Following the success of Dapper Lab’s NBA Top Shot collectibles app, the NBA is setting up a blockchain advisory board to explore different ways for the technology to add value to the organization, reported sports business site Sportico. We explore some of the potential use cases.
The board has six well-known personalities, including several billionaires such as Dallas Mavericks owner Mark Cuban, who recently invested in the non-fungible token (NFT) platform Mintable. He’s also been experimenting with selling NFTs through both the Mintable and Rarible apps. Other members include Joe Tsai, Ted Leonsis, Steve Pagliuca, Vivek Ranadive and Ryan Sweeney.
NBA Top Shot sells collections of video moments as collectibles throughout the basketball season. Each moment has a unique non-fungible token (NFT) that can be traded in the app’s marketplace. Dapper Labs opened NBA Top Shot to consumers worldwide in October of 2020. Since then, cumulative sales and re-sales of the app’s blockchain collectibles have passed $300 million, with impressive recent growth. The app accounted for $59 million in transactions during the second week of February and for a record high of $149 million just a week ago. However, the figure for the last week was $48 million.
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