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More than 230 million dollars has been spent on NBA highlights digital collectibles

 

On eBay, a photograph of LeBron James was sold for $200,000 as a memento. A Zion Williamson version was available for a slightly lower price. A formal commitment to the future of the trading card industry has been made by the National Basketball Association, and this game is currently sold out.

Using the CryptoKitties game as inspiration, the NBA worked with Dapper Labs to develop its own version of a collectible digital asset, which was released this year. NBA Top Shot is a crypto-collectible that can be purchased as a non-fungible token by individuals interested in basketball (NFT). All of the items are linked to a blockchain, which is a digital ledger that is comparable to those used for digital currencies like bitcoin. This effectively provides a one-of-a-kind certificate of validity for each NFT that is not susceptible to hacking.

Therefore, even if someone attempts to build an exact clone of the highlight video, it will be clearly distinguishable as a fake due to the uniqueness of the video.

Current "packs" to purchase in order to play the game start at $9.00, but they are constantly sold out.

According to Caty Tedman, head of marketing and team partnerships at Dapper Labs, Top Shots has generated more than $230 million in sales to date; however, the vast majority of this revenue has come from traders who have exchanged the items after they have been purchased by the public. Dapper earns money by charging transaction fees for peer-to-peer transactions and by releasing new packs of NFTs on the market.

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