Is Top Shot backed by NBA?

Is NBA Top Shot owned by NBA?

In a joint venture that began in July of 2019 between the National Basketball Association, the NBA Players Association and Dapper Labs have come together to create NBA Top Shot, a “revolutionary new experience in which jaw-dropping plays and unforgettable highlights become collectibles that you can own forever,” per …

Are NBA Top Shots NFTs?

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.

How much money does the NBA make from Top Shot?

And to get the money in the bank while the hype is still significant. NBA Top Shot has grossed $527 million in initial and secondary market sales, with most in the latter category. The game still gets a 5% cut of those re-sales. That said, the activity has dropped off from its peak.

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How successful is NBA Top Shot?

“I knew it would be fast, but NBA Top Shot went from 4,000 to 400,000 users in a matter of weeks,” Gharegozlou said. Top Shot’s success has made Dapper Labs a venture darling — the company announced a $250 million funding round last week, reaching a reported $7.6 billion valuation.

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Why is NBA Top Shot successful?

Experts also point out that Top Shot’s success is due in large part to the game of basketball. It lends itself to spectacular (and short) highlights that can be clipped — such as dunks, a key three-pointer, or a huge block. There’s also a major social media component at play.

What is NBA Top Shot?

Made available to the public in October following a period of closed beta testing, Top Shot is a non-fungible token (NFT) marketplace where fans can buy, sell and trade NBA moments, which are packaged highlight clips that operate like trading cards.