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NBA Top Shot’s Run It Back NFTs Record 7 Purchases per Minute By CoinQuora

by Mike Robinson

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NBA Top Shot’s Run It Back NFTs Record 7 Purchases per Minute
  • Many of the NBA Top Shot collectors get into the NFT craze, and they are obsessed with the Retro NFT Packs.
  • NBA Top Shot suggested that 7 NFT packs are purchased per minute on its Twitter account (NYSE:).
  • Additionally, this tweet mentions 9,921 transactions in Run It Back 2005 – 06 Moment Collectibles.

NFTs (nonfungible tokens) saw an unstoppable rise in 2021. One of the major contributors to this growth is NBA Top Shot — an officially licensed digital collectables marketplace.

Crypto Slam claims that the market already has a large daily volume. However, with NBA Top Shot’s new collectables, Run It Back, it catapulted to over 440% daily volume from $829,520 on Oct. 14 to around $4.5 million the next day. Additionally, over $4 million of tokens were already in circulation the day following.

In addition, NBA Top Shot tweeted yesterday, October 17, that around 10,000 Run It Back packs have already been sold in 24 hours — with a rate of seven purchases per minute.

The NBA Top Shots non-fictional videos, which highlight important moments in NBA history, are included in the NBA Top Shots NFTs. The latest packs, Run It Back, celebrate the stars of the 2005 – 2006 season. More so, it features three tiers of rarity — common to legendary.

The packs cost $169 per piece. Collectors compete and try to snag NFTs depicting the basketball legends like Lebron James and Shaquille O’Neal.

According to data, $744 million in secondary sales has been made by the NBA Top Shot marketplace since July 2020. With $45.7 million in trades, the market saw its peak trading activity during the first quarter 2021. The peak occurred in less than 24 hours from February 22.

Meanwhile, NBA Top Shot is now the third-largest NFT project by daily secondary volume, thanks to its recent weekend surge — slightly falling behind and Crypto Punks.

Dapper Labs (the team behind Top Shot) announced that it plans to grow and expand beyond basketball. In partnership with the National Football League, Dapper Labs plans to also launch an NFT platform as well as a marketplace. DapperLabs plans to launch its first NFL drop before the year ends.

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