How to Invest in NBA Top Shot
Contents
A comprehensive guide on how to invest in NBA Top Shot, the new digital collectibles craze.
What is NBA Top Shot?
NBA Top Shot is a new way to collect and trade digital versions of NBA moments. NBA Top Shot moments are like digital trading cards, and each one is stored on the blockchain. You can buy, sell, or trade your moments on the NBA Top Shot marketplace.
Top Shot is still in beta, but you can sign up for a waiting list to get early access. Right now, there are two ways to get your hands on some NBA Top Shot moments: packs and the marketplace.
How to buy NBA Top Shot moments?
NBA Top Shot is a new online marketplace where you can buy, sell, and trade digital collectibles called Moments. These Moments are essentially digital trading cards that feature highlights from NBA games. Each Moment is unique and is stored on the blockchain, which means it can be bought, sold, or traded easily and securely.
There are two ways to buy NBA Top Shot Moments:
1) through the NBA Top Shot website
2) through the secondary market
If you want to buy Moments directly from the NBA Top Shot website, you’ll need to sign up for an account and purchase a packs. Packs can be purchased with either fiat currency (US dollars) or cryptocurrency (USDT). Once you’ve bought a pack, you’ll be able to open it and see which Moments are inside. You can then add these Moments to your collection or trade them with other collectors.
If you want to buy Moments on the secondary market, there are a few different options. The first is to use a service like BCA or NBATopShot.io. These services act as intermediaries between buyers and sellers, and they allow you to buy Moments with either fiat currency or cryptocurrency. The second option is to use a decentralized exchange like Hoodie or basketball-star. These exchanges allow you to trade Moments directly with other collectors without the need for an intermediary.
How to sell NBA Top Shot moments?
To sell an NBA Top Shot moment,
1. Go to your Collection
2. Select the moment you’d like to sell
3. Click “Sell”
4. Choose your asking price
5. Confirm your transaction
NBA Top Shot moments investment strategy
Investors looking to get in on the NBA Top Shot craze should consider the following strategy:
1. Decide how much you’re willing to invest.
2. Do your research and identify which moments you believe will rise in value.
3. Purchase moments on the secondary market.
4. Hold onto your moments or sell them for a profit when you believe the time is right.
NBA Top Shot moments risks and rewards
NBA Top Shot moments are blockchain-based digital collectibles that represent remarkable NBA game moments. They live on the Flow blockchain and can be bought, sold, or traded like any other crypto asset.
NBA Top Shot moments are minted in specific editions, each with its own attributes and rarity. The most popular moments are usually minted in larger editions, while rare moments may only be minted in a handful of copies. The maximum number of copies for any given moment is 55,000.
Investors can buy NBA Top Shot moments directly from the NBA Top Shot website or secondary marketplaces like NBA Top Shot Marketplace and OpenSea. Moments can be bought using Flow tokens (USD-pegged stablecoin) or credit/debit cards.
NBA Top Shot moments are subject to the same risks as other crypto assets, including price volatility, fraud, and regulatory uncertainty. However, because they are backed by real-world assets (i.e., video footage of NBA games), they also offer investors the potential for long-term upside if the Flow blockchain and NBA Top Shot gain widespread adoption.
