‘NBA Top Shot’ NFT Collection Witnesses 900% Jump In Sales After 2022 NBA Draft

You may “own, sell, and trade official digital collectible NFTs of the NBA and WNBA’s best plays and players” with the NBA Top Shot collection.

Following the conclusion of the 2022 NBA Draft, sports enthusiasts and collectors have over the past 24 hours filled their NFT bags with selections from the NBA Top Shot collection.

The NFT project, which was started in July 2020, gained the most of its success in the NFT fad of 2021. Data from CryptoSlam shows that since the collection’s debut, sales have totaled $1,011,895,237.38.

The NBA Top Shot collection is rated #7 on CryptoSlam’s list of NFT collection rankings by sales volume, with a 901.95 percent increase in sales volume over the previous 24 hours.

Data from Cryptoslam show that in the previous day, the volume of sales for the NBA Top collection increased by 901 percent. The sales were $1,253,456 as of the time of publication.

Data from CryptoSlam revealed that over 50,000 transactions were carried out in the previous day, with almost 5,000 new purchasers picking up items from the NBA Top Shot collection.

When examining this project’s performance in detail for 2022, it becomes clear that sales volume started to steadily fall in January. The worth of all logged sales was $59,020,026, according to the data.

The project’s sales in May were $13,931,450, a decrease of 76% over the previous five months. The widespread loss in sales in the NFTs market caused by the slump in the cryptocurrency market is responsible for this price drop.

Even after such an impressive jump in sales, the NBA NFT Collection failed to overthrow the Bored Ape collection. The market valuation of the entire NFT ecosystem is $22.97 billion, according to data from NFTGo. With a $1.73 billion market valuation, BAYC has a 7.28 percent market share as of right now.