Is NBA Top Shot legit?
There is also a peer-to-peer exchange known as Top Shot Marketplace where fans can buy and sell moments between themselves. Several tokenized LeBron James highlights have sold for more than $200,000. … The problem, as Stark sees it, is that NBA Top Shot is effectively an unregulated financial market.
Can you make money off NBA Top Shot?
Making money on NBA Top Shot is easy initially, but if you do not get packs, things slow down remarkably. If you can consistently get packs (and good cards), of course, it’s potentially insanely lucrative. Even where I’m at – turning $23 into $1,600 – that’s a pretty nice profit for very little investment.
Is NBA Top Shot dying?
Top Shot metrics have declined five months running. But the bottom—or perhaps a normalization of the market—may be near. Over the last 30 days, sales volume (+13.09%, to $34.38 million) and transactions are up (12.79%, to 1.3 million) and the number of traders on the platform is down by just 6.7%.
How is NBA Top Shot legal?
NBA Top Shot is an online exchange that sells NFTs of NBA highlights, and is licensed by the NBA. Purchasers are given verified ownership of a URL that links to a site where the NBA highlight is located. The copyright owner of a digital file or asset has the exclusive legal right to create an NFT for the asset.
Is Top Shot profitable?
NBA Top Shot is booming, but users report trouble cashing out after sales of the collectable NFTs. NBA Top Shot has seen around $500 million in sales, but users are having trouble cashing out. Users eager to withdraw their profits are complaining online about the weeks-long wait times.
Why is NBA Top Shot worth money?
NBA Top Shot has kept the prices on packs cheap enough where basically everyone who gets one is guaranteed to profit off it. … A regular pack of NBA cards could have anything in it. You could have a rare card worth thousands of dollars or you could get absolutely nothing.
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How do you buy NBA Top Shot packs?
You can either buy singular Top Shots on the secondary marketplace or purchase card packs from NBA Top Shots directly. Currently, all card packs are sold out and often sell out extremely quickly after the release. NBA Top Shot has 2 types of card packs: a base set and a Rising Stars pack.
Is NBA top shot an NFT?
NBA Top Shot is an online exchange that sells NFTs of NBA highlights, and is licensed by the NBA. … Top Shot users do “own” the NFT, but the NFT is subject to a licence that allows them to do a small number of things, such as buying, holding and selling the digital highlight in personal, non-commercial settings.