(KTXL) – A new type of collectible has made its way onto the market in a big way.
NBA Top Shot, owned by a company called Dapper Labs, is essentially a digital trading card.
Each digital card or highlight is called a “moment”, and it has exploded in popularity recently.
“NBA top shot is kind of the future of what memorabilia and sports collecting can be,” said community lead Jacob Eisenberg.
Eisenberg says this is how it works:
- Moments are bought in packs.
- The packs come in different price ranges depending on the rarity of the cards in the pack.
- The purchaser does not know what moments will be revealed, creating the excitement and gambling aspect.
So if a customer gets a good one, like a LeBron James dunk with only 49 available digital copies, you can resell it for big money.
Really big money.
One card sold this week for over $200,000, and that’s only a fraction of the money in all of this.
“In the last week, we had a day where we had $47 million in peer-to-peer transactions over a 24-hour window,” Eisenberg told FOX40.
To make it all official, the validity of the “moment ownership” uses blockchain, meaning there’s a ledger of who owns what.
“I also think that NBA players taking interest and getting involved, and in some cases buying their own Moments, has certainly has had its impact on individual cards and things like that,” said radio producer Sean Thomas.
Thomas has been researching NBA Top Shot and has bought some packs, he says this phenomenon isn’t as surprising as some may think.
“Digital things are real things to a lot of people out there, and I think that statement is more true the younger the demographic goes,” he explained.
NBA Top Shot is a partnership between Dapper Labs, the NBA and the National Basketball Players Association, all of whom get a percentage of sales from packs and peer-to-peer transactions.