- Since NBA Top Shot launched in closed beta in September 2020, the average sale price of just over $14 is the lowest for any month.
- Just under $2.7 million in secondary market sales were generated by NBA Top Shot in October, which is a 43% decrease from almost $4.7 million in trades in September. Top Shot’s trade volume has decreased for four months running.
- The number of Top Shot NFTs exchanged in October—close to 189,000—was the lowest since December 2020 and involved less than 13,500 different secondary market buyers.
Beginning in 2021, NBA Top Shot saw a boom in appeal as NFTs became more widely accepted thanks to Dapper Labs’ digital collectibles platform. The sales momentum has since slowed down because the enthusiasm was just fleeting. The platform’s monthly sales fell to a level that was below two years ago in October.
The commencement of the new NBA season coincided with the steady drop of NBA Top Shot last month, which may have helped to spark increased interest in and enthusiasm for NFT memorabilia. In October of last year, right before the NBA season began, Top Shot sales peaked. This year, events have taken a different course.
Since its 2020 debut, NBA Top Shot has produced more than $1.03 billion in secondary market transactions. Of that amount, just about $207 million came in 2022. On secondary NFT sales made through its market, Dapper Labs charges a 5% fee. These numbers don’t reflect the platform’s initial sales of NFT packs.