651% increase in trading volume in the past week
The digital collectibles from NBA Top Shot keep breaking record after record after they now reached $32.8 million dollars in trading volume in the past 24 hours according to data from DappRadar. It’s a record amount of secondary market trading for any decentralized application on the blockchain.
The trading volume comes from 396 thousand transactions between 35.6 thousand users. These transactions include buying and selling collectibles, but also opening packs and listing items on the marketplace. Overall we’re seeing a lot more activity across the board.
Dapper Labs has been improving its platform in recent weeks to deal with the increase of users. In the past 30 days, the trading volume is over 142 million dollars. This means that 23 percent of all the trading values in the past 30 days happened in the past 24 hours. We’re looking at an increase in the volume of 651% week over week, while the number of active users almost doubled.
What is NBA Top Shot?
The NBA, NBPA, and Dapper Labs teamed up to create NBA Top Shot, a new collectible game running on the Flow blockchain. In NBA Top Shot players collect jaw-dropping plays and unforgettable highlights as digital collectibles that fans and players can own forever.
NBA Top Shot card packs have been selling out in minutes and drawing the attention of influencers and major actors in the crypto space, mainstream media, and also professional athletes in the NBA.
Flow on DappRadar
The Flow blockchain is a newly launched blockchain made by Dapper Labs, the creators of Cryptokitties. DappRadar has integrated the Flow blockchain into its platform, revealing all the relevant information in different content categories. Right now NBA Top Shot is the only dapp on the Flow blockchain, but more projects will be added soon as they are released on Flow.