Retro NFT packs drive frenzied high Shot speculation

NFTs celebrating important basketball moments from the mid-2000s have well-tried to be an enormous hit among NBA high Shot collectors.

Trade volume for NBA high Shot’s nonfungible tokens has skyrocketed over the weekend following the launch of their retro Run It Back 2005-06 packs on Fri, Oct. 15.

According to Crypto Slam, daily volume on High Shot’s marketplace jumped by over 440% from $829,520 on Oct. fourteen to over $4.5 million consecutive day. Oct. sixteen conjointly saw over $4 million price of tokens trade hands.

Top Shot’s NFTs feature video highlights portraying key moments from the history of basketball, with the most recent packs celebrating the celebrities of the 2005 – 2006 season.

On Oct. 17, NBA high Shot tweeted that almost 10,000 Run It Back packs had been sold-out in twenty four hours at a rate of seven purchases per minute.

The packs started at $169 every, with collectors competing to snag moments portraying basketball legends like LeBron James and Shaquille O’Neal. high Shot’s packs feature 3 tiers of rarity starting from “common” to “legendary.”

Crypto Slam information shows that the NBA high Shot marketplace has hosted a banging $744 million price of secondary sales since Gregorian calendar month 2020. High Shot trade activity peaked throughout the primary quarter of 2021, with a $45.7 million price of trades occurring inside twenty four hours Feb

month. 22.

While over $200 million price of high Shot NFTs modified hands throughout the months of Gregorian calendar month and March, monthly volume has since retraced sharply with around $20 million of trades going down throughout sept. and Oct.

After its weekend surge, high Shot is the third-largest NFT project by daily secondary volume, with over $2.5 million in token mercantilism hands within the last twenty four hours in keeping with Crypto Slam.

Axie Infinity ranks in initial place with $18.6 million price of trades for the past day, whereas CryptoPunks is second with a 24-hour volume of $6.2 million.

In late September month, dashing Labs, the team behind high Shot, proclaimed plans to broaden on the far side of basketball  and launch an NFT platform and marketplace in partnership with the National Football league (NFL). dashing Labs is presently targeting to possess completed its initial NFL drop in the tip of 2021.