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NBA Top ShotUNVERIFIED PLATFORM
UNVERIFIED PLATFORM
NBA Top Shot
A new era in fandom has arrived. Own basketball's greatest Moments with NBA Top Shot. NBA Top Shot is a blockchain-based platform that allows fans to buy, sell, and trade numbered versions of specific, officially-licensed video highlights.
UNVERIFIED PLATFORM
Highlights
0 - 1,000%
Asset Class Return•1Y
#8 Rank
In NFTs•30d
Invest from
$1
Overview
High flying dunks. No look dimes. Game saving blocks. The level of drama and skill in NBA basketball is simply unmatched in the sports world. Now you can own a piece of that action. The NBA, NBPA, and Dapper Labs have teamed up to create NBA Top Shot, a revolutionary new game in which jaw-dropping plays and unforgettable highlights become collectibles in the form of non-fungible tokens (NFT) that you can own forever. Top Shots are the first of their kind NBA digital collectibles. For the first time, NBA fans can participate in the digital economy of basketball, buying, selling, and trading Moments, while showcasing the authenticity and depth of their fandom.
Things to Know
You make money on
Value
Fees
0%
Min Investment
$1
Payout frequency
Asset sold
Term of investment
Zero
Target Return
Varied
Liquidity
Moderate
Open to
All Investors
Mobile Application
No
Top Perks
Own shares of exclusive basketball highlights
New age trading cards, crypto principles applied
Make purchases using crypto or card
Other ways to invest in NFTs
How you make money
You are able to earn a return through the potential increased value of the cards you buy. You have the ability to buy any card you want in the marketplace in hopes of future appreciation. Although not always true, the value of a card typically rises or falls with the performance of the specific player. You are also able to buy packs and hope to luckily draw a high valued card.
How NBA Top Shot makes money
NBA Top Shot is revolutionizing the collectible world, but still brings the nostalgic touch of opening packs. They generate most of their revenue through the packs that they sell. There is also a 5% card transaction fee as well as a flat fee for purchases made using cryptocurrency.
Is it safe?
NBA Top Shot was established in 2019 and has already seen more than 70 million dollars in sales. Unlike forms of cryptocurrency, like Bitcoin, which are readily exchangeable, each NBA Top Shot collectible is a non-fungible token (NFT), which means the value isn’t in the token, it’s what comes with it. NFT’s can only have one owner and they cannot be copied. Top Shot collectibles are minted according to a set of rules encoded onto the Flow blockchain in something called a "smart contract," and can only be created within the limitations enforced by that smart contract. All collectibles are licensed by the NBA and NBPA and once created are able to live forever on the Flow network.
Established
2019
Country Available
Worldwide
Assets Managed
n/a
How you’re taxed
Capital Gains
Income Tax
There are two tax considerations to be had when purchasing NFTs:
Buying an NFT using Crypto
When The IRS states that “if you exchange virtual currency held as a capital asset for other property, including for goods or for another virtual currency, you will recognize a capital gain or loss.”
For example - if you purchased a unit of ether for $100 in 2018, it would now be worth around $1,700. If you used that ether unit to buy a $1,700 NFT, you would have to pay tax on the gain of $1,600 as part of the NFT purchase. You would owe the IRS — assuming a top capital gains rate of 20% — a tax of $320. You’re not spending currency, you’re spending an appreciated asset.
Selling an NFT for profit.
Profits earned from the sale of NFTs, the same as crypto, are taxed like stocks (short and long term capital gains). Whenever you sell an NFT, you incur a capital gain or loss. For example, if you bought an NFT for $10,000 of ETH (this is your cost-basis) and then sold it for $15,000 of ETH, you would incur a taxable capital gain of $5,000.
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