The NBA has entered the world of digital trading cards, creating a new way for fans to collect and monetize their love for the game. These digitally animated cards have gained popularity and some are selling for thousands of dollars.
Digital trading cards on NBA Top Shot have sold $164 million worth of volume in the last 30 days, with a 24 hour increase of 165%. However, concerns have been raised about potential wash trading in the NFT market.
This podcast explains the difference between fungible and non-fungible assets, and how non-fungible tokens (NFTs) are disrupting the art and collector space.
The NBA has entered the NFT, or non-fungible token, space with the release of NBA Top Shot, a platform for selling digital collectibles featuring NBA highlights and moments.