NBA Top Shot: Secrets Of Sports Marketplace Development With Flow
NBA Top Shot is leading in a new era of digital basketball collectibles through a blockchain-based platform for trading NFTs. It combines the experience of collecting sports cards and blockchain technology.
But why exactly did NBA Top Shot become so popular and is it possible to make a clone of the NBA Top Shot marketplace? Read on and get all the answers from an NFT market development expert.
NBA Top Shot Explained
What’s NBA Top Shot? Let’s cover some basics. NBA Top Shot was created in partnership between the NBA & Dapper Labs ( creators of CryptoKitties). Michael Jordan, Klay Thompson, and Kevin Durrant are High-profile NBA legends investors in the project. NBA Top Shot runs on the Flow blockchain.
According to Forbes as of September 2021, it had more than 1M users
Around $1 billion has been exchanged on NBA Top Shot
And What’s NBA Top Shot NFT marketplace clone?
NBA Top Shot clone is an NFT platform for trading collectibles. It can keep and add many exciting features like challenges, package drops, a marketplace, and more. Our team can personalize it for any sports niche.
Before you start thinking about making an NBA Top Shot NFT marketplace clone you need to get an idea of how it works and what’s competitive advantage of it. The concept of NBA Top Shot is not exactly new, as it was already in the market in the form of sports cards and similar collectibles. But NBA Top Shot took it to a whole new level.
At its core, the NBA Top Shot is a big marketplace, where fans can buy, sell, and trade NFTs called Moments. What’s special about moments?
- It’s a video clip of the game highlight
- Or it might contain any other relevant info like stats about a specific player
- They have 5 tiers (Genesis Ultimate (1 copy), Platinum Ultimate (3 copies), Legendary (25-99 copies), Rare (150-999 copies), Common (1,000+ copies) and the cost may vary from $9 to $1,000+
What Stort Can Be Turned Into NFT Collectibles & Sports Marketplace Like NBA Top Shot?
Each sport has fans’ most liked moments, and making them into collectibles can have a huge benefit. Here are a few things that can be turned into digital collectibles with Flow NFT development.
- Sports Cards. One of the obvious digital collectibles that are quite common on sports-based NFT marketplaces. Ass real-life cards, digital versions are very alluring, making sports fandoms want to have them all.
- Merch. Rare stars’ signed t-shirts, balls, or any other accessories related to the particular sport can be used for NFTs.
- Top Moments. — Each fan has fav moment of the game that he can recall in a blitz, and those special moments of players/teams can be turned into NFT collectibles.
- Souvenirs — Trophies, awards, or similar attributes that would refresh fans’ memories. Each of them could be minted and then sold through listing in the marketplace.
Main Components of the NFT Sports Marketplace
Making NBA Top Shot clone you should consider salient features that will define how it will function. Here are the main components of any NFT Sports marketplace:
- Landing page. It is the basic component that allows users to view what the NFT Sports marketplace has to offer like the available favorite athletes collectibles. You can’t start an NFT marketplace development without it.
- Smart Contracts. Smart contracts are taking buying and selling to the next level. They are self-executing and already have the terms of the arrangement between the customer and vendor written into the code.
- Wallet integration. A marketplace can’t function without the wallet feature. Having a wallet integration will allow users to link their crypto wallets to the marketplace accounts. It’s important for making transactions seamless and more secure.
- Package drop system. It allows the release of the NFT collection or a single NFT to the public for selling or promotion.
- Marketplace. A blockchain engineer creates a place with components like NFT search, search by category, and opportunity to sell and buy NFT.
What blockchain to use in the NBA top shot-like marketplace?
If you are confident in creating an NBA Top Shot clone, you will need blockchain development services, but first it is important to decide which blockchain to use. Here are the main options you have.
This blockchain platform was designed for gaming purposes and has expanded since its launch in 2020. Our specialists in Flow blockchain development emphasize such qualities as supporting fast, low-cost transactions and allowing smart contracts.
It powers blockchain apps including NBA Top Shot, but it also supports transactions on a range of other sports (NFL All Day, UFC Strike, etc). Flow also has a native cryptocurrency that trades under the symbol FLOW.
|SPECIAL FEATURE||Designed specifically for games and consumer apps. Flow separates work done by each miner to increase the efficiency of the network.|
Polygon’s goal is to create an Internet of Things (loT) for the Ethereum blockchain. Polygon aims to scale Ethereum to one billion users without sacrificing decentralization or security and is widely used by NFT developers.
|SPECIAL FEATURE||Allows its token (MATIC) to be staked on the Polygon blockchain, therefore users can gain annual interest|
The rise in the value of Ethereum has made Ether the second-most valuable digital currency after Bitcoin. Ethereum allows smart contracts and provides the underlying architecture and software.
|SPECIAL FEATURE||Allows creation DApps, decentralized applications, and DAOs, decentralized autonomous organizations.|
BSC (Binance Smart Chain)
Binance’s new Smart Chain, BSC, is a blockchain system designed to provide a high-performance infrastructure for decentralized trading, building dApps, and interoperability between other blockchains. It also has its own cryptocurrency BNB and is an example for many who want to create a blockchain.
|SPECIAL FEATURE||Minting, burning, locking/unlocking, or freezing/unfreezing tokens to regulate supply and distribution.|
Step-by-step Guide on How to Create a Sports Marketplace
Here is a step-by-step guide on NBA Top Shop-like Flow NFT development or UFC Strike-like NFT Development.
Step 1. Market Analysis
Starting any business, you should know your market and learn from NFT companies out there. Explore different sports niches rather than going for basketball, as the NBA Top Shot. There is a big untapped fanbase in soccer and hockey that may make you the next leader in the market.
Step 2. Define your sports marketplace type
Make a plan of what specific items and unique collectibles your marketplace will have. You may also want to create a roadmap to develop your sports NFT marketplace. Having a clear plan will help you launch your marketplace as soon as possible.
Step 3. Design magic
No successful web project can do without stellar design. To attract users, a marketplace and collectibles design must be powerful visually, which is impossible without a strong tech background. Also, design, is what attracts the most investors.
Step 4. Develop your sports marketplace
Turn your creative idea into a fully functioning sports NFT marketplace with one of the leading tech companies in Germany. Choose the right tools, techs, and frameworks for technical realization. And if your company is lacking suitable professionals it’s always better to opt for a dedicated team of experts, like OmiSoft, that will do the coding part using a high-end tech stack.
Step 5. Testing & Launch
Before you let your NFT marketplace see the world, it’s important to find and fix all flaws, errors, and bugs. After you can introduce the final product to the market.
The bottom line
Over $1 billion has been already exchanged on NBA Top Shot. Want to be the next hit? To launch sports NFT marketplace or benefit from full-cycle Flow blockchain development at OmiSoft contact us.
Book a free consultation with a price estimate for NBA Top Shot-like marketplace development.Contact Us!
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