Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
The sale would be the first time an NBA Top Shot NFT would be sold at a physical location. Fans would have a 10-token limit at the sale.
The NBA Summer League Games next week in Las Vegas will feature the sale of exclusive tokens from NBA Top Shot, the Dapper Labs pro-basketball NFT collectibles. Dapper Labs announced plans to sell three of such crypto collectibles from a Top Shot kiosk at the arena. Fans can pre-order these tokens and will promptly receive them into their respective accounts once created.
The tokens will be the first Top Shot NFTs to exclusively sell from a physical location. They will commemorate a highlight of each game on August 8, 9, and 10, respectively and are dubbed “moments.” Each ‘moment’ will sell for $5 at the Thomas & Mack Center, Las Vegas, selling for the first time at an NBA game. Previously, Dapper Labs was associated with selling digital trading cards that feature NBA video highlights.
Fans are limited to a daily token purchase of 10 per person, and a minimum of 1,000 copies will mint per edition. The total number of moments minted will depend on demand.
NBA Top Shot has raked in over $700 million in transaction volume to date. It also helped to push mainstream adoption of crypto collectibles, a trend that has seen tremendous growth in the NFT market. Endorsed by pro athletes, its ‘moments’ sold for thousands of dollars on the secondary marketplace. The highest-selling moment so far featured Lebron James and sold for $387,600 in April.
For next week’s games, Dapper Labs will bring in eight NBA Top Shot users through a sweepstakes. The chosen eight will have to meet certain conditions to qualify. In the past, the company sent eight Top Shot collectors to the NBA Finals as well as the NBA draft.
More NBA and NFT Collaborations
Dapper Labs CEO Roham Gharegozlou, touched on the company’s roadmap in a Top Shot online “First Mint Fest” interview. Gharegozlou talked about how his company had to quickly adapt to surging demand from users after a faulty start. The NFT company experienced issues with its operations in February and March due to exponential demand increase, making it difficult to use for a while. However, since then, the NFT company has increased its customer service team to anticipate bigger growth and expansion.
This blueprint includes moments from the next NBA season and a classic NBA legendary players niche. According to Gharegozlou, Dapper Labs intends to create “more communication and more transparency” for NFT collectors. Beyond the Summer League Game promotion, Dapper Labs is mapping out more NFT engagement opportunities.
Gharegozlou also spoke of NBA Top Shot Hardcourt, a mobile game tie-in for introducing NFT collectibles to the mainstream NBA fan. However, he remarked that this was before the moments became such a huge phenomenon. The CEO also added that that the mobile app is still undergoing testing periods.
Currently, the moments phenomenon is creating enough buzz, and Dapper Labs will launch the Hardcourt when they achieve a high user base. In addition to all these, Dapper Labs also has several NFT third-party partnerships, including one with Genie.