Dapper Labs, the creator of CryptoKitties, is helping the National Basketball Association (NBA) become a magnet for digital groups.
According to Dapper Labs, NBA Top Shot, a non-exchangeable token market, or NFT, has generated more than $ 230 million in sales. NBA Top Shot is built on the Dapper’s Flow blockchain, which allows users to purchase ‘packs’ that have moments in the game. Since packages are almost always sold, aftermarket is the only way for users to reach certain points.
Most recently, the LeBron James spotlight sold for $ 200,000. Zion Williamson searchlights are sold in approximately the same quantity.
Blockchain-based NFTs revolutionize the traditional trading card model. In the case of NFT, the value of a given moment is subject to the same laws of supply and demand, even if ownership is completely digital. Blockchain technology also eliminates the risks of corruption, theft, and fraud.
Dapper Labs has become one of the leaders in the NFT market. Flow-blockchain is still in beta, although the company has released updates indicating that the main network will be operating at full capacity at some point in the foreseeable future.
The NFT market has quadrupled in size in the past year as blockchain-based art and sports memorabilia attracted dominant attention. According to Crypto Slam, NBA Top Shot is one of the biggest markets, with sales of tens of thousands of dollars in just the past hour.
Away from sport, NTF is beginning to break into art. Async Art leads the programmable art movement after receiving more than $ 2 million in initial investment, Cointelegraph recently reported. Silicon Valley’s NFT platform generated over $ 1 million in sales in its first year of operation.