The NBA, NBPA, and Dapper Labs (best known as the creator of CryptoKitties) partnered on NBA TopShot, a new collectible NFT set and game built on the Flow blockchain. Here’s how it works: NBA players make big plays during the course of an NBA season, which then become NBA TopShot Moments, which fans and players can own forever.
NBA TopShot saw record breaking sales upon its introduction in October 2020. Zion Williamson and LeBron James highlights have sold for hundreds of thousands of dollars. Each NBA TopShot highlight features its own attributes. Important attributes include player awareness, teams, series, type of tiers, and sets. In NBA Top Shot’s brief history, the start of the NBA season accompanies an uptick in demand. NBA TopShot offers “Challenges” where holders can earn more TopShot Moments.
The top players in the league are generally the ones vying for the top positions among NBA TopShot listings. LeBron James’ legendary moment floor has steadily increased over time. NBA TopShot “player awareness” is generally based on the best performing basketball players based on average points per game. The most prospective young players to look for can also bring value. The second metric might allow NBA TopShot buyers to benefit from potential increase in value.
In addition, NBA TopShot serial numbers play a vital role in their overall value.
Serial number plays a vital role
Alongside player awareness, another important element is the serial number. For example, recent sales of the same LeBron James moment include the #1 serial number selling for $71,455, while #47 for $48,000, or less than half.
The serial number is important when valuing NBA TopShot NFTs. The lower the serial number, the better, when it comes to valuing NBA TopShot NFTs. Low serial numbers perform well, but so do serial numbers which match a jersey number of the player.
Series is another important NBA TopShot factor. NBA TopShot began with two series. When a series closes, the highlight prices tend to increase.
Series 1 denotes minting between October 2013-October 2020.
Series 2 denotes December 2020 until today.
The floor price for the release of a LeBron James Series 1 was $60,000. Series 2 could be bought for $29,000. Additionally, the top sale of a Series 1 highlight was sold for $79,455. Series 2 sold for $39,999. One might believe Moments from the first series remain the most valuable. These prices have steadily increased since they first appeared on the secondary market.
Highlights are created across four tiers: common, rare, legendary, and ultimate. This classification is common. Such classification in other types of NFT card collection dapps and makes it easier for users to appraise NFT value.
Tier is an important element for highlights. The most rare tiered moments will maintain and increase in value over time.
Sets play a key role in NBA TopShot value. There are 28 sets in total, which are classified by tiers.
- Legendary – 6 sets (Most of them are Limited Editions)
- Rare – 16 sets
- Common – 6 sets
The Utility of NBA TopShot Collectibles
NBA TopShot allows users an opportunity to participate in challenges, create sets and showcase their collections. Each of these events is designed to ensure users deepen their interaction with the platform.
Presently, there are two open challenges. Each has a reward, which is generally a rare highlight of the player not found in purchased packs, and only available in the challenges. In order to be rewarded, the user must collect some predefined highlights.
Activities within the dapp help to boost the usage of the platform. It additionally helps to increase highlights needed to fulfill the challenge. In the short term, this is one of the main elements that creates value.
Whales are important in the NBA TopShot Community. Their activity can impact card values.
As the NFT industry has already experienced as a whole, wild speculation can have an effect on prices in NBA TopShot.
In Review: NBA TopShot
NBA TopShot is a new kind of NFT collectible and an open, digital marketplace. The NFTs are composed of two parts: the play, which is a specific moment in history and can be thought of as the picture on a physical trading card, and the Moment, which is the individual collectible itself.
Moments come in different packs. They also come in different sets. An open set means that new plays may be added. A closed set means no new moments will ever be added to the set. A set might only have 10 moments, to which no more will ever be added.
Not all sets are created equal. Base Sets are the most inclusive set, and come in most every pack. While lower packs come with two more expensive packs. The most collectible cards feature superstar players or low serial number moments.
Serial numbers represent the sequential order each moment was minted on the Flow Blockchain. A low serial number LeBron James is especially rare, because it features a low serial number, as well as the game’s best known superstar.
If a specific moment says it is a Limited Edition or has a finalized edition size, there can never be another unit created. For example, if a specific LeBron James Moment has an edition size of 1000, no more of this specific LeBron James play will ever be created again by TopShot.
A LeBron James card with a circulating count means that TopShot will mint new moments of this play for future packs. Moments can be retired or marked as Limited Edition whenever a new play gets rotated into the base set from the same player.
NBA TopShot, Limited Edition Moments (1 in 1,000), are relatively rare). Non-retired moments have a specific circulating count, but not a final count. Even Base Set Moments on NBA TopShot can be worth a lot more than they cost.
Be sure to check for low serial numbers or special numbers such as a serial number matching a jersey number as these are worth paying a premium for when you find the moment and serial number you want to buy, it is easy to pay with you credit card or Ethereum, Bitcoin, and other cryptocurrencies.
There have been still other sets released. Two main tiers include rare and legendary. You can know by the sticker on the image. The metallic gold limited editions, for instance, are rare, which denotes that there exist less of these Moments than common Moments, but not more than there are legendaries. Metallic gold specific Moments are generally out of 299. There’s one metallic gold per player per series. The borders around NBA TopShot Moments are team colors. Four glowing corners around the border demonstrate a rare Moment.
You can tell a Moment is Legendary because there are 8 glowing corners around the border. One example of Legendary is Highlight 2020 Moments. Such cards come in series of no more than 50.
TopShot Moments are fun and a unique experience to show off one’s favorite plays and collections, which can be done via showcases viewed as slideshow reels. They are easily shared with friends and family or on social media by generating this unique link.