The rise of NFT (Non-Fungible Tokens) among digital marketplace is inevitable; every business domain is adopting this blockchain technology and is confident to raise exceptional ROI and profit. Various new marketplaces are enhanced with the sole purpose of trading NFTs and building them their major source of earnings. Under these situations, the sports industry has kick-started its crypto campaign with the guidance of Non-Fungible Tokens(NFT). The most recognizable sports league that has to grab this technology & grossed more than $50 million dollars in the NBA (National Basketball Association). This league entered the virtual space with great drive, launching its own marketplace, the NBA Top Shot.
NBA Top Shot is a unique NFT marketplace that trades digital products that are under the domain of the NBA. This marketplace is built on a blockchain network called Flow. This blockchain allows this marketplace to transact many transactions at high speed and consume less time comparatively. This marketplace trades NFT sports products like short video clips of breathtaking NBA moments, memorabilia, and NBA trading cards.
The popularity of the NBA Top Shot rose to great heights because of its special ability to link all digital products to its respective NBA players; every credit belongs to the power of NFTs. The NBA league is the core factor in the popularity of this NFT marketplace. The NBA league is popular worldwide and the release of their official digital products, just made the fans abruptly get involved in this domain and raise the bar for fame.
Therefore, developing an NBA Top Shot like NFT marketplace development is an essential way of creating top-tier business ventures in a short period of time. This way businesses that use this platform are expected to gain enormous revenue and profit.