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A beginner's guide to NBA Top Shot NFTs

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The collective sales volume of NBA Top Shot NFTs has dropped 99% from its February 2021 peak.

NBA Top Shot is a nonfungible token (NFT) marketplace that enables basketball fans to buy, sell and trade NBA-themed digital collectibles.

These collectibles are "Moments" — NFTs of NBA video clips and digital art — available per their degree of rarity. In other words, users can trade NFTs that feature anything from a winning three-pointe from Luka Dončić to a dunk from Lebron James, depending on their availability.

08b6ca20-dad9-4259-9d03-b6853639e866.pngA NBA Top Shot Moment listing example. Source: Official Website

The concept is akin to traditional sports collectible where fans attempt to acquire the rarest of items associated with teams, with an aim to either collect or sell it later at a higher price. Except, in the case of NFTs, these collectibles are digital — unique cryptographic tokens that exist on a blockchain and theoretically cannot be replicated.

How does NBA Top Shot work?

NBA Top Shot is officially licensed by the NBA, the NBA Players Association, and Dapper Labs. The marketplace runs on the FLOW blockchain, which Dapper Labs built as a developer-friendly ledger to support "the next generation of games, apps, and digital assets."

As explained above, the NBA Top Shot platform functions like trading cards. It starts with the NBA licensing its reels and digital art to Dapper Labs. In turn, Dapper Labs uses the footage to create Moments as NFTs.

Each Moment has a unique serial number attached to it, which guarantees its authenticity and shows its rarity. In addition, the Dapper Labs team creates only a limited number of NFTs to ensure scarcity. As a result, the commonly available Moments are cheaper in valuation than the rarer ones. The NBA Top Shot website explains that:

An NFT is a one-of-a-kind, non-fungible, cryptographic token representing a unique digital asset for which there is no copy or substitute. An NFT cannot be substituted for another NFT as each NFT is distinctive and unique in some way. An NFT is not a medium of exchange and is not convertible virtual currency.
Each moment is secured by the blockchain, meaning your Moment is Unique and Licensed by the NBA and NBPA.

Moments come as a part of "Packs," similar to how traditional sports cards come in a bundle. In turn, packs are a part of the so-called "Series," which gets launched concurrently with the NBA season. So, fans can collect new packs of NFT moments that feature the season's best highlights.

In addition, fans can collect Moments from the past depending on their availability. For example, they can get Magic Johnson's dunk from May 16, 1980.

NBA Packs and Moments

Collecting NBA Top Shot Moments is not a straightforward task. Typically, users do not know what Moments they will receive when they go ahead with a purchase, given the availability of each NFT depends on the the kind of set or Pack it comes from.

NBA Top Shot features four types of Moments: Common, Fandom, Rare, and Legendary. There is also a fifth category, called Ultimate, but this Moment is attainable only via auction. Anyway, here's how the other four categories work:

  • Legendary Moments: comprise 0.09% of the total available Moments, which makes them extremely rare and tough to acquire. Naturally, Legendary Moments are more expensive than most of their counterparts.
  • Rare Moments: comprise 1.6% of the total Moments and typically feature historical plays from NBA legends.
  • Fandom Moments: availability is not fixed since Dapper Labs create them based on special experiences associated with specific events. For instance, the firm can make Moments available in real time to only those users who were available in the arena.
  • Common Moments: comprise 95.8% of the total Moments, meaning they are easily available and cheaper than other categorie.
a5abde8e-145b-4fda-99f6-c414e8437b99.pngNBA's Moments categorized based on their rarity. Source: Official Website

Dapper Labs groups the top shot Moments into Packs and presents them as Sets. These Sets come in two distinctive categories: Base and Non-Base. Here's how they work:

  • Base Sets: These packs fall in Common rarity category and are released in order of Series and release, i.e., Series 1 had 12 releases. They contain three basic Moments and are ideal for users who are just starting their NBA Top Shot collection.
  • Non-Base Sets: Unlike Base Sets, Non-Base Sets come in variations and contain at least one Common Moment in addition to a Rare or Legendary Moment. That makes the sets costlier.
500ba4ab-91d9-42aa-ad4a-5166326df4e6.pngIllustration of NBA Top Shot Sets. Source: Official Website

NBA Top Shot Challenges and Quests

Challenges and Quests serve as a parallel avenue from where NBA Top Shot users can receive Moments, but as rewards not sales.

Related: DeFi, NFT, blockchain games: Key takeaways from DappRadar’s 2022 review

For instance, Challenges grant rewards to users who fulfil a given task in a specific timeframe. In detail, NBA Top Shot can launch a challenge with directives to collect a particular number of Moments in specific hours or days. Users who complete the challenge receive a freshly minted Moment.

Similarly, Quests offer rewards to users for finishing tasks, except the tasks are like scavenger hunts, wherein users are told to locate and build an exhibit for Moments with certain characteristics. As a result, Quests appear to be more difficult than Challenges and, therefore, return greater rewards.

A word of caution

The demand for NBA Top Shot exploded in 2021 with its sales volume reaching a pick around $224 million in sales volume from over 80,820 unique buyers in February. By November 2022, the sales volume had declined to about $2 million from some 10,000 unique buyers.

594f4920-d8a6-4d97-a769-dffe8b9c04d4.jpegNBA Top Shot sales volume throughout the history. Source: CryptoSlam

The crash in demand came in line with similar drops across the NFT space with many leading projects, including Bored Ape Yacht Club and CryptoPunks, witnessing lower demand. As a result, some analysts rubbished the NFT market altogether, calling it a bubble.

2022 was the year of killing scams:

NFT bubble burst

Crypto collapsed alongside corps like FTX that were huge Ponzi schemes

Conservative pollsters making up numbers were proven wrong

Trump’s company was found guilty of tax fraud

Investors realized Elon Musk isn’t a genius

— Arlen Parsa (@arlenparsa) December 15, 2022

As a result, venturing into NBA Top Shot space to speculate on its Moments remains a risky proposition and potential collectors should never invest more money than they can afford to lose.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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