A blockchain-based company has partnered with the NBA to sell memorabilia, including highlight videos of LeBron James, worth millions since 2020.
The sports memorabilia market has always been on the rising side. It hit new heights over the course of 2020 when basketball cards made for LeBron James and Giannis Antetokounmpo hit the market at crazy valuations. A LeBron rookie card was auctioned for a whopping $1.8 million.
For just $43,313, you can buy one of the 25 video trading cards of the moment on NBA Top Shot. This is a platform where you can trade the league’s top highlights in exchange for cryptocurrency.
The FOMO was real for Steph Curry Moments 👀
User easyaces acquired this Serial No. 14 Legendary Moment for $3500 via the marketplace 📈
A wise investment for everyone as the floor price is $9999 in the marketplace 🚀🚀🚀
— NBA Top Shot (@nba_topshot) January 15, 2021
What are the prices for LeBron James highlights on NBA Top Shot?
NBA Top Shot is a collaboration between the NBA and Dapper Labs. The latter created CryptoKitties – the game that brought the Ethereum blockchain to a grinding halt in 2017.
Currently, highlight videos of LeBron James posterizing Nemanja Bjelica in 2019 are trending at prices of over $20,000. The video of Ja Morant posterizing Aron Baynes in December 2019 is worth money in the same ballpark.
Over the past week, Top Shot claims to have facilitated transactions worth over $1.3 million. The revenue they’ve handled since their start in May 2020 has topped $10 million already, and traffic is only growing.
A new kind of digital collectible combines NBA highlights with the blockchain, and has collectors spending thousands of dollars in the secondary market to snap them up https://t.co/P0S8EoEcqE
— Bloomberg (@business) January 15, 2021
Crypto-based transactions are now considered the most state-of-the-art and secure ones in business. Cryptocurrencies like Bitcoin and Ethereum are changing the way online transactions are being viewed. Paypal is getting Bitcoin on board its payment platform.