NBA Top Shot is part of a joint venture with the NBA to formalize their entry into the NFT market. Rather than the basketball cards, they release moments in packs. These moments amount to videos of some exciting, and some not-so-exciting “moments” or plays that occurred. These videos are on the blockchain and are purchasable in their proprietary marketplace, or via their packs.
Pack releases are announced across their social media such as their Twitter feed and Discord. If you expect to compete in this market, the packs are critical to turning a profit. Because pack purchases are limited, and saturating the market with cards could drastically affect pricing, they have established random queues that users wait until, and are then assigned a position in the queue a short time before the pack “drops”, or is released for purchase.
If you are not one of the lucky recipients of a queue number less than the total number of packs available, then you can join the many other disappointed fans in the “vent” channel of the NBA Top shot discord. There you will find a constant stream of frustrated comments, as well as people defending the process.
The marketplace has been publicly available for a for almost 2 years new, but is still in beta status. It appears they are following Google’s beta pattern to either ensure they set the right expectations as they work out the issues, or use it as an avenue to avoid accountability.
My personal opinion is that NFTs are the future, and I’ll support them as long as they are on a blockchain that takes the environment into consideration. Although NBA Top Shot has their marketplace, all transactions take place on Dapper.
With the success they’ve seen so far, it’s no surprise that the UFC is following suit. Keep us bookmarked in your favorites and as soon as we scope the UFC release, we’ll let you know!