Basketball Giant knows it Tech: The NBA’s Top Shot
🗣 Like all NFTs, a Moment is only worth what a buyer is willing to pay in the secondary market. Rare Moments from top players can go for hefty sums, while others sell for just a few dollars. For instance, a moment of a LeBron dunk against the Houston Rockets fetched $387,600 last year.
According to the site Cryptoslam!, one of the most valuable NBA Top Shot Moments is a LeBron dunk from a Nov. 15, 2019 game, with 49 minutes. One of those minted Moments is currently on sale for $1 million.
Of course, not all Moments are that expensive. NBA Top Shot users can purchase a starter pack of Moment NFTs for $9, giving the buyer a 0.024% chance of getting a more valuable “Legendary NBA All-Start Classics” Moment.
Like trading cards, Moments are finite, and NBA Top Shot determines how many to release at once. So, getting a Moment that’s 1 in 49 is more valuable than one that’s 1 in 11,000. The scarcity is somewhat manufactured since NBA Top Shot releases Moments on its website in digital packs via limited events called “Drops.” Drop times vary, so users have to stay tuned for announcements.
How to Buy NBA Top Shot Moments?
🗣 Wondering how you can snag a Moment of your own? First, you need to sign up and get verified on the official NBA Top Shot marketplace.
Only verified users can make purchases with a credit or debit card (Visa or Mastercard) or their crypto wallet with Ether, Bitcoin, and Bitcoin Cash, and the Ethereum variations of Dai and USD Coin. NBA Top Shot also hosts a healthy secondary marketplace where fans can buy, sell, and trade, gift packs, or individual Moments.
🤔 Wondering about the advantages to do so?
👉 Ease of use
👉 Great collecting experience
👉 Downside protection against oversupply: This should help prevent flooding the market with duplicate products
👉 Lowers the barrier to entry for new NFT collectors