Crypto News

NBA TopShot opens to public after closed beta drives $2M in NFT sales

NBA Top Shot, the officially licensed crypto collectibles from the team behind CryptoKitties, has opened its beta version to the public.

NBA TopShot, the flagship non-fungible token (NFT)-powered game built by Dapper Labs on their Flow blockchain, has launched in open beta.

The transition to public beta came on October 1, alongside Top Shot’s launch on the Samsung Galaxy Store. Top Shot is the first app offering blockchain-based collectibles to launch on Samsung’s mobile shop. It is not yet available in the Android app store.

Top Shot allows users to collect multi-media “moments” of varying scarcity representing significant highlights across basketball’s history. The limited edition tokens feature video and statistics depicting an event — like a buzzer beater shot — with users able to unlock extremely rare tokens by completing particular “sets” of tokens showcasing related moments.

Professional NBA player and Dapper Labs investor, Aaron Gordon, said:

“NBA Top Shot, on a scalable blockchain like Flow, is the first time fans can own a piece of the on-court action.”

Top Shot’s 17,000 closed beta users have purchased nearly 43,000 packs of NFTs so far, driving more than $2 million in revenue. 

Approximately 10,500 tokens have been traded through the platform’s marketplace, the most expensive of which thus far was a “Lebron James Cosmic Dunk” that changed hands for $5,200.

Lebron James ‘Cosmic Dunk’ NFT: NBA Top Shot Marketplace

October 1 also saw Dapper launch the second of five waves of its rare “Premium Pack 2” tokens, with all 1,492 packs selling out in less than five minutes at $24 each. The first wave similarly sold out in just minutes, driving more than $40,000 worth of sales on September 28.

Top Shot’s “early adopters” common base set also sold out this past week, following Dapper’s announcement that any unsold packs from the closed beta period would be burned prior to the platform opening up to the public.

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