NBA Top Shot Mints A Unicorn: How An Ethereum Competitor Cashed In On The NFT Craze. … NBA Top Shot is crushing it. Five months into its open beta, the blockchain-based collectible platform has already handled more than three million transactions and $460 million in sales on the secondary market.
What Cryptocurrency does NBA Top Shot use?
Alchemy, the backbone of a large portion of the $42 billion decentralized finance (DeFi) realm, is partnering with Flow, the blockchain built by the team behind NBA Top Shot, 2021’s leading foray into the explosive world of non-fungible tokens (NFT).
Is NBA Top Shot secure?
NBA Top Shot is a blockchain-based platform that allows fans to buy, sell and trade numbered versions of specific, officially-licensed video highlights. … Once you purchase a pack, those highlights go into your encrypted, secure highlight wallet to be “showcased” or re-sold on the NBA Top Shot Marketplace.
How does NBA Top Shot make money?
At the very top of it all, profits from NBA Top Shot come from pack sales, where 100% of all money spent is revenue, and from the marketplace, where a 5% fee is taken from each exchange. If you sell a moment for $1,000, you pocket $950 while the other $50 goes to Dapper and its partners.
How much are NBA Top Shots worth?
23, the combined market cap value of all moments on NBA Top Shot was roughly $1.9 billion—greater than the median value of an NBA franchise, according to Sportico. Dapper Labs, the company that makes Top Shot, recently raised funds at a valuation of $2.6 billion.
Why is NBA top shot worth money?
NBA Top Shot has kept the prices on packs cheap enough where basically everyone who gets one is guaranteed to profit off it. That may not always be the case, but it’s the case at the moment. That’s one of the biggest differences between buying a pack of physical sports cards and buying a pack on Top Shot.
Can you withdraw money from NBA Top Shot?
NBA Top Shot withdrawal requests work only with banks based in the United States, but you can also move your money to an e-wallet. You can withdraw a minimum amount of $30 with a $25 processing fee. The NBA Top Shot withdrawal procedure requires identity verification.
Can you sell packs on NBA Top Shot?
What Else do I Need to Know about Buying Unopened Top Shot Packs? Right now, the market for buying and selling unopened Top Shot packs is unregulated and must occur off-site.
How do NBA players get money?
Players are paid their salaries based on 82 games in the regular season. Though players are typically not paid per game, their contracts encompass the number of games that the regular season includes. If they play any games outside of this, pay will need to be negotiated and paid accordingly.
Is Top Shot profitable?
Top Shot moments — something like virtual trading cards — have skyrocketed in value since the marketplace opened to the public in October, leaving many users with hefty profits. Some of the priciest moments have sold for upward of $200,000, and some early adopters have netted millions.
What is the most expensive NBA Top Shot?
An NBA Top Shot sold for $387,600 of a LeBron James highlight where he emulates a famous Kobe Bryant dunk.
What is the most expensive NBA card?
Most Expensive Basketball Card Ever: LeBron James Rookie Card Sells For $5.2 Million.
How much is a LeBron rookie card worth?
LeBron James rookie card sells for $5.2 million to tie all-time record.