The officially licensed digital collectibles venture NBA Top Shot has surged in popularity as it rakes in $53 million in just 7 days time.
Ever since the inception of sports across the globe, trading cards featuring some of the most recognizable athletes from their respective sports have been manufactured. Over time, the novelty trading cards turned from a mere pass-time to a multi-million dollar business.
Companies such as Topps manufactured cards with varying degrees of rarity; the rarer the card, the more it would go for. However, in this tech-dependent age, it is only right that the idea of trading cards be applied to the digital world.
NBA Top Shot does just that as it allows avid NBA fans to purchase ‘moments’ that take place within a game, at a certain price. The more bombastic the moment, the higher the valuation of that particular moment. The digital collectibles company took off a while back and it doesn’t seem to be slowing down any time soon.
NBA Top Shot makes $53 million in just one week
The digital collectibles schtick has taken over the NBA world by storm. So much so that podcasts such as the Mismatch have discussed it at great length. Chris Vernon and Kevin O’Connor seem to be quite enamored by it all as they endorsed the NBA Top Shot quite heavily.
According to Forbes, the site has garnered 33,00 new users in merely a week’s time and also completed nearly 500,000 transactions which raked in about $53 million in the same timespan.
In case you thought this thing was a fad…
— Tommy Beer (@TommyBeer) February 20, 2021
A unique aspect of NBA Top Shot however, is that every purchase made on the site is unique to the consumer. In other words, unlike trading cards, the ‘moment’ that is purchased by a consumer cannot be exchanged or traded with another ‘moment’ owner.
This could attribute to its continued popularity. Owning a moment that’s taken place within a game while also having it being authenticated by the NBA would be quite satisfying. Fans could purchase their favorite moment keep it with them for as long as they desired.