With its Moment Packs, NBA Top Shot won over a slew of new fans by rekindling the enthusiasm and nostalgia around sports trading cards. NBA Top Shot is now a full-fledged NFT ecosystem of its own, 17 months after its October 2020 launch.
Do you want to delve into NBA Top Shot and start accumulating your own packs? Let’s look at Top Shot, how it works, and how you can get started collecting Packs right now.
The history of NBA Top Shot
The NBA, the National Basketball Players Association (NBPA), and blockchain startup Dapper Labs collaborated on NBA Top Shot. In essence, Top Shot sells packs of NFTs dubbed “Moments” on the Flow blockchain to reproduce the experience of basketball trading cards on the blockchain.
NBA Top Shot is widely regarded as one of the most significant NFT collections in the industry’s brief history. Its meteoric rise in popularity from late 2020 to early 2021 drew more mainstream attention to NFTs than ever before. It has had an all-time sales volume of nearly $880 million since its inception in October 2020.
What is NBA Top Shot and how does it work?
The NBA Top Shot platform is essentially a marketplace where individuals can trade NFTs, or digital trading cards. Individual NFTs in NBA Top Shot are referred to as Moments, as previously stated. To put it another way, these Moments are digital videos of important highlights from key NBA plays throughout history.
Moments, Packs, Sets, and Series are all types of collections.
Furthermore, the majority of Moments are sold in “Packs.” Packs in NBA Top Shot function similarly to trading card packs in real life. That is, until the Packs are purchased and opened, purchasers have no idea which particular Moments are included. Moments are also divided into three rarity levels: common, uncommon, and extremely rare.
Packs are released by NBA Top Shot as part of Sets (more on those below), which are then part of Series. The series is based on the current NBA season. For example, Top Shot is presently on Series 3 as we enter the third NBA season since the show’s inception.
It’s worth noting that the rarity of a specific event can vary depending on the Pack or Set from which it came. Actually, there are two types of Sets: Base and Non-Base. Common Moments are always included in Base Sets. As a result, Base Sets are the most cost-effective (beginning at $9), and Dapper Labs publishes them on a regular basis.
Non-Base Sets, on the other hand, include Packs with both Rare and Legendary Moments as well as Common Moments. As a result, NBA Top Shot Packs from Non-Base Sets are more expensive than NBA Top Shot Packs from Base Sets. Given the relative scarcity of drops and the strong demand for Top Shot Packs, both Base and Non-Base Sets routinely sell out.
NBA Top Shot has a robust secondary market for highly wanted Moments due to the random distribution of Moments in Packs. After all, just as with traditional trading cards, there are a slew of NBA fans willing to spend top money for a Moment starring their favourite player or a Moment from a memorable game.
What is the best way to begin collecting NBA Top Shot Packs?
Getting started with Top Shot Packs is a lot easier than buying a regular NFT on the secondary market, much alone minting one, which is one of the reasons NBA Top Shot first took off and has remained relevant. Users can first create a Dapper Labs account by entering their email address. They’re ready to start looking for Packs now that they’ve completed that step!
What is the best way to begin collecting NBA Top Shot Packs?
Getting started with Top Shot Packs is a lot easier than buying a regular NFT on the secondary market, much alone minting one, which is one of the reasons NBA Top Shot first took off and has remained relevant. Users can first create a Dapper Labs account by entering their email address. They’re ready to start looking for Packs now that they’ve completed that step!
Using the NBA Top Shot Marketplace to make payments
Another important factor to remember is that all Moments and Packs on NBA Top Shot are priced in US dollars. This means that you don’t even need cryptocurrency to purchase Top Shot Packs. To put it another way, you can buy Packs and Moments with a debit or credit card. In addition to Bitcoin, Ether, Bitcoin Cash, DAI, and USDC, you may buy Packs and Moments with Bitcoin, Ether, Bitcoin Cash, DAI, and USDC.
Dapper Labs has its own currency, which is known as Dapper Balance. Dapper Balance can be purchased using a debit card, credit card, or cryptocurrency, just like NBA Top Shot Packs and Moments. Although Dapper Balance is not required to purchase packs in NBA Top Shot, Dapper claims that it allows users to acquire moments more quickly.
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Make your own exploration before making any form of investment, as always.
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