NBA Top Shot is the latest crypto collectibles craze, in which the most iconic moments in NBA history are turned into non-fungible tokens, or | Keep in mind, buyers will never actually own the media rights to these moments see: 'no intrinsic value' , but that fact doesn't seem to be discouraging Top Shot customers, who have grown from 4,796 in number to over 460,000 so far this year |
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Similar to trading cards, there are multiple cards for each moment | Its ledger prevents a lone user from gaining control of the network |
It's a shock that the NBA is so engaged in this | Yes, the moment you bought is probably available online to watch for free |
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Collectors typically get email alerts about new product eight hours or so before it drops, but demand is currently so high that the packs are usually snatched up quickly, like prized concert passes on Ticketmaster | That is a huge conflict of interest |
© Provided by Daily Mail But while Dapper Labs' fine print specifies that its tokens are 'not for investment or speculative purposes,' the market for NBA Top Shot 'moments,' as they are called, is telling a different story.
6But how is there value in that? As previously stated, Top Shot creator Dapper Labs takes a 5% transaction fee on sales in the Top Shot marketplace, | Furthermore, the only regulatory agency with any jurisdictional power appears to be the Consumer Financial Protection Bureau, which declined to comment to DailyMail |
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Here are a few Top Shots that have sold in recent weeks: | What is NBA Top Shot? The rare tier has packs of 150-4,999 cards and the legendary tier limits them to 25-499 cards |
Dapper Labs, which takes a 5% fee for transactions, is the company behind CryptoKitty, a collectible digital art form of non-fungible tokens NFT.