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NBA Top Shots NFT Sales Surged 72% In the Past Month

2 mins
Updated by Kyle Baird
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In Brief

  • NBA Top Shot NFTs have been quietly racking up sales in the last 30 days.
  • They were originally aimed at the general public and those with little knowledge of cryptocurrencies and blockchain.
  • Kevin Durant embarked on a social media campaign recently to promote Top Shots.
  • promo

DapperLabs’ NBA Top Shots NFTs have been gaining momentum since June 2021, after a $305M funding round in early 2021.

NFTs are still booming, despite the recent crypto market slump. OpenSea has seen $3.5B in sales in January 2022. Dapper Labs’ NFT collection NBA Top Shot NFTs launched in October 2020. Top Shot was initially aimed at those who would buy them with dollars. In other words, collectors did not have to know the intricacies of cryptocurrency and blockchain to own these NFTs.

According to recent data from CryptoSlam, $53.8M was raised by Top Shot NFTs, up 72% in the last 30 days. A new TV and social media campaign featuring NBA star Kevin Durant was flighted this week. A free Durant NFT moment will be received by first-time Top Shot buyers. Durant became a recent ambassador for Coinbase, while Stephen Curry partnered with FTX as a global ambassador.

Dapper Labs is branching into NFTs with the Ultimate Fighting Championship (UFC) Strike NFT Collectibles. These will mainly be video footage from UFC events and Packs dropped on Jan 23.

NFL to join the NFT party

Surprising popularity of Top Shots

NFTs such as the NBA TopShots have not captured the crypto community’s attention as much as CryptoPunks, Bored Ape Yacht Club, Meebits, and World of Women. However, Durant may be responsible for the surge in sales seen in the last 30 days. BeInCrypto reported that NBA Top Shot NFTs recently outsold CryptoKitties. In June 2021, DappRadar reported over 70,000 traders buying or selling digital cards in the first week of the month. At the time, Top Shot also saw a 67% increase in volume at more than $8M.

In March 2021, Dapper Labs raised $305M, with Michael Jordan and Kevin Durant being two notable investors.

Top Shot was launched in October 2020. Many NBA Top Shot NFTs have sold for hundreds of thousands of dollars and Dallas Mavericks owner Mark Cuban even owns 87 “Moments” NFTs.

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David Thomas
David Thomas graduated from the University of Kwa-Zulu Natal in Durban, South Africa, with an Honors degree in electronic engineering. He worked as an engineer for eight years, developing software for industrial processes at South African automation specialist Autotronix (Pty) Ltd., mining control systems for AngloGold Ashanti, and consumer products at Inhep Digital Security, a domestic security company wholly owned by Swedish conglomerate Assa Abloy. He has experience writing software in C,...