Category: NFT Platforms

Sporting memorabilia has consistently ranked high among the most popular collectible markets. Whether it’s a historic baseball trading card or a signed NFL jersey, buyers crave more, including items from their favourite basketball players. Today, we’re discussing the most valuable NBA NFTs, including those available on the hugely popular NBA Top Shot NFT marketplace.

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Why NFTs?

NFTs stand for non-fungible tokens that are created using blockchain technology. NFTs allow digital works to be bought and sold virtually by transferring ownership through the token part.

NBA NFTs 

The NFT craze is a perfect space for digital sporting moments, and that’s why NBA Top Shot has gotten huge with fans globally. This site allows collectors to own slices of basketball history, including official NBA-licensed video highlights.

What You’ll Find in NBA Top Shot NFTs

The site is renowned for licensed video NFTs featuring player debuts in the paint, notorious plays or game-changing slams by basketball legends. Some of the rarer videos have sold or traded for hundreds of thousands of dollars!

Most Valuable Top Shot NFTs

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You’re here to find out the most valuable NBA NFTs, so let’s get into our list! First up is ‘King James.’

2020 NBA Finals Run LeBron James Dunk

This phenomenal moment in sports history is incredibly significant. Note the serial number that drove this NFT’s value up – it’s LeBron’s jersey number. 

• Sold for $230,023 in August 2021
• Series: 2020 NBA Finals (Series 1)
• Serial number: #23 
• Rarity: Legendary (1 of 79)

NFT recap: LeBron effortlessly catches an Alex Caruso pass and lands a powerful slam dunk against the Miami Heat, his former team.

2019-20 LeBron James Dunk

In LeBron’s Top Shot debut NFT, it’s interesting that the serial number doesn’t match James’ jersey. The seller, “Sparky_24,” initially drew this NFT from a pack, so he made a sweet profit.

• Sold for $208,000 in February 2021
• Series: Cosmic (Series 1)
• Serial number: #29 of 49
• Rarity: Legendary (1 of 49)
• Current owner: “jesse”

NFT recap: James makes it clear he can still throw down with the best when he postures a rival Kings defender and mean-mugs to the delight of Staples Center fans. 

As any NBA super-fan knows, there must be plenty of LeBron James NFTs. That’s right, and we’ve got the details here in our LeBron James “list within a list”:

2019-20 LeBron James Dunk

• Sold for $125,000 in February 2021
• Series: From the Top 
• Serial number: #12

NFT recap: Although this NFT in the From the Top series sold for more, the next NFT is more significant in the NFT space for two reasons. This LeBron block NFT was drawn from a pack by “j1mmy.”

2019-20 LeBron James Block

• Sold for $100,000 in January 2021
• Series: From the Top
• Serial number: #1 of 59
• Current owner: “spicy_seal2934”

NFT recap: Serial #1 in the From the Top series is significant because it was the first sale of this James collectible, and its $100,000 price tag was as high as a Top Shot NFT could go for in January 2021.

2019-20 LeBron James Dunk

• Sold for $100,000 in February 2021
• Series: Throwdowns 
• Serial number: #1 of 275
• Current owner: “greekfreak”

NFT recap: The seller, “Pranked,” emerged as the biggest earner in the early days of  NBA Top Shot. He’s spent $348,000 in the marketplace and made +$4 million.

2019-20 LeBron James Dunk

• Sold for $99,9999 in February 2021
• Series: Holo MMXX 
• Serial number: #12 of 32
• Current owner: flamboyant_mangosteens7204
• Rarity: Legendary

NFT Recap: $1 shy of $100K, this LeBron Holo collectible is the most expensive without a Serial #1. Seller “Pranked” drew this one from a pack.

2019-20 LeBron James Dunk

• Sold for $99,999 in February 2021
• Series: Base Set
• Serial number: #6

We could probably begin and end with King James, but there are other big-ticket NBA player NFTs to mention.

Let’s get into this, starting with Memphis Grizzlies Guard Ja Morant.

2019-20 Ja Morant Dunk

This NFT is a Challenge Reward that cannot get pulled from the pack.

• Sold for $100,000 in February 2021
• Series: Holo MMXX (Series 1)
• Serial number: #8
• Rarity: Legendary (1 of 25)

NFT recap: In his Top Shot debut, Morant tests the opposing defence in his 2019 rookie year. 

Next up, we have New Orleans Pelicans Forward Zion Williamson.

2019-20 Zion Williamson Block 

This NFT was the first sale drawn from the Holo pack, sold by “MatthewWoodsi.” This NFT’s value should increase because the serial number is Williamson’s jersey number. 

• Sold for $100,000 in January 2021
• Series: Holo MMXX 
• Serial number: #1 of 50 (jersey number)
• Current owner: “jerlevine”

NFT recap: Buyer Jeremy Levine is a huge player in the sports speculation arena. He recently launched the platform Underdog Sports for year-long fantasy games and Levine’s previous venture as a fantasy app, Draft.

Next up, back-to-back MVP in the NBA (2019, 2020), Giannis Antetokounmpo, Power Forward with the Milwaukee Bucks. 

2019-20 Giannis Antetokounmpo Dunk

• Sold for $95,000 in February 2021
• Series: Cosmic (Series 1)
• Serial number: #47
• Rarity: Legendary (1 of 49)

NFT recap: In his Top Shot debut, Antetokounmpo’s strength and quickness show as he blows past a Pacers defender and throws down a slam.

A two-time MVP deserves another mention, right? So here’s another moment from Antetokounmpo:

2019-20 Giannis Antetokounmpo Dunk

With his staggering presence in the NBA, it’s a bit strange that other Top Shot moments have surpassed Antetokounmpo.

The seller of this Antetokounmpo jersey moment, “Pranked,” drew it from a pack.

• Sold for $85,000 in February 2021
• Series: Holo MMXX
• Serial number: #34 of 50 (jersey number)
• Current owner: “Libruary”

NFT recap: Antetokounmpo reaches sky-high for a signature left-handed dunk during a game on November 16, 2019, overpowering two Pacers defenders in the process. 

Finally, we complete our list with a suitable candidate for NBA MVP every year, Golden State Warriors Point Guard Stephen Curry.

2020-21 Stephen Curry Handles

Seller “Alex” drew this Steph Curry moment from a pack, and this Serial #1 is the most expensive Curry moment sold to date.

• Sold for $85,000 in February 2021
• Series: Deck the Hoops 
• Serial number: #1 of 40
• Current owner: DeepThreePointer

The majority (if not all) of the NBA are enthusiastic about NBA NFTs, and the league’s leading players see great opportunities for themselves and the legacy of basketball.

Final Thoughts About Top Shop Moments and NFTs

Some skeptics call NFTs “just a bubble.”

While they mean the entire NFT space, there’s strong reason to believe that NBA NFTs and NBA Top Shot NFTs have a promising future, as Dapper Labs works with the league for even better fan and player interaction.

Proof of this is their joint creation of a virtual game called NBA Hardcourt. Immersive and interactive, NBA Hardcourt will allow virtual players to create their own NBA Moments basketball teams and use collectible Moments to upgrade their skills.

If you’ve already purchased a non-fungible token (NFT), you may think NFTs are popular. Here’s proof:  

• In 2021, non-fungible token sales hit $25 billion globally (reported by international media outlet Reuters).
• That’s a 260x increase over 2020 when NFT sales were $94.9 million.

For anyone starting their NFT journey, we’ve got more valuable information for you.

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What Does Fungible Mean?

Many people get confused by the term “fungible,” but it’s what makes every non-fungible token unique. 

Money is fungible because you use currency (let’s say a $10 bill) to buy something, and any $10 will do. NFTs are one-of-a-kind, not interchangeable like money.

What Does Token Mean?

NFTs appear to be digitized images. That’s why they call it crypto art. But, technically speaking, the NFT is not the picture or video game you see.

The “token” in NFTs is more like a certificate of authenticity that digital artwork exists in blockchain data. When you buy a non-fungible token, it gets stored in your cryptocurrency wallet.

You could also compare an NFT to the deed for a house. The deed isn’t physical property, but it proves your ownership.

Measuring the Financial Impact of NFTs

NFT art collections are getting sold for insane amounts of money!

Check this out: 

• In March 2021, a collection of NFT images by world-famous artist Beeple was auctioned at Christie’s for $69 million. Everydays: The First 5,000 Days is a non-fungible token now owned by the buyer. 
• CryptoPunks characters were the first crypto artworks created in 2017. Individual characters have gotten sold at auction, and many are worth multi-millions.

How NFTs Change Online Business 

NFTs make selling digital art easier online. When you buy an NFT, you can collect royalties when your art is copied or displayed online. NFTs may also become the best way to enforce trademark laws digitally.

An NFT is a consumer guarantee that the work they’ve bought is genuine. For artists and musicians, it means their work can’t be shared or sampled for free anymore.

It could also mean that gatekeepers like Spotify or Amazon may no longer get a significant chunk of artist earnings—in time, NFTs containing artwork or music may cut out the go-betweens.

Proving an NFT Is Yours

When you buy an NFT, your token is a few computer bytes (with a URL or serial number) stored in your cryptocurrency wallet under your blockchain address.

It may be just a tiny digital record, but the token proves that you own genuine digital artwork. No one can take or use your NFT unless you sell it, trade it, or gift it.

When to Sell an NFT

It’s not easy to know when to sell your NFT as a fixed-price listing!

The NFT marketplace is still evolving, and there’s always a risk that you’ll buy too soon or hold on too long. However, here is our best advice.

Have an Exit Strategy

We recommend an exit strategy to anyone acquiring NFTs:

• Is this a short-term purchase or long-term?
• Are you making a rational decision? Selling because you’re scared (or greedy) could result in a loss.

Let’s look at short-term and long-term purchases more closely.

Short-Term NFT purchases last for days to a few weeks. It’s a strategy that can pay off if hype grows around an NFT artist or project.

Do your homework to get an NFT early at the best price. Then, sell it based on the highest trading volume in an NFT marketplace (we’ll discuss that more below) and how many followers are interested in NFT community groups on Twitter.

Long-Term NFT purchases can be great investments, but it doesn’t always pay to buy into a project early. Long-term means studying artists with a solid track record of projects and community interest.

It’s crucial if an NFT is for a playable video game—prices can plummet if the game doesn’t gain followers and stay popular. 

It’s also essential to choose NFT categories that aren’t oversaturated and could diminish your NFT’s marketplace value. 

Trading Volume Is Important

NFT marketplaces track how often NFTs sell. It’s called the trading volume. Make sure to watch NFTs in your category because it’s harder to sell in with too many listings in competition. 

On the flip side, keeping a non-fungible token price high and the sale active when there’s liquidity in an NFT marketplace is often safer.

How to Price Your NFT

There’s currently no fixed way to price a non-fungible token. It all depends on this:

• How long you’ve had it
• Trading volume, market hype, and seller interest
• How much profit do you want

Here’s an example of a pricing strategy. If you want to sell a non-fungible token tomorrow and see that five comparable listings have sold today, you need to price your NFT within the same range as the successful sellers.

Averaging Out Your Exit

Selling NFTs can be as speculative as dealing in stock markets! 

It’s unrealistic to think you’ll sell at the top every time. So instead, consider averaging your exit:

• If you own multiple NFTs from one artist’s project, consider selling gradually instead of a group sale.
• For the short-term, this means selling one NFT and waiting three days, and for the long-term, space out your listings between a few weeks to a couple of months.

Are NFT Auctions Better for Sellers?

Some NFT owners only sell through what’s called a Dutch auction. This type of auction means a set starting price and ending price for a set length of time.

This auction begins at the set starting price. Then, the price gradually drops until the non-fungible token sells or the auction ends.

A Dutch auction can work well when an NFT marketplace doesn’t provide precise data to set an acceptable price range.

It can work equally well when you just want to liquidate your NFTs. For example, setting a start-to-end price range at a lower level might spark buyer interest and get you a higher auction bid than if you’d sold at one fixed, lower price.

Protecting Your NFTs From Cyber Attacks

To ensure safe storage of NFTs, online security specialists recommend a non-custodial or “hot storage” crypto wallet with a seed phrase (like a master password).

You could also store your NFTs in “cold storage,” an offline drive that’s virtually impossible to hack.

In closing, never trust suspicious offers to buy your NFTs. A hacker may email you an infected link to gain access to your computer. Double-check all email addresses and only open correspondence from trusted sources!

If you’re wondering how to invest in NFTs, you may also be concerned about the pros and cons of NFTs. You need to know the proper steps to NFT investing or whether NFTs are a good investment after all. We’ve got answers, so let’s get started.

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What Is an NFT?

NFT stands for a non-fungible token, and every token is unique—that’s what non-fungible is (money is interchangeable or fungible).

Real-world digital art, music, videogames, or app purchases become NFTs with blockchain technology, and when NFTs get sold, the buyer’s data is embedded in the token to prove ownership.

Where Are NFTs Kept?

As NFTs got more popular and transactions sped up, some owners managed NFTs as they’d always done with cryptocurrency. For example, they used mobile apps for web-based cryptocurrency exchanges like Coinbase Global, Inc., Binance, or FTX.

While managing NFTs on a smartphone is easy, it’s also more convenient for scammers to hack into these sites and steal NFTs.

Always Use a Secure Wallet to Hold NFTs

Buyers and owners of NFTs need either an online or hardware wallet to hold their works, with some experts preferring hardware wallets to store NFTs offline.

Digital utility providers like Metamask, Coinbase Wallet, or AlphaWallet use secure protocols, including long passwords called seed phrases. They also act like master keys to authorize transactions, but since it’s online, cyberattacks are still possible.

Pros of NFTs

Blockchain technology ensures that every NFT using its cryptocurrency is authentic and its ownership is easily verifiable. Here are other benefits of NFTs:

• NFT smart contracts allow quick ownership transfers once the buyer and seller meet specific conditions.
• NFT creators or sellers often get actual value for their works, and they can collect royalties because their information gets embedded in the token’s metadata.
• Buyers have a variety of liquidity options because of different NFT assets.

Cons of NFTs

The NFT craze is still relatively new, and with that comes a degree of uncertainty.

Here are some risks of NFTs:

• As with many new technologies, NFT prices can be high or even prohibitive.
• It’s impossible to confirm if NFTs will hold their current values long-term.
• When NFTs aren’t stored securely, there’s always a risk of cyberattacks.
• Buying and selling NFTs may also come with hidden fees—we explain this more in the next section.

Steps to Invest in NFTs

Investing in NFTs is easier and more secure with the following four steps. We suggest that any NFT investor should follow these steps in order.

1. Do Your Research

Google searches for NFTs will present you with a mind-numbing amount of information! But it’s always best to know more than less about any investment.

Twitter can also provide reliable information on NFTs because of their active creator, collector, and fan community. Other platforms like Discord or Telegram offer chats on people’s feelings about specific NFT projects.

Finally, search for “Rarity Tools” or “NFT Catcher IO” for upcoming NFT listings released on the ETH or SOL blockchain.

Note when sales are taking place, what cryptocurrency is used, and the number of NFT sales scheduled—this helps to gauge current and future values and the rarity of a particular NFT.

2. Buy Your Cryptocurrency

Many NFT platforms use Ethereum (ETH) as their primary cryptocurrency, but notable exceptions exist.

Cryptocurrency is sold through online brokerages like Coinbase, Kraken, Robinhood, Gemini, or Binance (US).

3. Set Up Your Digital Wallet

You require a “wallet” to store cryptocurrency and NFTs, and as we discussed, digital or hardware wallets are available.

You always require adequate cryptocurrency to complete transactions. This amount includes purchases and transfers or converting cryptocurrencies.

Although some NFT marketplaces like OpenSea are trying to find ways around the increasingly high fees for the electrical power needed to record blockchain transactions, gas fees can still be an issue.

Always review an online utility provider’s safety standards carefully for how they secure wallets online. Some NFT investors prefer hardware wallets offline for greater security.

4. Select a Platform

After funding your wallet with cryptocurrency, prepare to go shopping for NFTs!

The following NFT marketplaces are currently the largest and most popular:

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OpenSea, using Ethereum, Polygon, and Klatyn cryptocurrency

Software developers Devin Finzer and Alex Atallah created OpenSea in 2017. They claim it’s “the first and largest NFT marketplace” for everything from digital real estate to The Weeknd’s sound loops. OpenSea filters their NFTs by price and rarity.

There’s a tab on OpenSea that resembles a stock market ticker, and it ranks sales volume, average prices, and numbers sold. NFTs are sold at fixed prices or through auction bids, with offer records stored on every user profile.

Rarible, using ETH and RARI cryptocurrency

The Rarible marketplace sells NFTs ranging from gummy bear GIFs to animated video commemorations of undefeated Floyd Mayweather Jr.’s 50-0 boxing record.

Rarible’s layout resembles Spotify, and you scroll through stacks of columns for top sellers, hot collections, or live auctions. In addition, a governance token called RARI gives Rarible’s most active users the ability to vote on platform upgrades and other decision-making.

The Sandbox, using SAND cryptocurrency

This videogame platform allows players to monetize their experiences on the Ethereum blockchain. The Sandbox uses SAND as a game fee and utility token.

Creators on The Sandbox use 3D voxel modelling technology called VoxEdit, and they publish their digital works to the website’s marketplace for sale. These works get edited into virtual land parcels, altering the game through scripted behaviours.

Are NFTs the Right Way to Invest?

There are definite opportunities to create wealth through NFT investing, and it’s more accessible and more secure, thanks to the benefits of tokens and blockchain technology.

Be careful when adding NFTs to your investment portfolio and limit any single-asset risks that could derail your wealth-building.

To summarize:

• An NFT ensures the digital work you buy is authentic and that you’re the rightful owner.
• When you buy NFTs, your investment can have various liquidity options considering the many available asset types.
• When you buy an NFT, make sure to be familiar with the creator, how rare their work is, and the ownership history.

The best way to invest in NFTs starts with researching, especially how much cryptocurrency you need and how to keep your NFT investments secure. Good luck in the NFT space!