• Top investor makes $140,180 off £10 investment
• NFT’s rival Air Jordan’s and signed jerseys in terms of profitability
• $230 million worth of NFTs trades via NBA Top Shot
Investors in NBA merchandise could be eyeing basketball’s greatest moments rather than signed Air Jordans, as NBA Top Shot reveals $230m trades in digital collectables since launch.
As the playoffs start up, NBA NFTs (non-fungible tokens) depicting some of basketball’s greatest moments, like LeBron James’ two-handed reverse windmill against Charlotte last year, have rocketed in value. That example alone fetched a scorching $210,000, while Fred VanVleet’s pull up triple straight off the dribble sold for over $140,000 after just a $10 investment.
Research collated by daily fantasy sports brand DraftKings has found that these digital assets are insanely profitable, rivalling the most coveted NBA merch items with owners often making a markup of over 1000% on their original purchase.
NFT’s are crypto collectables, and in the case of NBA merch, take the shape of digital moments which showcase basketball highlights. They are each tied to a blockchain which makes them unique and authentic. Digital packs for the game can sell for as little as $9, however, they sell out instantly.
Buying NBA jerseys, t-shirts and headwear has always been a part of the fan experience, digital assets such as NFT’s are quickly becoming a hot commodity. The most profitable NBA trainers, original Air Jordan’s I’s were worth $65 in April 1985 and today the average sale price is $11, 830. It has taken 36 years for the value to increase by 18,100%. Compared to a profit of 17,414.6% in under a year, NFTs are the place to invest for quick wins.
As of February 2021, a massive $230 million had been bought and traded via NBA Top Shot, the official NFT provider of the NBA, and these numbers look set to increase as digital assets become more mainstream. – this looks set to be the future of basketball memorabilia.
Big investment wins on NBA NFT’s
Player Date first bought Price bought Price sold Percentage increase in price:
From the Top (Series 1)
Sept 2020 $1,199 $210,000 17414.6%
Base Set (Series 2)
April 2021 $10 $140,190 1401800%
Holo MMXX (Series 1)
Jan 2020 $7000 $115,000 1542.86%
So how does this compare to traditional merchandise such as signed jerseys and sneakers? Well, there is still money to be made in this arena too! The original Air Jordan has increased in value by 18100% since it’s original retail price of $65 back in 1985. As for signed jerseys, a Kobe Bryant signature can add more than 9000% to an LA Lakers top, proving that there is still big money in more traditional types of merchandise.
According to DraftKings, this research offers a fascinating insight into the future of merchandise and how digital assets could soon become the most sought-after collectables out there.
One thing seems certain, you need strong knowledge of NBA history and a keen eye for up-and-coming basketball stars to create the biggest return on memorabilia. Top Shot NFT’s, for example, offer the opportunity for anyone to invest in jaw-dropping moments and make a huge return in a short period of time.