Top Shot’s $700 million figure comes mostly from trading on the secondary market, Gharegozlou said, meaning it’s not all money in the bank for Dapper and its partner, the NBA. Related: Learn About BTC Privacy at Consensus Day 3 Three weeks prior, it raised capital at a $2.6 billion valuation. Dapper was reportedly valued at $7.5 billion in April. Their favorite players are in on the fun, too: “Put that on Top Shot” has become a mantra of the current NBA season, according to the New York Times.Īll this has paid off big for Dapper Labs, the NFT development firm behind Top Shot and its host blockchain, Flow. Hundreds of thousands of basketball fans wait regularly, sometimes multiple times a week, in digital queues for a chance to buy blockchain-registered highlight reels of dunks, swishes and assists. Paired with its steady daily user count, NBA Top Shot’s small-dollar figures illustrate how the platform has risen above the heady, techy and sometimes scammy NFT landscape to become a mainstream hit. “The headlines are always, you know, ‘LeBron sells for $200,000 or $300,000,” Gharegozlou said, “but the reality is, out of the four and a half-ish million transactions on the marketplace in the past few months, over 3 million have been less than $50.” NBA Top Shot user numbers Related: Tom Brady to Speak at Consensus 2021 Top Shot was no exception: desirable moments of top National Basketball Association stars traded for hundreds of thousands of dollars during the peak NFT craze. The sterling growth numbers come as the broader NFT market gradually cools down from the breakneck highs of early 2021.
Half of Top Shot’s users have paid for packs or in trades, and between 150,000 to 250,000 log in every day. Speaking at CoinDesk’s Consensus 2021 with investor Mary Meeker, Gharegozlou said Dapper’s NFT marketplace for basketball “moments” now boasts 1 million users, an eye-watering figure for a single crypto product. That much of the supply being unlocked and in circulation could help the price stop dropping heading into June.Dapper Labs’ non-fungible token (NFT) platform NBA Top Shot has notched over $700 million in total sales in less than a year, according to CEO Roham Gharegozlou. The FLOW circulating supply is 1.04 billion which is a little over 75% of its total max supply – 1,373,338,337 FLOW coins. The FLOW crypto market cap is $2.6 billion – ranked #31 by market capitalization on CMC. It’s next resistance level would be $9.40 around the 0.786 Fib, yearly open ($8.83) and 2022 high ($9.45). The Flow project and FLOW crypto token could be one to watch – it’s oversold after a nine month downtrend of mostly bearish price action. Some leading venture capital investors are involved including: It was created by Dapper Labs which were also behind CryptoKitties, NBA Top Shot and the Dapper Wallet. What is Flow Crypto?įLOW is the native token of the Flow blockchain, intended to be a more inclusive, developer-friendly and user-friendly blockchain to power the next generation of trendy crypto games, apps and NFTs. Seeing the increasing trading volume and the fact that Flow crypto is also trending online, the selling pressure may slow down however and FLOW could establish a new uptrend. Heading into June 2022, since its all time high of $35.60 has retraced 93.5% in total – the currently monthly low in May 2022 is $2.28. The FLOW price is not yet reflecting that increased interest – partly as Bitcoin dropped back under $30k – although may be close to finding a bottom. Flow Crypto TrendsĪlongside the pump in search traffic, the FLOW token’s 24 hour trading volume is up 7.5% according to Coinmarketcap. Cryptoassets are a highly volatile unregulated investment product.
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