Non Fungible Tokens (NFT’s) have taken the crypto world by storm in recent times. It refers to unique cryptographic tokens that exist on robust blockchain networks. NFTs act as digital certificates with proof of ownership and cannot be interchanged with other users. They can be easily created, have a high trading volume, and are accessible for trading through numerous marketplaces.
What is an NBA Top Shot clone?
It is a customized and ready-made marketplace for trading NFT’s especially sports cards on the Flow blockchain network. Each NFT that exists in the form of fully licensed digital collectibles is unhackable and its data is stored in the immutable distributed ledger. The NBA Top Shot clone facilitates the speedy execution of peer-to-peer transactions.
What does NBA Top Shot imply?
It is a well-organized marketplace – where digital collectibles related to the NBA (National Basketball Association) league are bought and sold. NBA Top Shot emerged in the market in October 2020.
All NFT’s sold on the platform include video clips– of matches along with statistics of players and games.
More than $250 million of sales – have been made on the NBA Top Shot platform in the last month.
A blockchain company named Dapper Labs – that developed the NBA Top Shot platform earns 5% in transaction fees for every NFT bought and sold by users. Dapper is valued at more than $2 billion now due to NBA Top Shot’s increasing popularity.
The player’s association of the NBA (NBPA) – also earns some commission from the total NFT sales on NBA Top Shot.
Some latest news related to NBA Top Shot and the NFT industry
A 12-second video clip of LeBron James – one of the legendary NBA players, was sold for a price of $208,000 to a user named Jesse Schwarz on the NBA Top Shot platform in February 2021.
From having only around 10,000 users – at the beginning of 2021, the total user base has soared to more than 500,000 now on the platform.
The total trading volume on NBA Top Shot – has crossed $50 million and transactions on the platform have surpassed 1.22 million.
There were a total of 4 million sales – of trading cards in the USA in 2020.
eBay’s platform sales of Basketball cards grew – by an impressive 373% last year.
How to make money from the NBA Top Shot Clone
More income can be earned depending on the rise in the value of the NFT’s.
The demand for these limited edition digital collectibles is very high due to the scarce supply.
There is a big world market for virtual sports cards embedded with photos and statistics of top basketball players.
Users can earn huge revenue if the NFT they are buying is that of a famous player and if it is a rare moment in the sport of basketball.
NFT buyers can get hold of the limited packs by signing up for the “Drop” on the platform at the right time.
The digital collectibles sold on NBA Top Shot can also be used in popular games as tradable tokens.
Users can also resell the digital collectibles that they have bought on NBA Top Shot by listing them on the leading e-commerce platforms.
Though it is a speculative asset, some investors have earned around 20 to 50% in returns through the resale of basketball cards.
Get started with the development of NFT platform like NBA Top Shot
NBA is one of the most competitive basketball leagues – in the world with a star-studded list of players.
Sports is always discussed actively on social media platforms – and NBA Top Shot has succeeded in tapping that big growth-oriented market.
The Top Shot NFT marketplace is very unique – in the sports industry now and it has no competitors.
Some early buyers of digital collectibles – can even become crypto millionaires in the future if the value of NFT’s rise.
End-to-end encryption on the Flow blockchain network – ensures a high level of security and prevents any hacking attacks guaranteeing greater user trust and safety.
Investors believe that the value of the digital collectibles will rise – in the future and are resorting to buying them quickly to avoid being a victim of FOMO (Fear of Missing Out).
How to buy NFT’s from the NBA Top Shot Clone?
The interested users have to register on the NBA Top Shot clone platform by submitting the required information.
They can see the different packs available on the NFT marketplace.
Payments for the NFT’s can be made on the NBA Top Shot clone through debit cards, credit cards, VISA, Mastercard, Dapper digital wallet, the leading cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash, and popular stablecoins such as USDC and Dai.
Buyers can publicize their NBA Top Shot collection and become very famous on the platform.
A variety of digital collectibles like jerseys worn by players, in-game highlights, and sneakers can be bought by users from the NBA Top Shot clone.
No fees need to be paid by the users for listing or delisting a “Moment” on the NBA Top Shot clone’s marketplace.
Why is the NBA Top shot trending in the NFT Marketplace now?
NBA Top Shot is the third-largest NFT marketplace – according to data from dappradar.com. It has 15,365 daily active traders with a 24-hour trading volume of $2.94 million.
A mobile game is set to be introduced – on the NBA Top Shot platform this year where users can buy their “Moments” and use them for participating in different tournaments. This will help the NFT marketplace to easily attract a lot of gamers.
The growth in NFT’s has exceeded – the returns of the major cryptocurrencies listed on both centralized and decentralized exchanges as well as the top DeFi projects.
How does the NBA Top Shot clone function?
NBA Top Shot clone runs efficiently – on the Flow blockchain network.
Each NFT is known as a “Moment” – on the NBA Top Shot clone platform. They are sold for limited numbers of exclusive basketball cards at a price range of $9 (Common), $22 (Rare), and $230(Legendary).
Various packs like – “Rising Stars” and “Seeing Stars” are available for a certain price.
Users can get access to exclusive merchandise – by following their favourite basketball teams and players.
Fast transfers – The digital memorabilia is quickly transferred to the NFT buyers.
Announcements will be made – on the official NBA Top Shot website and the top social media platforms whenever there is a sale of digital collectibles through an auction.
A comprehensive list – ofTop Shot collectors and Certified Ballers will be regularly updated on the site with the history of their activity and total points earned.
How to develop a top-notch NFT platform like NBA Top Shot
Determine the business requirements of the firm and the goals to achieve in the sports industry by attracting basketball fans.
Hire blockchain developers who are well-versed in using the Flow blockchain network. They can be used to build games, DApps, and digital assets.
Store all details of the assets on IPFS (InterPlanetary) File System which is a 100% peer-to-peer protocol.
Download Node.js to use the smart contract of the Flow blockchain network written in the Cadence programming language.
Deploy the contract by sending instructions to the command-line interface (CLI) of Flow.
Create an empty NFT collection post-deployment of the contract.
The owner of the contract can now start minting NFT’s.
The contract will soon be displayed live on the Flow network.
Check if an asset can be listed by uploading, for example, a video on the IPFS.
Enter the details of the minter and the receiver to start the execution of the transaction.
Press the “Deposit” button to get the NFT’s directly to your digital wallet.
The details of the NFT will be stored securely in the IPFS.
The NFT marketplace like NBA Top Shot can be launched officially in the market now.
What are the various solutions that we offer for creating a state-of-the-art NBA Top Shot Clone?
In-depth technical assistance in establishing a sports marketplace for selling basketball-related goodies.
Apart from basketball, we can also create a global sports goods shopping mart for other leading sports
Developing a crypto-compatible wallet for easy transfer of funds for buying digital collectibles using the leading cryptocurrencies.
Support in organizing successful auctions of limited-edition “Moments” and “Sets”.
Sharing expert insights on how users can open packs and build an exclusive collection of “Highlights”.
Implementing marketing campaigns across several communication channels like email, paid promotions, and social media platforms. Information is published about the date and timing of the “Drop of the Pack” to attract interest from more investors to the platform.
Appdupe has an experienced developer team to make a cutting-edge NBA Top Shot clone. Adequate steps will be taken to popularize the NFT marketplace like the NBA Top Shot clone by promoting it aggressively. This will make it stand out distinct from the intense competition in the industry.
The significant growth in the demand for NFT’s in the market indicates a huge interest in cryptocurrencies as a viable investment alternative. It has changed the sports and gaming industries forever. The digital economy will continue to soar in the future powered by blockchain technology and the phenomenon of NFT’s. This will eventually lead to the usage of virtual assets overtaking physical assets.
Initiate the creation of an NFT marketplace similar to NBA Top Shot
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