|Digital collectibles||Flow blockchain||NBA Top Shot||non-fungible tokens|
With more than 50 million dollars in sales, NBA Top Shot has become the biggest NFT marketplace. Even though the project is merely six months old, it has already surpassed both Decentraland and Cryptokitties. That’s what DappRadar concludes based on on-chain marketplace transactions.
Cryptokitties has had more than 38 million dollars in sales since it launched in 2017, while Decentraland has had 40 million dollars in sales. While these two projects have taken three years to reach those sales numbers, NBA Top Shot only needed six months.
New packs for NBA Top Shot almost sell out instantly and the website has collapsed under the traffic on several occasions. In the past 30 days NBA Top Shot has seen 63 million dollars in trading volume alone, according to Cryptoslam. That number is separate from the pack sales.
Why NBA Top Shot is so hot right now
The strength of the project is twofold. First of all Dapper Labs made the Flow blockchain so that it’s easy to join NBA Top Shot. Users will have no problems with private keys and gas fees. Many users are praising the interface made by Dapper Labs on social media.
Second, these digital collectibles are officially licensed by the NBA. They are the real deal and feature stars like for example LeBron James, Spencer Dinwiddie and many more. These collectibles come in different rarities. Because of this prices for collectibles go from 1 dollar all the way to a couple of thousand dollars. Many collectors want to get in early, before the mainstream audience comes in and really pumps prices.
In the past weeks we’ve seen a couple of NBA Top Shot moment sell for $100.000 each. However, the increased success also comes with a downside. As the community expects a quality service and the project still in its testing phase, mistakes aren’t easily accepted.
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Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.