NBA Top Shot is the fastest growing peer to peer marketplace we've ever seen. Half a million people have poured onto the site in the past 6 months. $100M+ in transactions have taken place. NBA Top Shot is undoubtedly the new thing on the block.
Why I Believe in NBA Top Shot
But can Top Shot sustain this success and grow in the future. I'm here to say, YES. Here are some reasons why I believe in the platform:
1. NBA Top Shot is the fastest growing “peer to peer” marketplace we’ve ever seen.
In just a few months, we’ve seen the user base increase 100x and the appetite for the product is untouched by any platform I've ever seen. Top Shot is being organically covered by outlets like ESPN and Bleacher Report, and NBA players have next level engagement with the platform themselves. While there have been many site issues, take a step back and look at the insane success through just 6 months in their beta product.
2. The relationship and license with the NBA and the player’s association.
The NBA and their PA receive a cut on every transaction, therefore they are extremely incentivized to continuously promote this product as opposed to a physical card—where after it’s been printed, they receive no money. It has become clear that Top Shot is going to become a MASSIVE revenue builder for the league. Following the 2020 campaign, the league was searching for another revenue driver. They believe they have found their next hit. An example of the NBA’s over the top integration into Top Shot is the league’s decision to announce the rosters for the Rising Stars game of the All-Star Weekend via NBA Top Shot.
For comparison’s sake, the utility of a physical sports card is tangibility, showing it to friends and that’s about it. With NFTs, utility possibilities are endless and why I encourage others not to try putting a market cap on NFTs and NBA Top Shot.
- Fantasy Game, Swyysh allows you to use your moments to play in a weekly NBA fantasy game.
- Mobile App/Video Game: Dapper Labs (the company behind the NBA Top Shot Blockchain) and Top Shot are creating a game called “Hard Court”
- A Digital Passport: Imagine attending an NBA game and scanning your ticket. One week later, a moment from that game is dropped into your Top Shot account as not only a memory but a way to track games you’ve been to in the past.
VR/AR, fan engagement, the list goes on and on but the most bullish aspect of Top Shot has to be their utility.