Sotheby’s auctions NBA Top Shot NFTs
Auction house Sotheby’s is selling non-fungible tokens (NFTs) from the National Basketball League (NBA) Top Shot collection.
Sotheby’s will put eight NBA Top Shot NFTs under the hammer amid a general NBA memorabilia sale event, according to their website. The NFTs in question are valued between $500 and $3,000 each, with bidding opening on Jan. 21. A Sotheby’s announcement reads:
“During 2024-2025 NBA season, the NBA and Sotheby’s will host a variety of auctions that feature your favorite player jerseys. […] NBA Auctions bidders will be invited to exclusive events at Sotheby’s throughout the coming years, including live auctions held at Sotheby’s following the NBA All-Star Game and the NBA Finals.”
The detailsThe collectibles being sold depict several well-known players, including Bub Carrington, Pacôme Dadiet, Jaylen Wells and Kyshawn George. Each NFT includes a clip highlighting a moment from the depicted player’s first-ever NBA game.
NBA Top Shot is the digital version of traditional sports trading cards. The cards can be acquired on Top Shot, an NFT marketplace where fans can buy, sell, and trade NBA moments. They are packaged video clips of game and player highlights that are ‘minted’ in limited runs and operate like trading cards.
Non-fungible tokens are tokens much like many digital assets. What sets them apart is they are not fungible, which means that you cannot consider multiple NFTs as interchangeable because each one has its own ID and is a separate asset. This is different from most digital assets where each Bitcoin (BTC) can be considered the same as any other.
NFTs are seeing increasing adoption. Social media giant Reddit launched its own, and very recently instant messaging behemoth Telegram did the same. NFTs are also easily created with no programming knowledge. If you’d like to try your hand at creating your own NFT collection check out our handy guide on how to do just that.
The post Sotheby’s auctions NBA Top Shot NFTs appeared first on ReadWrite.