![]() In the locker room and on team plane rides, Mr. Of course, it’s still the N.B.A., and the fraternity of Top Shot aficionados engages in plenty of antics and inside jokes. He often streams live on YouTube while opening Top Shot packs. Ross, who said Top Shot reminded him of collecting trading cards when he was a child. “Right now, I’m just riding the wave, and we’re going to see where it stops,” said Mr. He now believes in its longevity, he said, and has invested in Dapper. Others, like Terrence Ross of the Orlando Magic, got into Top Shot for the fun of it. For instance, he said, “Michael Jordan will always be considered one of the greatest of all time, so his shoes will stand the test of time.” ![]() Iguodala, who plays for the Miami Heat, said he thought sports-related memorabilia, even in a volatile industry like NFTs, was a safe bet. In April, The Information reported that Dapper was raising another round that would value it at more than $7.5 billion. Players with reputations for financial savvy, like Andre Iguodala and Kevin Durant, have invested in Dapper, which was valued at $2.6 billion in a recent funding round. ![]() Top Shot than I am with the minimum-salary players doing the same,” Mr. “I’m much less concerned about someone like LeBron James pumping in hundreds of thousands of dollars into N.B.A. Gobert, for example, will make $205 million over the next five years. Heitner said, there is little risk in investing even a large amount of money in Top Shot. He said he had tried to buy highlights of himself and his teammates, betting that the Jazz will make a splash in the playoffs and that those Moments will be worth more money.įor the wealthiest players, Mr. ![]() Gobert said he thought Top Shot had “unlimited potential” because the marketplace could draw on vintage highlights, current plays and future clips, and because Moments of young players could gain value as they blossomed into stars. Some players were attracted to Top Shot by the allure of owning the biggest and rarest collections, but many say they have grown to believe in cryptocurrencies and think Top Shot highlights could accrue value in years to come. Is buying Top Shot Moments, then, yet another wasteful investment? Or could it be a shrewd financial play? Between shifting interests and the ebbing of the pandemic, he said, “there’s a lot of reasons you could see this marketplace drying up and find individuals left holding the bag.” “It’s a marketplace that obviously is purely built on demand and scarcity,” said Darren Heitner, a lawyer and a sports law professor at the University of Florida. Dapper said that the marketplace was still growing, and that April’s numbers were more normal after a brief NFT boom. One warning sign: Top Shot’s sales last month, $82 million, were down from $208 million in March and $224 million in February, according to CryptoSlam, an NFT tracker. Top Shot is risky, too, because the price of the highlights could plummet at any time if people decide they are no longer interested. players blew their millions on risky investments, but the league has pushed in recent years for its young stars to educate themselves financially. Players also earn money for being featured in the video highlights, but the National Basketball Players Association declined to say how much. declined to say how much money it has made through this arrangement, but Roham Gharegozlou, the Dapper founder and chief executive, said his company had made $45 million from pack sales alone. commissioner, recently told Time magazine that the league would still miss out on 30 percent to 35 percent of revenue this season. But with arenas only now slowly filling, Adam Silver, the N.B.A. It finished its 2019-20 season in a Disney World bubble and squeezed in a condensed All-Star Weekend in March to recoup some lost revenue. has long been one of the most innovative leagues in finding ways to make money. It’s also a moneymaker for the N.B.A., which lost about $1.5 billion in revenue last season between the pandemic’s emptying arenas and China’s pausing the broadcasting of basketball games over a geopolitical dispute. The trend is an engaging - if expensive - way for fans and players to celebrate exhilarating basketball plays. Some have collected just a handful of clips, while others own dozens or hundreds. players have created Top Shot accounts, from All-Stars like Mr. ![]() A LeBron James reverse windmill dunk Top Shot, for example, sold for $210,000 in March. Unlike highlights on ESPN or YouTube, Top Shot Moments are on a blockchain, a digital ledger that records cryptocurrency transactions, which makes it possible for people to own and exchange them as if they were trading cards. ![]()
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