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People have spent more than $230 million buying and trading NFTs of NBA highlights

People have spent more than $230 million buying and trading NFTs of NBA highlights



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8 Comments

  1. I still don’t get it (it being NFTs of a video/music).

    Is there only one copy (or a limited number of copies) of the video? How is it enforced (the copy protection)? Where lies the inherent value (apart from enjoying in the video) in it?

  2. It’s a hard concept to understand the value but remember, people still buy/sell trading cards to this day.

    Video is a bit different because well, YouTube. I guess people just want to own ‘the moment’ . It’s no different from buying items in video games

  3. tldr; NBA Top Shot is a crypto-collectible consumers can purchase as a non-fungible token (NFT). Each NFT is tied to a blockchain, a digital ledger similar to the blockchains used for digital currencies like bitcoin. The NBA licenses the reels to Dapper Laps, which digitizes the footage to create scarcity.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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