NBA Top Shot - Pioneering Sport NFT Collectibles - Market247.io
The NBA Top Shot marketplace is an excellent destination for you if you are a big fan of basketball and would like to possess a unique moment for yourself. Here is all you need to know to get part in NBA Top Shot and make an informed decision about collecting, regardless of whether you are a newcomer to NBA Trading Cards or an experienced NFT collector.
What is the NBA Top Shot?
NBA Top Shot is a platform built on blockchain technology that allows sports fans to purchase, sell, and non-fungible exchange tokens (NFTs) of NBA video highlights. It resulted from a collaboration between the National Basketball Association (NBA), the NBA Players Association (NBAPA), and Dapper Labs.
For the benefit of sports fans and collectors who might not have extensive knowledge of cryptocurrencies and blockchain technology, the digital marketplace being developed for this project is intended to be user-friendly and straightforward. The blockchain technology that underpins the platform offers participants in NBA Top Shot several advantages exclusive to the game and enables a wide variety of cutting-edge features.
The Technology of NBA Top Shot
Users of NBA Top Shot can more easily trade and verify the genuineness of the game's digital goods thanks to a decentralized technology called the blockchain. The platform is based on the FLOW blockchain, which Dapper Labs developed. It is user-friendly for developers and is designed to facilitate the development of the next generation of games, apps, and digital assets.
The National Basketball Association (NBA) chooses game highlights with the potential to become moments. Not merely work with Dapper Labs to calculate how many moments should be minted for each highlight. They even engage fans in decision-making.
How does NBA Top Shot work?
Users can buy, sell, and collect NBA NFTs that highlight significant "Moments" minted on the FLOW blockchain through the usage of the NBA Top Shot platform. Certain Moments are harder to find than others, but the ones that are the hardest to find are the most valuable.
The "Packs" that include newly minted Moments function in a manner very similar to those of traditional trading card sets. As a Series component, Packs are issued in the form of Sets. The schedule for each Series is designed to follow the same pattern as the NBA season. As a direct consequence of this, consumers have the opportunity to purchase brand new digital packs of NFT Moments around once each week. These digital packs highlight the most notable plays from the previous season.
Legacy enthusiasts don't have to worry about not being able to own their favorite plays from the past, even though pack drops are determined by the events of the current season. There are numerous opportunities available to get retroactive Moments.
The Products of NBA Top Shot
NBA Top Shot offers users 2 types of products.
Top Shot Moment
Moments are tradable NFTs containing a video clip of a specific game highlight and other relevant information, such as statistics about the specific game and the player featured in the clip. At its core, NBA Top Shot allows fans to collect "Moments." Moments are tradable NFTs that contains a video clip of a specific game highlight.
The following is a breakdown of "Moments":
- Common: There were 96.6% of total moments and these are the largest edition sizes available. They aim to create "shared, collaborative experiences for fans worldwide." They are simple to acquire and can be found in abundant supply.
- Fandom: There is no predetermined percentage for Fandom NFTs in Top Shots. This is because Fandom NFTs are based on unique experiences associated with particular events.
- Rare: It accounts for 2.25% of all possible moments. Rare Moments on Top Shot are more difficult to obtain and are reserved for a select few users. Typically, they will feature legendary plays from NBA greats from the past.
- Legendary: Legendary moments make up 0.11% of the total. These Top Shot moments are incredibly hard to come by and extremely infrequent when they occur.
It should come as no surprise that scarcity will always be a significant component in determining the value of NFTs and trading cards.
Packs of Top Shots
The Top Shot Moments are organized into packs and assembled into sets as a series component. There are two major classifications in that, namely, Base and Non-Base Set.
Base Sets are dropped in order of Series and release. These are almost always considered to be of the Common rarity and contain three basic Moments that are great for those just starting out or those looking to round out a collection.
Every non-Base set will include at least one Common Moment and at least one Rare Moment and perhaps one Legendary Moment. The non-Base set expansion packs, such as "Playoffs," "Premium Pack," and "Run It Back," can be distinguished from one another by their significantly more elaborate packaging. These, of course, come with a higher price tag.
How to Obtain Top Shot Moments?
The following are some steps that you may do to ensure that you have the best top shot moments of basketball games when playing NBA Top Shot.
The vast majority of Moments are initially made available for sale as a component of a digital "pack," which customers can get by making a purchase straight from NBA Top Shot. Before making a purchase, customers do not have access to information regarding the precise Moments that are included in each pack, just as they would with a standard trading card pack. NBA Top Shot will occasionally release new packs, and the packs it releases will frequently have a theme.
In addition, Top Shot will occasionally offer "Challenges," which allow users to accumulate more Moments. During the Challenge duration, users have a predetermined length of time to collect a predetermined number of Moments. When the time limit has been reached, a bonus Moment will be awarded to every user who has accumulated the minimum number of Moments. Many of the moments earned in Challenges cannot be found in any other location.
Peers to Peers Trading (P2P)
Once a Moment has been obtained, either through the purchase of a pack or the completion of a Challenge, players are free to trade or resell it in a manner as a physical trading card. However, in contrast to actual cards, each Moment's legitimacy and scarcity can be easily verified (via the Flow blockchain). Furthermore, the whole transaction history as well as the prices at which each Moment has been sold in the past can be viewed by everyone.
That is all of the essential details of the NBA Top Shot. We hope you get to learn more about one of the first non-game-used collectibles in sports. If you have any inquiries regarding NBA Top Shot, please feel free to leave us a comment below.
What are Trade Tickets?
Top Shot provides a solution in the form of Trade Tickets if you open a Pack only to find one or two Moments you are not interested in using. In April of 2021, Trade Tickets were launched to ensure that all users' Moments have some usage. No matter how rare a Moment is, it will always be valued as exactly one Trade Ticket, and collectors will be able to use those Trade Tickets to purchase exclusive packs that are only available through the usage of Trade Tickets.
Which payment methods are used on NBA Top Shot?
Users have the option to pay for Moment NFTs with a variety of payment methods, including credit and debit cards. NBA Top Shot also accepts a few cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash, DAI, or USDC. Additional transaction fees will be applied to the total cost of your purchase.
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