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NBA Top Shot sales shoot up with the Shaquille O'Neal drop
What's NBA top shot? It 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. It was launched in October last year.
Top shot released a new booster pack series called "Run it Back 05-06" which points to the pivotal season in NBA history where Dwyane Wade of Miami Heat went from All-Star to superstar before becoming Finals MVP. The new drop features six new NBA Hall-of-Famers. All ofwhom were stars in 2005-06, Dwyane Wade, Shaquille O'Neal, Allen Iverson, Ben Wallace, and Tracy McGrady. Shaq's NFT is on 🔥; the lowest bid is currently around $3,150.
Heard of crypto kitties? While NFT's were minted as early as 2015, people noticed when players spent $1Mn on virtual cats back in 2017. The team behind CryptoKitties, Dapper Labs, has created NBA Top Shot. They are now launching an NFT platform for football fans by partnering with the National Football League (NFL).
NBA Top Shot hit its sales peak on February 22 when $45 million in sales was reported in a single day. The next day, a group of collectors set a record for the series when they paid $208,000 for a Lebron James highlight. NBA Top Shot has clocked $750 Mn in sales across 10.5 million transactions from more than 350,000 buyers.