NBA Top Shot has broken the $200m threshold in net sales generated through the sale of collectibles on the blockchain.
Licensed by the NBA, the platform is selling “moments”, which are highlights from games that customers can claim “exclusive rights over”.
These rights do not mean that there is any exchange of intellectual property, but rather that a consumer is the “unique owner” of that specific moment licensed by the National Basketball Association and distributed by Top Shot.
For all intents and purposes, these collectibles are “bragging rights”. Out of the $205m sales generated by the platform, 65% were generated in the past week. Some $132.5m were processed in only seven days based on data revealed by CryptoSlam, a specialist company that assesses traffic and digital collectible volumes.
In just 24 hours, the platform won 27,000 users and realized another 80,000 transactions. A single LeBron James highlight sold for $208,000, one of the highest on the platform so far, and not likely to be the last big purchase.
Top Shot is already gathering momentum with numerous athletes and teams referring to it or even promoting it openly. Speaking to ESPN, Adrienne O'Keeffe, the NBA associate vice president for licensing said that Top Shot is a great opportunity to develop a product that resonates with fans.
Should Top Shot continue to generate income so quickly, it may be one of the most successful digital collectibles to date. Collectibles businesses on the blockchain are picking up. The Nyan Cat gif recently sold for an eye-watering $580,000.
Platforms such as Sorare and CryptoKitties have had great success as well. In the meantime, traditional Bitcoin casinos such as Bitcasino, 1xBit and FortuneJack remain more popular choices for players from all over to enjoy.