NBA Top Shot NFT Sales Register All-Time High of Over $1 Billion
The National Basketball Association (NBA) has been one of the very early entrants into the world of non-fungible tokens (NFT). NBA Top Shot NFTs have been a major hit in the market ever since their launch in July 2019.
The latest industry data shows that NBA Top Shot NFTs have recorded all-time sales of more than $1 billion. This news comes just at a time when the entire NFT market has been witnessing a major drawdown in monthly volumes.
Sports NFTs are catching up rage very quickly as they provide digital ownership just like physical cards back in the 90s. Furthermore, these NFTs being based on the blockchain platform, they are absolutely secure and tamper-proof.
Similarly, the NBA Top Shot allows users to buy, collect, and sell NBA Top Shot NFTs that could feature any influential or historic moments of the game. This could be anything, an image, a video, digital merchandise, etc. All of the NBA Top Shot NFTs are minted on the Flow blockchain network.
Some of the biggest contributors to the NBA Top Shot NFT sales are LeBron James, Stephen Curry, Zion Williamson, and Giannis Antetokounmpo. Earlier this year in March 2022, NBA Top Shot clocked more than $29 million in NFT sales volumes. This happened despite the NFT market trading under pressure.
The Surge in the NBA Top Shot NFT Sale Volume
There have been a growing number of unique buyers for the NBA Top Shot NFTs since January 2021. This surge in the sales volume has also contributed to the jump in the total transactions count. a total of 19,185 unique buyers have contributed to more than 505,000 transactions.
By the end of January 2021, NBA Top Shot’s sales volume was around $40.5 million, with a spike of 321.2% in the number of unique buyers as February approached – amassing a total of 80,000 buyers and 1.2 million transactions. By February’s end, NBA Top Shot reached its ATH of monthly sales volume of around $244 million.
Just like NBA, many other popular sporting platforms like the UFC have also joined the NFT bandwagon.