Sales of NBA Top Shot NFT Surge by 72% in The Secondary Market

The Rise and Rise of NBA Top Shot

Despite the crypto market suffering, non-fungible tokens, or NFTs, are nevertheless raking in vast sums of money. Last week, OpenSea, the leading NFT marketplace, set a new monthly sales record of $3.5 billion, even though the month is just halfway through.

PFP (profile photo) collections like Cryptopunks, Bored Apes, Wicked Craniums, Meebits, and World of Women are generating the most buzz and headlines in the NFT world. However, NBA Top Shot was largely credited with kicking off the widespread NFC obsession in March of last year. Then, in June, the NFT market crashed, and by August, when NFTs had been pronounced dead, Top Shot had lost its lustre. Top Shot was dubbed “NFT light” by many in the NFT community since it was designed expressly to attract normies and allowed for dollar transactions.

It is now making a comeback, and NBA star Kevin Durant may be to blame. According to CryptoSlam statistics, the collection’s secondary market sales have increased by 72 percent in the last 30 days, totalling $53.8 million.

NBA Top Shot debuted a new TV and social media ad campaign featuring Durant this week, as well as a free Durant NFT “moment” for first-time Top Shot pack customers. It’s the latest in a long line of crypto endorsements for Durant, who has also signed on as an ambassador for Coinbase, which he had previously invested in—and Coinbase became the NBA’s official crypto exchange in October.

Dapper Labs, the firm behind the NFT collection, has expanded its ambitions beyond basketball.

This weekend, Dapper will release Ultimate Fighting Championship (UFC) Strike NFT collectables, based on video footage from UFC events and minted on Dapper’s Flow blockchain, similar to NBA Top Shot.

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