NBA Top Shot reaches $1B in sales amid NFT market turndown

What is NBA Top Shot? Explaining the Blockchain NBA highlight collectables  | Sporting News Canada

NBA Top Shot eclipsed $1 billion in sales on Friday, a landmark that comes amid a major dip in crypto assets over the last month.

Dapper Labs launched the NBA-focused NFT to a few select testers nearly two years ago, allowing fans to purchase highlights — called Moments — via packs or individually on the Flow blockchain created by the company.

Since the start of May, the overall digital asset market has seen daily transactions and the average sale price crater more than 90%, according to CyrptoSlam.

Top Shot has fared better, although sales activity has plateaued in recent months.

Since the success of Top Shot, Dapper Labs has secured deals with the NFL and UFC among other leagues, and executives are hardly panicking over the recent downturn.

To date, 13 Top Shots have sold for more than $100,000 in the marketplace with nine of those coming in Moments of Lakers star, LeBron James.

None of those purchases were made in 2022; the most-expensive moment bought this year was a James Moment that went for $65,000 in January.

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