes as bitcoin via non-fungible tokens (NFTs). NBA fans from all over the world may buy, sell, and trade virtual cards known as “moments” on Top Shot’s official website.
The most well-known example of digital collectible cards is NBA Top Shot. They’re similar to trading cards, however instead of being printed on paper, they’re stored on a blockchain. This means you can store them in your digital wallet and send them to others, or you can sell them on the internet.
There are numerous cards for each time, similar to trading cards. Smaller packs increase the rarity of the cards, whereas larger packs increase the rarity of the cards. Packs with 10,000 or more cards are on the common tier. Packs of 150-4,999 cards are available in the rare tier, while packs of 25-499 cards are available in the legendary tier.
Each card in each pack has its own unique serial number. However, this might lead to a wide range of prices. For example, the lowest ask for a Jayson Tatum jump shot is $52; the highest sell, serial #5206, is $28,000. That’s a significant difference for the same card, so keep that in mind if you want to resell them.
How it Works
The highlights that are being offered come from actual NBA in-game plays. The league retains ownership of the actual highlights, but fans can purchase a limited edition version of the highlight in the form of a virtual card/video through the Top Shot platform. The platform will categorize and virtually value these artifacts as Common, Rare, or Legendary based on their scarcity, uniqueness of the moment, and the stock of the NBA star. These highlights are then grouped and sold in packs containing various sets of highlights that range in price from $9 to $230. If you’re lucky, one of your pack purchases will include a six-figure value highlight.
These pack drops, however, are a little more difficult to come by than they appear. Each user can only buy one pack at a time, and the number of available packs is incredibly limited. Furthermore, the timing of these pack deliveries isn’t announced ahead of time. Top Shot has released 31 packs since the start of the 2019-20 NBA season.
If you manage to snag a highlight (or two), you may either keep them in your virtual collection or sell them on the platform’s official marketplace, which serves as a secondary market for the website. Individual moments that are being exchanged and sold by everyone in the NBA Top Shot universe can be purchased here by other NBA fans.
Aside from the aforementioned collectibles, there are a couple of Luka Doncic highlights that are currently valued at around $90,000. Highlights from Damian Lillard, Giannis Antetokounmpo, and Devin Booker are also on the market for roughly $70,000 each.
These collectibles aren’t printed on paper and sold in stores like traditional trading cards. Rather, NBA Top Shot cards are stored on the Dapper Labs-developed Flow blockchain (the team behind early NFT phenomenon CryptoKitties). As a result, obtaining them is a little more difficult.
To begin, you must first register for NBA Top Shot with Dapper. You can do so by going to the Top Shot website and signing up. Creating a Dapper account provides you with a wallet where you may store your coins and buy crypto items.
Dapper’s registration process is simple. You sign in with Google or email, then supply and verify your phone number. Dapper then gives you a code, which you should keep safe in case you lose access to the device you’re using. Because it controls access to your account, it’s crucial to write it down somewhere and keep it safe.
Once you’ve signed up with Dapper, you can head straight to NBA Top Shot and login in using your account.
You’ll be welcomed with a handful of introductory films the first time you sign in, before being asked if you want to join the NBA Top Shot Discord channel. After that, you’ll be able to choose the team you want to support.
You’ll see your randomly generated username once you’ve logged in. You can easily change your username by clicking “change username,” heading to your Dapper Labs profile, and selecting a better option.
Now you can go through the available packs (which are almost always sold out!) and the marketplace where you can acquire used trading cards. However, in order to purchase anything, you’ll need actual money.
You’ll need to fill your Dapper account in order to purchase an NBA Top Shot moment.
You can do so by navigating to the site’s “Payment and Payouts” section. You can choose how much money to deposit into your account here, and you must agree to Dapper’s terms and conditions. Then you have the option of paying with a credit card, providing your information, or using cryptocurrencies. Dapper accepts Bitcoin, Ethereum, Bitcoin Cash, as well as the two stablecoins DAI and USDC.