NBA Top Shot is a digital collectibles platform and marketplace, created by Canadian startup Dapper Labs. It uses the non-fungible token standard ERC-721 to create digital collectibles called “Moments”, which are basically highlight reel clips of NBA players in action, on the blockchain.
These Moments can be bought, sold, or traded on the NBA Top Shot website or marketplace.
So does NBA Top Shot use Ethereum? Yes, the platform runs on the Ethereum blockchain and makes use of ERC-721 tokens. This means that all of the Moments are stored on the Ethereum blockchain, and each one is a unique, immutable, and scarce digital asset.
NOTE: WARNING: NBA Top Shot does not currently use Ethereum. It is a non-fungible token (NFT) platform that is powered by the Flow blockchain, which is owned by Dapper Labs. Do not send any Ethereum to NBA Top Shot or any of its associated accounts. Doing so may result in the loss of your funds.
This also makes NBA Top Shot a decentralized platform, as it is not controlled by any central authority.
The use of blockchain technology and non-fungible tokens brings a number of benefits to NBA Top Shot. Firstly, it ensures that all Moments are authentic and cannot be counterfeit.
Secondly, it gives collectors full ownership and control over their Moments. And finally, it enables a secondary market for Moments to exist, where they can be bought, sold, or traded peer-to-peer without the need for a central authority.
Overall, NBA Top Shot is a great example of how blockchain technology can be used to create new and innovative applications. The use of Ethereum and ERC-721 tokens has allowed Dapper Labs to build a platform that is secure, decentralized, and provides a great user experience for collectors of digital collectibles.
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In recent years, cryptocurrency and blockchain technology have become increasingly popular. As a result, a growing number of businesses are beginning to explore the use of this technology. One such business is Top Shot, a digital collectibles platform that allows users to purchase, trade, and sell virtual basketball collectibles.
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