Try Quests to earn FLOW[FLOW] What makes a Top Shots moment valuable?
Outline
NBA Top Shot allows users to buy, sell, and collect NBA NFTs that showcase influential “Moments” minted on the FLOW blockchain. In this report, we are taking a look at the Top Shot NFTs, specifically the PLAY_TYPE column. There are 9 unique PLAY_TYPES for the Top Shot NFTs, namely: Rim, 2 Pointer, 3 Pointer, Assist, Block, Mid-Range, Steal, Handles and Dunk/Layup.
We first analyze the distribution of moments, based on their PLAY_TYPES, then we look at the problem from a transactional point of view, meaning, we analyze the number of transactions per PLAY_TYPE, their average price and their volume of sales. In the final section, we also find out the most expensive moment ever sold along with its PLAY_TYPE.
Note
- We have found that only 6 sales where executed using FLOW’s native token, and almost all transactions (315,468) used DapperUtilityCoin which is an stable coin pegged to USD. So, we decided to drop the transactions that used Flow as a medium of transfer.
Distribution of NFTs based on `PLAY_TYPE`:
First things first, lets look at the distribution of NFTs, based on their PLAY_TYPEs.
Our observations:
- We can see that Rim, 3 Pointer and Assist are the top 3 PLAY_TYPEs, with most number of NFTs, that if combined are responsible for 68.1% of the total NFTs.
- 2 Pointer, Dunk/Layup and Handles are the top 3 most rare PLAY_TYPEs. In the next section, we will analyze whether PLAY_TYPE rarity affect the price of an NFT.
Here We Go!
Now, we want to analyze 3 key statistics: average price of an NFT, number of sales, and the total volume of sales, all if given PLAY_TYPEs.
The following figures shows, these three statistics.
Our observations:
- The top 4 most expensive PLAY_TYPEs are Dunk/Layup, 2 Pointer, 3 Pointer and Handles. Of these 4, 3 are the most rare NFTs, as discussed in the previous section. On the other hand, the top 4 the least expensive PLAY_TYPEs are Steal, Mid-Range, Rim and Assist, which 2 of them are among the top 3 most common NFTs. This means that rarity of an NFT’s PLAY_TYPE can influence its price.
- The number of sales, has a 1:1 relation with PLAY_TYPEs rarity, meaning the more rare a PLAY_TYPE, the lower its number of transactions. For example, Rim, which the most common PLAY_TYPE, had the most number of transactions and 2 Pointer, the most rare PLAY_TYPE, had the least number transactions, only 9.
- The total volume of sales per PLAY_TYPE, same as the previous point, has a 1:1 relation with rarity and the number of sales. We can see the Rim, with the most number of NFTs, and the most number of transactions, was able to generate the most volume of sales, about 3,000,000 USD. Same goes for the rest of the PLAY_TYPEs.
The Most Expensive
The most expensive Top Shot’s NFT PLAY_TYPE is a 3 Pinter by Steph Curry. It was sold for 15,380 USD. Here is the description for that moment:
Rings and accolades fill the record books but legacies live forever. Trailing in the NBA Finals and facing an inflection point in his own career, Golden State Warriors superstar Steph Curry etches his name deeper into basketball history with an instant classic Game 4 performance. Unrelenting in his effort to stave off a two-game deficit and reclaim home-court advantage on enemy soil, the 34-year-old icon works a fourth-quarter give-and-go with teammate Draymond Green, stepping into his seventh three of the ball game to give his club desperately needed breathing room in the final two minutes of a three-point affair. Curry’s triple - three of the 43 insurmountable points he dropped on a Boston Celtics team hellbent on hanging on to their series lead - was a symbolic death blow in the June 10, 2022 contest, a punctuation point on a legacy-defining statement game.
Conclusions
In this report, we analyzed the PLAY_TYPEs of the Top Shot NFTs and found out that:
- There are 9 different PLAY_TYPEs with different rarities.
- Rarity of a PLAY_TYPE has a direct effect on the price of an NFT.
- Most common PLAY_TYPEs are responsible for the most transactions and conversely bring in the most volume of sales.