BITCOIN & CRYPTO

NBA Top Shot Is Taking Off

NBA Top Shot has enjoyed incredible usage and sales numbers since the launch of its beta testing phase on Oct. 1.

Basketball fans just can’t get enough of the hottest digital collectible craze in sports. According to the Vancouver-based Dapper Labs, the developer of the platform, NBA Top Shot has seen nearly 50,000 users buy 460,000 digital highlight “moments” since its launch. Around 30,000 of those buyers made transactions in the secondary peer-to-peer market as well.

Top Shot has conducted $70 million in sales as of this writing, with more than 80% being peer-to-peer. January was a big month for the company, which reported a ten-fold spike in buyers and record sales of $100,000 on individual LeBron James and Zion Williamson highlights. 

NBA Top Shot has official partnerships in place with both the NBA and NBPA, and also has individual investors from the league itself, including Andre Iguodala, Aaron Gordon, Spencer Dinwiddie, and others. 

The site is still a beta, and has experienced some minor issues along the way. Users have reported some issues withdrawing their money, among a handful of minor bugs. Dapper Labs Founder and CEO Roham Gharegozlou says addressing these items is the company’s priority.

“We’re kind of heads down. All marketing and ads are turned off. We’re working on-site reliability,” Gharegozlou said.

The massive demand right out of the gate was likely a surprise for even Gharegozlou and Dapper Labs. As the company winds down the beta phase, the key will be tracking just how Top Shot manages such explosive growth.

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