What’s With The Commotion About NBA Top Shot?

Crypto is devouring the world, particularly NFTs. They’ve got one of the most smoking crypto patterns of 2021, with comprehensive deals up 1,785% since 2020. Now for the newbies who know nothing about NFTs and all that jazz, it’s called a non-fungible token. So essentially it’s a unique “digital token” that can’t be replaced with something else. It’s like buying a pack of cards and you get that rare one-of-a-kind shiny card. But anyways, one of the most popular NFTs right now is the NBA Top Shot.

Now the question is – what is NBA Top Shot?

NBA Top Shot is a blockchain-based platform that allows fans to buy, sell and trade numbered versions of specific, officially-licensed video highlights.

Breaking it all down, it’s just basketball fans buying, selling, and trading numerous versions of specific, officially-licensed video highlights. Basically it’s collectors that collect things of high value that have sentimental value to them. Instead of it being a physical product, this one is electronic. 

You must have heard of CryptoKitties that was launched back in 2017. If not, they’re a blockchain game that lets you buy, sell, breed and collect virtual cats. Honestly, if you’re just starting out with his whole Crypto thing (like how I am), I suggest you go to CryptoKitties first. I personally enjoy playing with it, and they give you a demo of how it works first too! But anyways, off topic. The NBA Top Shot creator “Dapper Labs” is in fact the same creator of CryptoKitties. So essentially this guy Rohan Gharegozlou is making BANK. It’s a smart way of creating this type of blockchain that will gain the consumers attention and their interests – such as sports or animals.

There are various ways this could interest basketball fans, the first being they like basketball. Similar to the actual baseball cards, you will buy and open a randomized choice of players. So we proceed onward to gathering, presently you can purchase more minutes, or potentially you can begin exchanging with others. here are two different ways you approach this, you can be in it for fun on the grounds that you like basketball, or you’re just in it to gain some cash. Not only that, you get to join a community of basketball fans who have the same interests as you do. 

You know what we can all agree with? Getting rich off of something you like doing. But if you’re just getting into this now – forget it. Just kidding, but in all seriousness, anyone can join. We do have some tips and advice for you when you do. So to wrap it up, it’s an experience where basketball fans come together and engage in collecting, buying, selling and discussing the videos that are collected moments of basketball history.

Want to know more about NBA Top Shots? Of course you do, we barely scratched the surface with this blog! Check out our next blog on how to buy, what to look out for, what’s considered valuable, and how to get started.

Amy Chung, Oakville ON, April 2021

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