NBA Top Shot Review
NBA Top Shot is directed at those who may be interested in purchasing NFTs that capture certain moments in the NBA. These are officially licensed, unique, and are the sole property of the owners.
Many NFT platforms only allow a single method of payment, which is often Ethereum. NBA Top Shot lies only other side of the spectrum, allowing multiple cryptocurrency-based payment methods, plus the ability to use your credit or debit card.
NBA Top Shot at a Glance
- Offers the ability to own and resell NBA highlights
- Purchases can be done in packs
- Support that goes beyond cryptocurrency
- Flow blockchain used
Commissions and Charges
An industry-standard fee is applied to each purchase if you choose to use your credit or debit card. This is approximately 5% of the purchase price of whatever you choose. Additionally, there is a 30-cent flat fee associated with each purchase.
These elements are clearly outlined on your check-out screen and the latter is always going to be charged in USD.
If you opt for crypto payments, standard network fees are added to your order total. In other words, instead of setting up a fee scheme for crypto-based transactions, NBA Top Shot leaves it up to the typical gas fees that would be associated with any other such crypto purchase.
If using Coinbase, the platform automatically applies the network fee based on the blockchain being used, allowing you to see the total amount before completing your check out. Other wallets typically apply fees via their interfaces.
The payment options that you can choose from for NBA Top Shot are quite vast. Cryptocurrency options include ETH, BTC, DAI, BCH, and USDC. Alternatively, you can use a credit or debit card.
Note that NBA Top Shot also has what is known as a Dapper Wallet, which is the platform’s built-in currency store meant to allow for the quickest possible workflow. From your account payment page, you can add funds to your Dapper balance using either your credit card or cryptocurrency.
Once funded, you can simply have the total deducted from your balance at checkout.
NBA Top Shot Categories
A good measure of an NFT platform is usually the number of categories that it offers. The general meta is that the better NFT platforms support a series of different types. However, you need only take one look at Axie Infinity or SuperRare to dispel that theory.
NBA Top Shot is also in that category since it specializes in the collectible NFT category.
All the NFTs that you can purchase from NBA Top Shot are NBA-based, but they do fall under a few different categories.
The first is packs, which are randomized collections of moments that you can buy directly from the platform. It costs less than secondary market purchases, but it’s like a loot box since you don’t know what is in the pack before you buy and open it.
Sets are next and consist of curated collectible collections that are not too far removed from trading card decks. For example, you can have a set of one specific play type or a series of moments from a single player.
Of course, individual moments are also eligible for purchase.
Regardless of how you purchase, the value of these NFTs has much to do with their rarity. Four tiers are used to establish this, which are common, rare, legendary, and ultimate. These give you an idea of how many of each are in circulation.
Serial numbers are used to differentiate the NFTs since each moment has a unique identifier.
About NBA Top Shot
NBA Top Shot’s creation was a collaborative effort between the developer Dapper Labs, the NBA players association, and, of course, the NBA itself. The platform came to fruition in 2019, intending to allow its patrons to collect moments in the same way people collect trading cards.
Moments are digital tokenized clips and are issued on the Flow blockchain. Each has a value that’s determined by a series of factors, including rarity and general perception of traders. Collectibles are introduced as packages that NBA Top Shot patrons can purchase at a fixed price.
From there, these can then be traded to the next owner in the line if the trade is desirable.
Using NBA Top Shot
There is not much to discuss where using NBA Top Shot is concerned. All you do is log into the site, and choose your point of purchase. You can purchase a pack from the site, or you can purchase a moment from the marketplace. The latter requires more of a search.
Once you’ve identified what suits you, then you can then check out using one of the payment methods alluded to above.
If you are interested in selling moments that you own, it’s even easier than buying them. Head to the moments page of your account, select the moment you want to sell, and click on the “place for sale” option. Note that you can gift the moment to someone else if you wish. Once placed for sale, others can purchase it from the marketplace.
Creating with NBA Top Shot
Creating an NFT in the traditional sense is not supported here, which is obvious, based on the way NBA Top Shot works. Moments are created by the developer and placed on the platform for users to purchase.
Pros and Cons of NBA Top Shot
- The vast array of payment methods makes the platform accessible
- The risk of counterfeit goods is significantly lower than that present with other NFT types
- The user interface is incredibly intuitive
- You cannot trade the NFTS outside of the designated marketplace
- The Flow blockchain’s ecosystem is not as large as Ethereum’s, which is often used by NFT platforms.
A Few Interesting Facts about NBA Top Shot
NBA Top Shot is often considered the most successful NFT collectible on the market.
The platform is very inclusive since it utilizes all stars in the NBA.
The most valuable moments on NBA Top Shot were sold for hundreds of thousands of dollars.
NBA Top Shot is intended at a very specific fan base. It’s not possible to collect first-party NBA moments in the same way on any other NFT platform on the Internet, so your best (and only) bet is to get started with Top Shot. What are you waiting for to get started?