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17 يونيو 2021 - 1:29 ص

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التعليقات على NBA Top Shot, the league’s foray into the non-fungible token (NFT) market, comes with a disclaimer that’s commonly seen in psychic hotline advertisements. ‘Purchases of NFTs are strictly for entertainment purposes,’ reads the 37,000-word terms of service agreement from NBA-partner Dapper Labs, the platform’s creator. So, like a mediocre clairvoyant, the NBA and Dapper Labs are not responsible for any Top Shot misfortune. After all, users acknowledge that the NFTs — in this case, collections of digitized NBA highlights — ‘have no intrinsic value.’ That an NFT is inherently worthless isn’t exactly a surprise. The digital tokens are just a unit of data, stored on an electronic ledger known as a blockchain that can only be altered publicly, in theory, preventing fraud.  Unlike bitcoin, or other fungible cryptocurrencies, NFTs are unique, which is why they’ve become popular as rare collectibles — anything from JPEGs of priceless art (one tokenized collection sold at auction for a record $69 million) to a soundbite of a flatulent artist passing gas (this is true, and it sold for $85). Several LeBron James moments have sold on NBA Top Shot for over $200,000. This buyer is asking $250,000 for a tokenized highlight of the Lakers superstar. Keep in mind, collectors are not buying the media rights to these clips  But while Dapper Labs’ fine print specifies that its tokens are ‘not for investment or speculative purposes,’ the market for NBA Top Shot ‘moments,’ as they are called, is telling a different story. The league has already recorded $500 million in sales on NBA Top Shot, which mints and sells limited tokens to collectors.  There is also a peer-to-peer exchange known as Top Shot Marketplace where fans can buy and sell moments between themselves. Several tokenized LeBron James highlights have sold for more than $200,000.  Keep in mind, buyers will never actually own the media rights to these moments (see: ‘no intrinsic value’), but that fact doesn’t seem to be discouraging Top Shot customers, who have grown from 4,796 in number to over 460,000 so far this year. ‘This marketplace is really a place for speculation and gambling,’ John Reed Stark, a former chief at the Security and Exchange Commission’s Office of Internet Enforcement, told DailyMail.com. The problem, as Stark sees it, is that NBA Top Shot is effectively an unregulated financial market. That not only creates the opportunity for financial fraud, such as money laundering or other schemes, but it denies sorely needed protections to customers, like the scores of frustrated collectors who are now struggling to withdraw their money from NBA Top Shot. ‘It’s so unregulated you can’t even get your money out,’ said Stark, a self-described NBA fanatic and Top Shot collector. ‘It’s a whole big smokescreen. It’s a shock that the NBA is so engaged in this.’ The league has already recorded $500 million in sales on NBA Top Shot, which mints and sells limited tokens to collectors. There is also a peer-to-peer exchange known as Top Shot Marketplace where several tokenized LeBron James highlights have sold for more than $200,000. Keep in mind, buyers will never actually own the media rights to these moments (see: ‘no intrinsic value’), but that fact doesn’t seem to be discouraging Top Shot customers, who have grown from 4,796 in number to over 460,000 so far this year Collectors generally get about eight hours warning before new packs drop, but demand is currently so high that they’re usually snatched up quickly, like prized concert passes on Ticketmaster NBA Top Shot was launched in July of 2019 following the rise and fall of Dapper Labs’ highly publicized blockchain game, CryptoKitties, in which users could buy, sell, and even breed tokenized felines. (CryptoKitties’ popularity soared in 2017, with one digital cat selling for $164,000, but the blockchain network, Etherhium, proved costly and struggled to keep up with demand. Prices eventually plummeted in 2018) At the time of the Top Shot launch, Dapper Labs chief executive officer Roham Gharegozlou described the concept as a ‘revolutionary new experience in which jaw-dropping plays and unforgettable highlights become collectibles that you can own forever.’ The process isn’t a major departure from sports trading cards, only instead of a still picture printed a rectangular piece of cardboard, Top Shot collectors own a tokenized version of an NBA highlight that is authenticated on Dapper Labs’ blockchain network, Flow. RELATED ARTICLES Previous 1 Next Tom Brady launches his own NFT platform, Autograph, where… JP Morgan, Goldman Sachs … Mickey Mantle? Sports trading… ‘Ultra-rare’ LeBron James rookie card sells for NBA-record… مغلقة