Want to jump down the rabbit hole that is the crazy NFT market? Not sure how to do it? Well in this article, we jump into where you can purchase, invest and collect NBA and other basketball related NFTs. Believe it or not, even with all the hype NFTs have been getting recently, we are really just in the beginning stages. Some experts have even said that the NFT market is only in the first inning right now. The uses for NBA NFTs right now are just digital collectibles, but as the market expands and grows the use of NFTs are almost limitless. The NBA may issue game tickets as NFTs and companies like Nike and UnderArmour may issue sneakers as NFTs in the future. Here are four places that you can get into the NFT market right now.
Top Shot- If you are interested in buying NBA NFTs and don’t know where to begin, NBA TopShot is your starting point. You may have heard about TopShot recently, and just how insane some NFTs are selling for on the Marketplace, well here is a quick rundown: NBA TopShot are official NBA licensed digital collectibles. Those collectibles come in the form of packs which NBA releases every few weeks. In these packs are video “moments” of current NBA players. You may be able to pull from a pack a Lebron James dunk or a LaMelo Ball assist. These collectibles are yours to own and you can collect them or sell them on the marketplace if you desire. We have found that securing packs are not always easy. As soon as you get the alert/tweet that TopShot is dropping a pack, you literally have to get in line within 5 seconds or less. Once online in a queue, you will have to wait until your number is called (if it does get called) and then you will be redirected to a page where you can purchase the newly released pack. Many times, TopShot may release a pack of 35,000 available packs, and when you jump into the queue your number maybe #99,999. You will definitely not get that pack. Many people do drop out of line, so if you are #40,000 for a release of #35,000, you may still have a chance, so just wait in line. As TopShot grows even more in popularity, expect them to drop a lot more packs in the future. We expect at some point this year for TopShot to also drop packs of past NBA players as well.
Panini- Panini Cards has officially entered the NFT market. We expect in the near future for other sports collectible companies like Upper Deck to jump aboard, but for right now Panini is the only place to get NBA Blockchain collectibles. Panini is offering digital (present and past players) NFT cards. They have them in Dutch auction format (meaning the auction price is initially set high and the price is periodically lowered until someone bids) and also in purchase format as well. The great part about Panini is that you can purchase past player NFTs, which is currently the only place to do so. NBA Top Shot does not have video highlights of former players just yet. Currently available are a Steve Nash NFT as well as a Hakeem Olajuwon NFT. We expect as the market to gain more interest, that the amount of digital collectibles offered by Panini to grow a well. Panini also offers NFTs for all the major sports including Football and Soccer.
Open Sea- OpenSea is the first decentralized, peer-to-peer marketplace for blockchain-based assets, which include crypto collectibles, gaming items, and other assets backed by a blockchain. As of now, OpenSea does not offer any official NBA NFTs, but we did scour and find other basketball related collectibles. For sale currently are digital basketball jerseys, basketballs and basketball hoops. We did notice that the basketball magazine Slam has also teamed up with OpenSea to offer NFTs of their magazine covers. Also available on OpenSea are basketball related blockchain domain names. So, if you are interested in basketballcards.eth, its available for sale on OpenSea. Most OpenSea transactions are handled using ETH, so remember to stock on your ETH before buying.
eBay- We put eBay on the list because we have found that collectors are selling some NBA Top Shot NFTs second hand there. If you happen to have an eBay account instead of an NBA TopShot account and are interested in investing in NFTs, you can do so on eBay. Currently for sale on eBay are TopShot moments of Luka Doncic and Paul George. They are currently being sold for $30,000 each. Don’t worry, digital shipping is free for those. One advantage to using eBay over the rest of the marketplace is can you use your PayPal account a well.