How does NBA Top Shot blockchain work?
NBA Top Shot is a blockchain-based platform that allows fans to buy, sell and trade numbered versions of specific, officially-licensed video highlights. … Once you purchase a pack, those highlights go into your encrypted, secure highlight wallet to be “showcased” or re-sold on the NBA Top Shot Marketplace.
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.
Is NBA 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.
Will NBA Top Shot last?
The Base Set has been and will continue to be the most wide-ranging set in the Top Shot ecosystem. After clocking in at 533 Moments in Series 2, the Base Set will see no more than 519 Moments in Series 3. Bear in mind that the 2021-22 campaign will be 82 games long, up from 72 in 2020-21.
What are NFTs in Crypto?
What is an NFT? NFT stands for “non-fungible token.” An NFT is basically data that is stored or accounted for in a digital ledger, and that data represents something specific. An NFT can, for example, represent a piece of art, a music album or other types of digital files.
What makes NBA Top Shot valuable?
The player matters
The player involved in the moment is the most important factor in its long-term value. If we’re comparing NBA Top Shot to the physical card market, the only players who have long-term value are the true superstars of the league.