Trading on the stock market and professional sports have a lot in common. Over the years many companies have tried to pair the two in the hope of encouraging football fans to show an interest in the world of investments. Few of these ideas have come to anything interesting. Football Index was, for many years, the most promising but the company behind that is now being wound up.
There is a new show in town and this one has people talking as it’s backed by the National Basketball Association. NBA Top Shot is a programme that uses blockchain technology to allow basketball fans and investors to own a piece of sporting history. For a clearer picture of what’s going on here, think collecting sports cards meets the 21st century.
NBA fans love to watch their favourite teams, attend the matches in person and even place bets on them at https://www.mytopsportsbooks.com/. Now they have the chance to own a rare NBA moment in time and showcase it to fellow collectors or sell it on, hopefully for a whopping great profit.
In this article, we tell you everything you need to know about NBA Top Shot, including what it is, how you can join, the costs, investment opportunities and more. Think of this as a one-stop for all your NBA Top Shot needs. It’s the aim of our writers to ensure readers have a full and proper understanding of how it all works, how they can make it work for them and the potential pitfalls associated.
What is the NBA Top Shot?
NBA Top Shot is the latest, and perhaps most modern, idea to hit the sports collectibles market. Based on the idea of collecting basketball cards, which has always been popular with children and adults alike in the United States, NBA Top Shot drags it into the digital era. Instead of collecting printed cards you collect famous video moments.
Not only do you collect the video moments, you have outright ownership of that video meaning no one can claim it or use it without your consent. Collect videos of your favourite teams, players and moments and show them in your profile. Other collectors can come and have a snoop around to see what you’ve got. They can watch your highlights and even make a bid on one or more videos in your collection but the decision on whether to sell or keep is yours. You are in complete control.
NBA Top Shot is a collaboration between the National Basketball Association and Vancouver based blockchain firm Dabber Labs. When first hitting the scene, it made waves and even caught a few potential collectors off-guard by just how modern it was. The idea has gone from strength to strength since, helped on by the official partnership with a giant of the sports world in the NBA.
Top Shot collectors are located worldwide with a spread of casual collectors with a collection worth a few dollars and the big hitters who see NBA Top Shot as a reliable investment opportunity. Interest continues to grow with new players signing up for an account at the official website every day. There looks to be no stopping the NBA Top Shot express train.
How to invest?
NBA Top Shot isn’t sold to customers as an investment opportunity, and there are no stocks or shares in the business you can purchase through the website as a basic member. Some collectors do see the collectable highlights as a potential money-maker in the same way collectors of sports cards collect to see for a profit.
There are two tactics when aiming to make an income from your Top Shot collection. You can pay a big fee for one of the most famous players and moments knowing its value will only increase, or you can play the long game.
Look for a highlight of a rookie you believe will go on to become a great of the game, and the value of his early highlights will rise throughout his career. Many adopt this approach as it’s a bit more of a gamble, but it allows them to call on their passion and knowledge of the NBA.
Source:Plato Data Intelligence
