NBA Top Shot Rumors
One of the most coveted moments minted by NBA Top Shot has sold at auction for nearly $400,000. The moment — a highlight of LeBron James dunking on a fast-break with a finishing move reminiscent of the late Kobe Bryant, who had died less than a month earlier in a helicopter crash along with eight others — was secured for $387,600 through Heritage Auctions. It’s a record for a Top Shot auction.
The former is the “earliest” NFT projects to have even been conceived and minted on the Ethereum network (early 2017) by Larva Labs, while the latter is a collaboration between Dapper Labs and the American National Basketball Association (NBA). And while Top Shot sales volumes eclipsed those of CryptoPunks, the latter has seen bigger volumes in the past week on the back of an upcoming high-profile auction at the legendary auction house Christie’s.
Leather couldn’t physically hold his new Doncic item because Top Shot “moments” are individual video highlights in the form of non-fungible tokens (more commonly called NFTs). He couldn’t license or profit from the copyright to that video clip of a Doncic layup against the Lakers on Christmas, either. But within a few days, Leather had turned the digital Doncic moment he acquired at random for $230 into a $21,500 sale on the marketplace. Welcome to the world of NBA Top Shot and digital sports trading, the latest off-court venture Doncic is primed to dominate.
Experts predict Doncic’s already lucrative Top Shot value is poised to increase — likely more than most other current stars’ — as the product becomes more mainstream. “There’s a lot of possibilities. It’s a lot to take in,” said Leather, whose Top Shot collection value ranks in the top 150 of all users. “But I definitely believe that in the top five or six players, Luka’s definitely up there with the potential for a massive career, and people in Top Shot are definitely betting on that.”
Owner Mark Cuban has bought Top Shot moments, written a blog about the ingenuity of NFTs as intangible stores of value, and urged a certain someone else to consider exploring the market, too. “Mark keeps texting me that I’ve got to register,” Doncic said, “so I’ll do it soon.” If and when he does sign up to participate in the marketplace on Top Shot’s website, Doncic will find exorbitant demand for his likeness.
USA TODAY: Would Top Shot ever consider becoming involved in the marketplace, whether that involves setting or raising prices? Roham Gharegozlou: “No, I don’t think so. It’s a free market. There’s a lot of collectors now. There’s no individual that’s sort of exerting undue influence. We think it’s working really well. We see our role as picking new content and releasing new content into the ecosystem. Obviously, challenges are going to continue. We are playing around with new and creative ways to do challenges, including things that sort of layer into each other – so you need the results of one to go into the other. We’re also looking at ways – like, pack drops are so in-demand, can we reward collectors? Maybe you need to complete a common challenge to get into a rare or legendary drop. We’re playing around with those ideas. But nothing locked in yet in terms of genesis options or specifics there.”