NBA Top Shot leads NFT explosion with $230M in sales
The NFT craze has reached the NBA, with digital collectibles grossing $230 million in sales, according to Dapper Labs. Dapper Labs, the creator of the CryptoKitties game, is helping the National Basketball Association, or NBA, become a magnet for digital collectibles. NBA Top Shot, a marketplace for non-fungible tokens, or NFTs, has generated over $230 million in sales, according to Dapper Labs. NBA Top Shot is built on Dapper’s Flow blockchain, allowing users to purchase “packs” that feature in-game moments. With packs almost always sold out, a secondary marketplace is the only way for....
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Crypto Firms such as Dapper Labs are currently feeling the heat of these markets’ downturn. As per a report, Dapper Labs has lost more than 90% of its NBA Top Shot sales volume dating from February 2021 till now. It appears that the drop in the prices of digital currencies is not the only aspect investors should be concerned about. This is particularly true considering the look of the NFT market recently. The sales volume of the company’s NBA Top Shot as of February last year was about $224 million, now at $2.6 million. Related Reading: Bitcoin Shocker: Lightning Network Capacity Reaches....
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All eyes are on Ethereum as it eclipses other blockchains in the NFT space. At $25 billion, Ethereum is now dubbed the leading blockchain in terms of all-time sales volume. As of May 31, the crypto has reached $27.50 billion in total sales volume. Ethereum is the topmost blockchain for NFT transactions such as holding, […]
An upcoming auction will sell three Legendary NBA Top Shot NFTs, including a token that holds the record for most-expensive Top Shot moment sold. Nonfungible token studio, House of Kibaa, has announced an auction of three “Legendary” NBA Top Shot NFTs depicting slam dunks from renowned pro basketball player, LeBron James.The auction will be hosted in partnership with Heritage Auctions, and will run from May 6 until May 20. The three NFTs will be auctioned off as a single collection. Each of the tokens were released during the first season of NBA Top Shot and are of Legendary scarcity — the....
The NFT explosion is one of the most talked about events for crypto in 2021, with sales from several platforms breaking records on a weekly basis. NFTs had their best month ever in February, according to a report by DApp statistics trackers at DappRadar. Sales volume from the top three platforms grew to $342 million in February, up almost 400% from the $71 million recorded the month before.Sports memorabilia platform NBA Top Shot dominated the sector and is now responsible for 67% of total NFT transaction volume. The other NFT DApps in the top three are OpenSea, a general crypto....