The NBA NFT 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. In the same way that basketball enthusiasts collect physical items, Top Shot effectively brings that experience into the digital world. Users are banking on their highlight collections increasing in value over time.
What does NBA NFT mean for you as a fan of the game?
It means you have access to some of your favorite highlights from players all around the league – with minimal effort! And if there’s something special about your collection or particular clip, you could make some money off it too! You might even be able to get on the front page of the app’s marketplace and win fame as a high roller.
What is Top Shot?
Top Shot is an application where users can buy, sell and trade NBA highlights between each other. They package those clips into NFTs (non-fungible tokens) which function like trading cards that anyone can purchase and own forever.
NBA Top Shot was developed by DA Labs, a company founded by blockchain enthusiasts from China who studied abroad at prestigious American universities such as Stanford and Princeton. They have previous experience being entrepreneurs in China, where their company grew to 100 employees before they decided to relocate to the United States. Their plan is to go beyond just the NBA NFT marketplace – they want their platform to be about bringing people together through shared interests at a massive scale.
Many people are interested in sports, but they don’t know how to get started. Top Shot can help them learn more through a collection experience and community of collectors!
“NBA TopShot is the next generation collector,” said Caty Tedman from Dapper Labs during her talk at SportsPro Live last week.”It’s not just about collecting your favorite player or play for yourself – it’s also part of building that economy around basketball by getting products made out all these great clips you see on there every day!” Almost half-million users have joined our Discord channel where players discuss everything related exclusively too hoops: gear shortages due popularity increase; who will win MVP this season? It’s the perfect place to start if you want to get into NBA Top Shot.
The idea is not just for the collector but also to make it more accessible. “It brings hard-to-find experiences online, so you can have a much wider audience that are playing with your assets and collecting them,” said Tonello. In addition, blockchain elements bring an ability to tangibly own those digital goods in space – something like holding physical cards while feeling like they’re yours too because Top Shots were created on this platform where people felt at ease buying without wondering whether there will be any settlements down the line or who might get their profits before anyone else does.”
“The first misconception is that what you own is just a highlight. A lot of people think they’re only getting the best plays from their favorite moments, but really, it’s so much more than that! We put tons and tag data on chain with everything we know about this specific game time – how teams are performing at any given moment in history; which players have been crushing it lately (or not); even if someone missed an opportunity to shoot while running towards camera…we capture every possible detail because one thing matters most: winning multiplayer games.”
Building the NBA Top Shot platform
Tedman detailed how Dapper Labs went about building the Top Shot platform from a fan perspective. Instead of setting business-oriented goals, they set out to create something that users would love and want come back too – correctly evaluating this approach as being more likely successful in long run than trying for quick wins with less engaging experiences
“Dappers made sure their app was top notch on every level,” says Tedman “from design all the way down.”
The creators of NBA Top Shot knew they were taking a risk by designing an app that was not only new, but also didn’t have any revenue goals. However as soon as it went live on the market for Closed Beta testing almost immediately fans fell in love with this content and came back daily to see what updates were available! The result? A product created from scratch specifically with basketball enthusiasts’ needs at heart – no matter whether you’re looking forward or behind enemy lines.
“We had the whole team in June on Discord chatting to our beta testers, trying desperately for feedback from people who were already fans of cryptocurrency. It was much easier back then because there weren’t as many knowledgeable crypto experts around so we could just ask them questions without worrying about whether or not they knew anything important – but at this point you’d be hardpressed finding someone willing even answer your survey about how little knowledge everyone has when it comes down right up against their face.