Why are NBA NFTS so popular?

As Decrypt 's Daniel Roberts recently explained, the NBA's success with NFTs can largely be credited to the NBA being the most social media savvy of the big sports leagues, which puts it in great position to sell these strange new tokens via a collectors' site called Top Shot, run by Dapper Labs.

How does the NBA NFT system work?

The system operates just like trading cards, except that it combines NBA highlights and digital art. The NBA licenses reels to Dapper Laps, who then creates Moments from the footage. Moments are video highlights that have been attached to NFTs.

How many NFTs are there in NBA top shots?

For this particular play, 40,000 NFT Moments are in circulation. Inexplicably, one of the highest-selling Moments on NBA Top Shot is a Common moment: Fred VanVleet three-pointersold for a whopping $140,190. Fandom: There’s no set percentage for Fandom NFTs in Top Shots, as these are based on special experiences that correlate with specific events.

How do you understand NFTS?

To understand NFTs, it’s useful to understand their underlying technology: the blockchain. Blockchains are computer protocols designed to get many computers to agree on the same sequence of transactions without trusting each other.