NBA Top Shot has cooled off.
Long-term, that may not be a bad thing for the non-fungible token (NFT) company whose explosion in popularity earlier this year helped usher concepts such as NFTs, blockchain, and cryptocurrency further into mainstream culture.
Launched in its ongoing public beta testing phase in October by Vancouver-based Dapper Labs, NBA Top Shot began garnering attention in January when users bought and resold $40.5 million worth of the league-licensed digital video highlight clips that are serialized in limited editions like trading cards.
Then it went into overdrive: February sales hit $231.6 million, per figures provided by the company. March sales were $230.4 million but in April they dropped to $92.5 million. The first seven days of May brought $12.3 million in purchases and resales on the site’s secondary market per NFT collectible sales tracking site
