NFL ALL DAY surpassed NBA Top Shot in NFT sales in August for the first time. This has put NBA Top Shot at risk of losing its top-dog status on the Flow blockchain.
NFL ALL DAY and NBA Top Shots are non-fungible tokens housed on the Flow blockchain. As one of the biggest NFT blockchains by all-time sales, Flow has processed more than $1 billion worth of digital collectibles from 463,091 unique buyers across 23 million transactions.
As the newer collection on Flow, NFL ALL DAY generated approximately $7.3 million in August. This was a four-month high since sales of the collection declined steeply after April’s $7.5 million in sales.
NBA Top Shot, on the other hand, reached a 20-month low after grossing around $7 million. The last time this collection generated less than $7 million in monthly sales was in December 2020.
NFL ALL DAY draws more unique buyers
There were 16,745 new buyers for NFL ALL DAY while Top Shot only pulled in 15,369 unique buyers. This difference was likely due to the announcement of the first public NFL ALL DAY Series 1 pack drop which was dubbed Headliners. The drop happened on Aug. 12 and featured legendary moments from Derrick Henry, Jalen Ramsey, Trevor Lawrence, Derek Carr, Jonathan Taylor, and Zach Wilson. NFL ALL DAY was launched in closed beta mode in December 2021 before being opened to the general public last month.
NBA Top Shot has been on the markets since May 2020 and the longevity explains its all-time sales which have surpassed more than $1 billion.
Despite NBA Top Shot total transactions of 423,164 outpacing NFL ALL DAY’s 173,809, NFL ALL DAY’s average sale value of $42.07 was two and half times that of NBA TOP SHOT’s $16.64.
Is NBA Top Shot’s status as the best performing NFT on Flow at risk?
As of Sept. 18, NBA Top Shot had generated sales of $2.9 million while NFL ALL DAY had sales in the region of $8.3 million. With less than two weeks till the end of the month, there is a huge chance that NFL ALL DAY could have more than five times the sale of NBA Top Shot by the time October rolls around.
With that said, NFL ALL DAY’s all-time sales are only around $50 million — 20 times below that of NBA Top Shot – a top 10 NFT collection by sales volume.
NFL ALL DAY moving up the ranks
NFL ALL DAY has done little to revive FLOW’s price
FLOW opened on Feb. 1 with a trading price of $6.80 and spiked to $8.65 before Russia’s invasion of Ukraine led to a significant decline in the prices of cryptocurrencies.
In the months that followed, FLOW crashed to $1.22, and it traded below $2 in the third week of September. Overall, FLOW has shed more than 70% of its price since the collection’s release.
With competition from NFL ALL DAY, Be[In]Crypto reached out to some industry experts;
“It will undoubtedly add value to the Flow ecosystem, these are two of the biggest franchises in world sport. The mass exposure and adoption that NFL ALL DAY will bring to the chain are priceless. Flow has done well to ensure they provide the right platform to keep organizations like that on their chain,” said Philip Gunwhy, CMO of Farcana, a blockchain gaming Metaverse.
Sebastian Menge, the COO of Fitburn gave his opinion; “Today’s events look like a battle between the NBA and the NFL. It’s worth noting that the NFL ALL DAY is a more recent project, and that’s why it generates more hype. Top Shot NBA is a project that had its highest, if I recall correctly, about a year ago or in February 2021.”
Menge concluded, “That was the reason behind the community’s interest and the main reason that NFL ALL DAY has outperformed TOP SHOT NBA at this point. Flow blockchain or Flow ecosystem, in turn, profits from every new project that creates hype. But whether that hype will be permanent, you may never know, as it needs constant fueling.”
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.