NBA Top Shot has established itself as an accessible, easy-to-use path to NFT collecting and crypto-powered commerce. Here’s how it works.
You may have heard about NBA Top Shot, one of Boardroom’s best NFTs of 2021, and wondered what it was all about.
If that’s the case, this post is for you.
Dapper Labs’ Top Shot brings basketball fans from around the world closer than ever to their favorite players and teams with officially licensed NBA and WNBA NFTs. It’s your chance to own video highlights of your favorite players, from Kevin Durant’s jumper, Ja Morant’s unimaginably athletic block or a Steph Curry three. Each week, you can open new digital packs of NFT Moments (what Top Shot calls its individual digital highlights), from the season’s most exciting plays.
But before we get to all that, let’s focus on the basics.
What is an NFT?
An NFT is a one-of-a-kind, non-fungible crypto token that ensures that your digital asset— in this case, a Top Shot Moment— cannot be forged or duplicated.
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What is a Moment?
A Moment is an officially licensed NBA or WNBA collectible video highlight. Just like physical trading cards, there are different types, tiers, and series of Moments, with unique digital serial numbers guaranteeing authenticity and indicating how common or rare your Moment may be, including whether it’s a certain player’s first-ever Top Shot Moment. Certain serial numbers — like early numbers, the final number in the set, or especially the player’s jersey number — are considered more valuable than others.
What are the different types of packs and Moments?
There are four different types of Moments. They are available via packs, completing challenges, or buying and selling in the marketplace:
- Common: The majority of Moments with at least 10,000 minted of each.
- Fandom: These come from either purchasing a special edition Moment in-person, acquiring one for promotional purposes, or obtaining one through a special challenge called a Quest that isn’t part of a specific set.
- Rare: Available in packs and the marketplace but with only 500 to 5,000 minted.
- Legendary: Even rarer than rare! There are only between 50 and 500 of each Moment.
There are also three different types of packs — common, rare, and legendary — which offer the different Moments listed above.
How do you buy Moments?
Moments can either be purchased through packs in various Top Shot drops — which are announced via email and social media — or through the Top Shot marketplace, where people from around the world buy and sell them. New users can get starter packs of three Moments for as little as $9, allowing fans to build their collections at an accessible price point.
How are sales processed?
Every sale, powered by Dapper’s Flow blockchain, goes directly to a digital wallet connected to your account. But unlike most NFTs, you don’t need to own cryptocurrency to buy or sell Moments, as everything is conveniently converted into U.S. dollars. From your wallet, you can easily add or withdraw funds.
What can you do with Moments once you own them?
Once you own a Moment, you can hold onto it like any other investment, sell it in the peer-to-peer marketplace or use it to win prizes by competing in Top Shot challenges. These challenges are built around live NBA games and enable you to win both online and IRL prizes, including free trips to the NBA Draft, Finals, and in-person events with superstar players featured in your favorite Moments.
NBA Top Shot allows fans to relive their favorite highlights, join an active community of basketball diehards, and bring them closer to the game. Getting in on the future of NFTs and digital collectibles is just a few clicks away.
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