NBA Top Shot Has All the Elements of the Future
Tags: Sports Business, NBA, Blockchain Technology, Collectibles, Trading Cards

NBA Top Shot Has All the Elements of the Future

The FUTRSPRT Interview Series: Dapper Labs CEO Roham Gharegozlou & VP of Marketing Caty Tedman Talk Sports, Culture, and Commerce on the Blockchain FUTRSPRT Follow Dec 22, 2020 · 5 min read

NBA Top Shot — Courtesy of Dapper Labs

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By Matt Bowen

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FUTRSPRT Interview Series presents conversations with some of the sharpest minds in sports tech. Leaving no angle of competition or fan experience unscathed FUTRSPRT showcases those creating the future of sports right before our eyes.

So, what is NBA Top Shot?

If Wall Street x House of Highlights hosted a trading card party on the blockchain that mirrors the familiar feel of your local sports memorabilia shop — that’s NBA Top Shot.

The blockchain-based collectibles company is taking sports business into the future by creating a digital destination full of fervent fans. Not only is NBA Top Shot a place for collectors to score officially-licensed NBA moments, but it also serves as a gamified mobile experience and a marketplace. NBA Top Shot is the triple-threat of the next “sports economy.”

To see how NBA Top Shot was built, we must study CryptoKitties, the digital breeding ground for unique 1-of-1 kitties that exists on the blockchain. CryptoKitties was the first blockchain-based gaming venture for Dapper Labs. Since 2018 CryptoKitties has sold more than $40M in sales and has over 100,000 owners. Built on Ethereum, one of the most popular blockchains in existence, Dapper Labs CEO Roham Gharegozlou told FUTRSPRT, “we completely broke Etherium. It’s made to hand lots of money, not lots of people.”

Continuing, Gharegozlou, the ever so confident-yet-calm-and-collected CEO says something that begins to tell the story of the Dapper Labs DNA. “We knew we needed something better so we built Flow.”

Per its website, “Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them.”

Dapper Labs has created the blockchain for the rest of us to have fun. Fans love what fans love and for hoops diehards, NBA Top Shot is an all-encompassing ecosystem. If you’re looking ahead to 2021 and trying to identify trends you may spot a pattern of brands catering to fans by creating a community within its own website. Not just a “community” of fans, but a place where the faithful congregate, converse, and create. A place where they live and breathe. NBA Top Shot has already achieved this and it’ll thrive moving forward because of it.

VP of Marketing Caty Tedman, an industry vet with impressive stints at ESPN, NHL, NFL under her belt joined the company because she saw the future of fandom leading to one place — the blockchain.

“The relationship between fans and the things they love is going to change in the future. For me it’s blockchain. It has the potential to be adoptable by fans, teams, players, and leagues.”

Caty Tedman(L) & Roham Gharegozlou(R) — Courtesy of Dapper Labs

Looking into the deeper layers of this newfound infusion of sports, culture, and collectibles Tedman states, “Digital collectibles creates a relationship between the fan and the “sports economy.”

On the topic, Gharegozlou says, “people are looking to build on Flow. Every meaningful community will have a crypto-economy soon.” This statement teeters between prophetic and obvious. In five years we’ll look back at this and say to ourselves, “it was so obvious, Dapper Labs was simply prophetic.”

Regarding the customer curve, Tedman tells FUTRSPRT, “the learning curve hasn’t been that steep. The digital format allows for in-game experience and play. We offer a whole package of data, heroic imagery, and different camera angles.” NBA Top Shot is teaching old-school trading card buffs new tricks, a good sign for its future.

In fact, tipping off in accordance with the 2020–21 NBA season NBA Top Shot will turn the focus of its fans to its mobile game, which will allow for collections of cards to “level-up” players. Don’t think this experience will knock your socks off? Think again, Samsung recently named NBA Top Shot the best innovative app of 2020 in their 2020 Best of Galaxy Awards.

NBA Top Shot is the real deal.

Tedman continues, “a blockchain collectible is like a jersey hanging in my closet.”

“The right way to think about it is that it’s a trading card. You own the collectible, but not the IP. Buy a pack, open nostalgia”, Gharegozlou remarks. “Click on the cards, two clicks shows you the current market value. These are real assets with real money”, he says.

Speaking of real money, Dapper Labs has some serious investors behind it. From Andreessen Horowitz to Google Ventures, Samsung, and Venrock to NBA players like Spencer Dinwiddie and Aaron Gordan, that roster is sick.

Within NBA Top Shot the action couldn’t be hotter. Here’s a look at its most-popular transactions:

Courtesy of Dapper Labs

Thanks to its basis in blockchain, these moments are also scarce. Looking at the going rate for its top earners, NBA Top Shot is undoubtedly making its mark amongst collectors and creators. The Lebron James #35 recently sold for $6,500 and is currently listed at $7,300.

Take it from NBA player Tyler Herro himself, “NBA Top Shot is a really cool and unique way for fans to get in on the action in the league. I’m part of the digital generation, so having the opportunity to collect, buy, and sell great moments virtually gives fans more access to the game than ever before.”

Courtesy of Dapper Labs

Herro’s quote speaks volumes to the potential of NBA Top Shot. It knows no boundaries and speaks the language of the fan.

When asked what NBA Top Shot will be known for in three years the two trailblazing leaders summed it up perfectly.

“Change the way fans become fans.” — Tedman.

“Re-shaping the way sports fans engage w/ each other.” — Gharegozlou

It’s not just a modern-day trading card. It’s not just a marketplace. It’s not just another blockchain fad. NBA Top Shot is the sports community of the future. The fun thing is, the future is currently live.

Looking for a last-minute gift this holiday season for a beloved sports fan? NBA Top Shot is the perfect stat-sheet-stocking-stuffer.