Amidst a meteoric rise in the price of bitcoin, hype is beginning to build around a new craze in cryptos. NBA Top Shot, a non-fungible token based online collectible, is seeing a surge in popularity as prices soar.
Non-fungible tokens, better known as NFTs, are unique tokens run on blockchain technology. Because of the token’s unique serial number, the tokens are unable to be duplicated – making the token a collectible.
Top Shot operates essentially as an online basketball trading card. Collectors purchase packs from the NBA Top Shot website. Each pack contains three “highlights”, which can resell for thousands of dollars. The NFT concept has grossed over 78 million dollars in sales to date.
The craze comes as the NBA struggles in getting players on board with a vaccination public service campaign. Read our story on that here.