Vancouver-based corporate NBA Top Shot receives primary help from investors such as basketball legend Michael Jordan and other star athletes.
Dapper Labs receives more than $305 million in funding from Jordan and NBA stars Kevin Durant, Kyle Lowry and Klay Thompson.
Dozens of other NFL players and Hollywood celebrities are also part of the company, which says it will use the money injection to diversify into other sports and entertainment products.
NBA Top Shot is a platshape that allows users to buy, sell and industrialize their outstanding NBA favorites in the form of virtual tokens. The cryptocurrency generation blockchain is used to allow the creation of permanent asset certificates that can be copied or deleted.
Fans can purchase card packages in the Top Shot that can charge as little as $9. More expensive packages with more and fewer cards can charge up to $1,000.
A reflector from a LeBron James dump recently US$210,000.
Non-collectors may wonder why they would pay for a sporting event that can be seen loose online.
Aaron Perzanowski, a law professor at Case Western Reserve University and co-author of The End of Ownership, said the NFT frenzy was partly a reaction to consumers’ genuine preference for claiming a sense of belonging in a virtual and intangible environment.
“Certainly, at this time, this preference is expressed through a probably frivolous and exploitative trend that, for most of us, is irrational,” Perzanowski said.
Toronto-generation entrepreneur Sheetal Jaitly said NBA Top Shot is a fashion edition of sports collectibles.
“If you’ve ever collected hockey or baseball cards, get them right away,” he told Global News this month.
“For other people who have never discovered the price in those things, they won’t. In the global world of NFT, you have a piece of history, essentially. “
Jaitly said he had spent about $500 on the NBA’s best hits, which surpassed “more than 1,100%. “
– With by Anne Gaviola, Canadian Press and Associated Press