Sports cards have come back in popularity since the pandemic started. Many people have gone back to the good old days of buying cards right at your local sports shop or even selling them on eBay. But now, something in the virtual world is changing the way you purchase sports cards. NBA Top Shot has been trending all over social media lately for the new virtual cards with NBA players’ highlights.
According to Tommy Beer of Forbes, NBA Top Shot has seen record sales and users joining this past week. Top Shot has generated about 132.5 million in sales in just one week. The number of users added was about 27,000, and total of 80,000 transactions in only a little over 24 hours. The trend even got ESPN’s Stephen a Smith wanting them to create a card just for him!
What is NBA Top Shot?
NBA Top Shot started back in July of 2019 when the NBA and NBA Players Association teamed up with Dapper Lab. Dapper Lab is known as the creator of Cryptokids, which is the most popular blockchain-based game. NBA Top Shot is a product where you can buy digital packets of highlights sold from $9 to $230 depending on the player or highlight. The different types of packet editions are common, rare, or legendary. After the packs sellout, then the only to get those significant packs was a peer-to-peer exchange per the Dapper Labs.
Each highlight in the pack has value base on its authenticity backed up by blockchain technology. The value of each highlight or moment is determined by the player and its quantity. On Monday, a Lebron James highlight of him dunking over Nemanja Bjelica in November 2019 was the highest selling highlight in the company’s history. The highlight sold for over $280,000. The highlight sold for that amount, because there was only 49 total of that certain highlight in the pack, and Lebron James one of the most popular players per Darren Rovell of Action Network.
The Popularity and Future of Virtual Highlights
The future is bright for NBA Top Shot to continue to grow and improve. NBA players,Terrance Ross, Josh Hart, and CJ McCollum are promoting Top Shot by streaming and tweeting when they open packs.
NBA Top Shot is hoping to start using retired players highlights once Dapper Labs gets the rights to those highlights. The company is also looking into expanding with the NFL and MLB per Tommy Beer of Forbes.