NBA Top Shot NFTs Are On The Rise: A 72% Upsurge In The Last 30 Days

As the crypto market suffers a bearish market sentiment towards the beginning of this year, non-fungible tokens have broken their previous revenue records instead – garnering an astounding amount in sales revenue this month. Opensea, a leading NFT marketplace, has broken its monthly sales record just last week, raking in $3.5 billion in sales in January so far, with about half a month still left.

The NBA collectibles, an NFT marketplace that kicked off the NFL boom almost a year ago, has now rebounded in the past 30 days. This rise can be largely attributed to the recent TV and social media ad campaign that featured Kevin Durant and was released a week before.

The ad featured a goofy game of one-upmanship between two die-hard Kevin Durant superfans, with a fun cameo at the end of Durant himself, strolling across Tompkins Square Park in NYC’s East Village.

Besides this, first-time buyers can now get a free Durant NFT ‘moment’ too.

About NBA Top Shot

NBA Top Shot, featuring NBA moments on the Flow blockchain, was among the first ones to kindle the NFT trend. Using the blockchain from Dapper Labs, NBA Top Shot started the NFT fad in March of the previous year. And according to Bitcoin, Top Shot had lost its shine by tanking last June, when another wave of non-fungible tokens became famous, with NFT collections like Bored Ape and Meebits at the forefront of this craze.

Referred to as the “NFT lite” by many, the Top Shot was seen as a collection aimed towards normies (by the NFT community), allowing purchases of its digital tokens to be made with dollars.

A 72% Boom In The Last 30 Days

According to data from CryptoSlam as reported by Bitcoin, the collection’s secondary market sales have shot up by 72% in the past 30 days, with a total of $53.8 million in sales.

As for Kevin Durant, he became an ambassador of Coinbase in December 2021, therefore making multiple moves in the current crypto marketspace. Nearly two months prior to this, Coinbase had become the official exchange of the NBA.

Sneh Dokania is an Economics major student with an inquisitive disposition seeking to articulate facts, information and news stories in a candid manner on Clout News.

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