What Makes A Top Shots Moment Valuable (Part I)
Play Type analysis of NBA Top Shots Moments, the officially licensed NFTs of NBA highlights.
Introduction
NBT Top Shot is the officially licensed NFTs of the NBA providing a chance for the fans to own, sell, and trade digital collectibles of the greatest plays and players of NBA and WNBA called Moment. Moment NFTs are the core parts of NBA Top Shot, capturing some of the best plays from across the NBA. Each Moment contains details including player name, play type, set/series name, serial number/total moments, date, and badges.
In this analysis, the sales of Moment NFTs have been investigated based on their play type. According to the Top Shot marketplace, collectors are able to filter the Moments using 8 different available play types of 3 Pointer, Assist, Block, Dunk, Handle, Jump Shot, Layup, and Steal.
In conclusion, the sales analysis of different play types and play categories of Top Shot Moment NFTs have demonstrated that while the Rim play type has been the dominant one in terms of both the sales metrics and its holdings, the 3 Pointer, Dunk, and Layup categories have registered the highest amount in the majority of metrics simultaneously.
Play Types Analysis
The overall sales analysis of different play types has indicated that Rims have had the highest amount of sales compared to the others. They had a sales volume of over $5.7B with a total share of more than 36%. After that, the 3 Pointer and Assist play types have had the highest amount of sales. Cumulatively, these three play types have accounted for more than two-thirds of the total sales. It is worth mentioning that, the number of buyers for almost all of the play types has been lower compared to the number of sellers which indicates a fewer number of collectors compared to the initial holders of each NFT.
Play Categories Analysis
The overall sales analysis of different play categories has shown that the three categories of 3 Pointer, Dunk, and Layup have been the dominant categories and have accounted for more than 50% of the total sales combined. The individual stats of each of these categories have been close to each other and they almost accounted for a third of that 50% each. Again, the number of buyers has been lower compared to the number of sellers indicating a fewer number of collectors compared to the initial holders of each NFT. The daily sales trend of each play category has the same overall trend as the play types.
The analysis of the top 20 NFT holders has shown a wider range of play categories held by the holders compared to the play types. In other words, fewer holders have accounted for the largest holdings of multiple play categories. The majority of holders have held NFTs with a Dunk or a Layup play category. Among these holders, only three of them have spent massive capital of more than $10K on the purchases of their NFTs, while others have had an average of less than $1K for each category they hold.
The holder analysis of NFTs of each play category has indicated that while the number of holders has been quite similar for almost all of the categories, except for Handles, the 3Pointer, Dunk, and Layup categories have had the highest number of NFT holdings and the highest amount of spent capital on the purchases compared to other categories. On average, the holders of the Layup play category have had 5 NFTs, while holders of Dunk and 3 Pointer have had 4 of them.
A comparison of the most expensive Top Shot Moment NFTs has demonstrated that a 3 Pointer Moment has been sold for more than $15K and named the most expensive NFT in the collection. Besides that, while the Rim play type has accounted for the majority of the most expensive Moments, There have been 3 NFTs with a Dunk category that sold with a high price tag. Layup NFTs have accounted for the majority of the most expensive NFTs among the different play categories.
The daily sales analysis of each play type has also demonstrated the same trend as the overall sales trend. Besides that, it can be seen that the sales of Moment NFTs have had a downward overall trend since May, and although the volume has been in a similar range for the majority of the period, the number of sales and the number of buyers and sellers have decreased substantially.
The analysis of holders of each play type has indicated the same sequence as the sales. However, there has not been a major difference between the number of holders of each play type. On the other hand, the NFT holdings and the capital spent on the purchase of NFTs with a Rim play type have been considerably higher compared to the other play types. On average, each holder has held 6 NFTs with a Rim play type, while other play types have had an average holding of less than 4.
The analysis of the top 20 NFT holders has indicated that while all of them have had NFTs with Rim play type, only the top two holders have also had NFTs with Assist play type, and only the top holder has had NFTs with 3 Pointer play type as well. The analysis of the purchased volume of each one of these holders has demonstrated that only four of them have spent more than $10K to buy these NFTs compared to the others with an average of less than $3K.
Methodology
The required data for this analysis were selected from the dim_topshot_metadata, fact_nft_sales, and fact_prices tables of the core schema of the flow database. There is a specific column on the metadata table for the different play types called play_type. However, the content of the play_category column matches the play types listed on the Top Shot marketplace. As a result, both of these columns were analyzed in this dashboard. For the sales of Moment NFTs, three tokens of DapperUtilityToken, FUSD, and FLOW have been used. Since the price of the Dapper and FUSD token is equal to $1, the price of FLOW tokens was also measured in USD to have a unified sales volume. The buyer column of the nft_sales table was considered as an indication of the holder of the NFT.