Basketball Meets Blockchain — March 4

Chart of the Day

NFT Bloom: NFTs have been rapidly trending up for the past few weeks, with many examples of art-technology crossovers hogging the headline. NFTs’ rise is largely comparable to the 2017 ICO boom — everything minted as an NFT seems to have intrinsic value. Not to mention the increasing star-dazed participation, from celebrities to sports stars to commercially successful artists. Of course, the application of NFTs is yet to be explored. As the industry matures, who knows if there will be a stronger connection between intellectual property-related assets and NFTs?

Talk of the Town

Basketball Meets Blockchain: Since its launch late last year, Top Shot, a blockchain-based marketplace of NBA-related collectibles, has gained traction with more than 50,000 bought-in and 237k unique addresses in the past week alone, roughly equivalent to 95.8% of all NFT users. Just this Wednesday, a blog update announced that NBA unveiled its 2021 Rising Stars rosters on Top Shot. The hand-pick 21 highlights from the 2020-2021 season have been immortalized on blockchain as digital collectibles.