Retro NFT packs drive frenzied Top Shot speculation
Collectors of NBA Top Shots love NFTs that celebrate significant moments in basketball from the mid-2000s.
The weekend saw a surge in trade volume for NBA Top Shot’s Nonfungible Tokens. This was after the launch of the retro Run It Back 2005/06 packs on Friday Oct. 15. According to Crypto Slam, Top Shot’s daily volume jumped by more 440% from $829520 on Oct. 14, to more than $4.5 Million the next day. On Oct. 16, more than $4 million worth tokens traded hands. The last 24 hours have been a busy one. We’ve seen 9,921 transactions in the last 24 hours for Run It Back 2005-06 Collectibles. Find RIB Moments https://t.co/fuCnRDcRJA pic.twitter.com/LcxNHsiwuE– NBA Top Shot (@nbatopshot) October 17, 2021
The packs cost $169 each and collectors competed to win moments featuring basketball legends like Shaquille Oleson and LeBron James. Top Shot packs have three levels of rarity, ranging from “common”, to “legendary” and include three tiers of rarity. Crypto Slam data shows that the NBA Top Shot marketplace hosted $744 million in secondary sales since July 2020. Top Shot’s trade activity reached its peak in the first quarter of 2021 with $45.7 million worth trades in just 24 hours. Dapper Labs currently targets to complete its first NFL drop by 2021.
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