Original Air Jordans.
Mint-Condition Rookie Cards.
Game-Worn Autographed Jerseys.
They’ll all need to make room for the future of basketball memorabilia investment: NBA NFTs.
The world of sports memorabilia is making a full-court press onto the digital paint. As the popularity of NFTs continue to grow, sports fans are getting in on the game — and racking up thousands of dollars in profit. With the NBA Top Shot bringing the greatest moments in the game to blockchain, NBA NFT investments are becoming just as valuable — if not more — than any other officially licensed NBA merchandise.
Time Out: What are Blockchains and NFTs?
There’s a lot of chatter these days about cryptocurrencies, blockchains, and NFTs…but what are they, and more importantly, how can they boost your bank account? Don’t worry, Swagger’s dropping dimes for you:
- Cryptocurrency is a digital currency exchanged online for goods or services. Individual types of cryptocurrencies include Bitcoin, Ethereum, and Dogecoin.
- Blockchain is the technology cryptocurrencies utilize, however, this technology can be used apart from cryptocurrencies. In a blockchain, “blocks” of data are stored and linked together with other blocks in a “chain” that is difficult to modify, and thus, substantially secure.
- NFTs, non-fungible tokens, are data stored on a blockchain. Because blockchains can’t be easily modified after creation, the blockchain helps certify the authenticity of the NFT. Every NFT is unique and cannot be replicated. NFTs can be essentially any form of digital content such as photos, images, videos, or audio files.
Over the last few years, NFTs of sports highlights have created a huge demand for these crypto collectibles. Everyone from your Cousin Tommy to billionaire Mark Cuban is getting in on the buzz and claiming their own piece of digital sports history for themselves.
NFTs and the NBA
Would you buy an NFT of LeBron James dunking on the Houston Rockets for $1,199? You should have; the fan that did scooped it up and resold it for $210,000. Think a $10 three-pointer from Fred VanVleet can’t possibly be worth more than an original pair of Air Jordans? Another fan took that bet and walked away with $140,190 after the resale.
Do you want in on the action? Then stop riding the bench and check out the NFTs on NBA Top Shot. This virtual hub for fans and fanatics alike is essentially a digital trading card system that allows fans to invest in NFTs. If you’re quick enough, you can purchase a digital pack for upcoming games and own the most memorable moments in NBA history.
DraftKings dug deep into the NFT market on NBA Top Shot. Their findings? These digital moments have the potential to eclipse traditional sports merchandise for investors. Their research indicates that NFTs rival Air Jordans and signed jerseys in terms of profitability, citing that as much as a 17,414.6% profit can be earned in a single year.
Kind of makes you wonder why you’re still dropping your paycheck on a mixed bag of trading cards, doesn’t it?
Over the last two years, more than $230 million has been bought and traded on the NBA Top Shot platform — and they’re just getting started. Right now, you can reserve the first 2021 NBA Playoff packs on NBA Top Shot for as little as $14. DraftKings’ research points to these Top Shot NFTs as the NBA merchandise to invest in this season.
This is your chance to get in the game and own the future of basketball memorabilia. Visit NBA Top Shot to invest in the great moments of NBA history yet to occur and check out DraftKings’ full report on NFTs and other record-breaking NBA memorabilia sales.