NFT Marketplace Development like NBA Top Shot – A Detailed Overview
Author NBA Top shot Marketplace, NFT Marketplace Development
Digital collectibles have made a storm in the vibrant sports industry now. NBA Top Shot is a popular NFT marketplace that operates on the Flow blockchain network. Basketball fans can purchase a variety of collections and packs of their favourite matches, players, and teams. The online NFT trading platform has a daily trading volume of $490,961 as per DAppRadar. Entrepreneurs can use this golden opportunity and establish a customized NBA Top Shot marketplace. You can reveal the ambitious business goals to AppDupe and achieve them successfully.
A sneak peek into the NBA Top Shot NFT marketplace
Basketball enthusiasts can buy, collect, and also sell rare moments in the history of the glorious sport. Users of the NFT marketplace like NBA Top Shot get exciting rewards from different challenges. Generally, investors can purchase Starter or Booster packs as per their needs. Further, they can explore various moments, follow their most loved teams, and also receive social media updates about the launch of new crypto collectibles.
Importantly, Dapper Labs, a Canadian blockchain company controls and manages the NBA Top Shot NFT marketplace. All the sports fans can buy 100% licensed digital collectibles approved by the National Basketball Association (NBA), New York.
The trading volume of NFTs on NBA Top Shot has surpassed $4.5 million in the last 7 days. 21690 users have opened packs and bought or sold crypto collectibles by processing 172,120 transactions according to DAppRadar.
Key components of the NBA Top Shot Marketplace
The online NFT trading platform is divided into 3 elements (All Listings, Find a Moment, and Latest Sales). Likewise, basketball lovers can purchase the Latest Moments, Most Valuable Listings, and Nuggets Moments. Further, they can filter the searches by entering details of the players, sets, and teams.
The Latest Sales section contains real-time information about the image of the recently bought NFT, names of the buyers and owners, price, and time. Further, sports fans receive insightful data about the number of crypto collectibles (for sale, hidden in packs, not for sale, and unavailable for purchase).
Basketball fans who like certain players can see information like their age, date of birth, height, weight, and year which they were picked in the NBA Draft. They can know data such as the average points taken in a match, defensive rebounds (DREB), the number of blocks and steals, Offensive Rebounds (OREB), field goal (FG) percentage, Free Throws Made (FTM), and 3 Point Attempts (3PA), and Turnover Percentage (TOV).
Non-Fungible Tokens (NFTs) in Brief
Concerning basketball, NFTs are unique crypto collectibles powered by decentralization and transparency. All the digital collectibles of the NBA Top Shot marketplace are created and minted via the Flow blockchain network. Generally, Non-Fungible Tokens (NFTs) come with special features like indivisibility, interoperability, non-interchangeability, and scarcity.
For example, the Base Set 2 NFT on the NBA Top Shot contains details like the number of moments in each pack, the packs per collector, the price, release number, and the series number. Accordingly, sports fans can purchase both common and legendary moments.
NBA Top Shot Working Model
Initially, users need to create a Dapper account. It is a digital wallet that uses smart contracts to give 100% control of crypto assets to sports fans. Importantly, device Keys with 100% encryption help in the swift processing of transactions.
Later, basketball enthusiasts can sign up on the NBA Top Shot NFT marketplace by syncing their Google account. For instance, sports lovers can tap the crypto collectible representing a video of Kevin Durant, a popular basketball player.
They can get information like the date and time of the match, a description of the crypto collectible, the lowest ask price, and the type of NFT (Common, Rare, and Legendary).
Moreover, new NFT drops occur regularly. Sports fans receive regular updates via email and social media. Hence, they do not miss out on a lucrative crypto collectible.
Importantly, the Latest Listings section attracts a lot of attention on the NBA Top Shot NFT trading platform. Moreover, users will know the average sale price, the number of collectors and listings, and the top-selling price of a digital collectible.
Disrupt the sports industry with an NBA Top Shot Marketplace
Connect on WhatsApp How much is the cost to purchase a Moment on the NBA Top Shot marketplace?
The cost of a specific Non-Fungible Token (NFT) depends on the number of (assists, points, and rebounds), star value of the basketball professional, and the team which he/she represents. Users can sort out their preferred digital collectibles based on the lowest ask price (ascending to descending) and the serial number (lowest to highest).
How can sports fans buy the Moment from the NBA Top Shot platform?
Generally, sports buffs can process transactions for either Card Packs, Rising Star Packs, or Singular Top Shots. In case, the Top Shots run out of stock, users can purchase precious crypto collectibles on the secondary NFT marketplace. They execute the payment and receive the digital collectible to their Dapper software wallet.
Dapper Wallet offers multi-layer security measures like flexible resetting of passwords, fraud protection, multi-signature mechanism, quick account recovery, and two-factor authentication. Investors can also safeguard their funds by pressing the Suspicious Requests option.
Know the importance of the Flow blockchain network
Flow is a scalable blockchain platform that establishes the foundation for the NBA Top Shot NFT marketplace. Importantly, it is apt for digital asset management and integration with Dapps and games. At AppDupe, we use the Cadence programming language for creating sturdy smart contracts.
Besides that, the Flow blockchain network offers protection against malicious attacks, quick processing of transactions for incurring gas fees, and swift recovery of lost keys for users. There are 4 nodes integrated with Flow (Collector, Execution, Verifier, and Consensus). It enhances the operating efficiency, scalability, accuracy, and decentralization respectively.
The different stages to build the NBA Top Shot Marketplace
It includes various phases like
- Business analysis
- Market research of the sports collectibles industry
- Complying with the laws of regulatory authorities
- UI/UX designing
- Smart contract deployment on the Flow blockchain network
- Integrating the Dapper wallet with the NBA Top Shot NFT platform.
- Adding all the needed features into the online marketplace.
- Testing the security and speed of the digital trading platform.
- Removing loopholes and other vulnerabilities.
- Launching the NFT marketplace for selling basketball collectibles at the right time.
Why choose AppDupe for NFT marketplace development like NBA Top Shot?
AppDupe offers a range of high-quality services. It includes API integration, digital marketing, layer 2 upgradation, maintenance of the functioning of the NFT marketplace, smart contract auditing, software upgradation, and technical assistance.
Our professional team is very skilled in creating NFT marketplaces for selling sports collectibles. Therefore, entrepreneurs like you will experience a surge in cash flow, daily investor activity, revenue, and total sales of digital collectibles.
Wrapping Up
Undoubtedly, the NBA Top Shot platform is a resounding success in the market. Overall, 423,470 traders have purchased 80,41,586 crypto collectibles from the online marketplace. The total trading volume since its launch has crossed an unbelievable $654.63 million. Hence, entrepreneurs like you can take the lead by building an NBA Top Shot marketplace. Set the ball rolling now, contact us, and entice die-hard sports fans soon!
Curate an NFT Marketplace like NBA Top Shot and capture the minds of sports fans
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