Top Shot – Years ago, few people were unaware of non-fungible tokens, yet they are currently one of the main forces driving the Web3 sector.
NFTs didn’t start gaining popularity until thousands of new projects appeared in 2021.
The NBA Top Shot initiative, which made a ton of money, was among the most well-liked.
The NFT project wasn’t created by a studio of its own.
Instead, Top Shot, an NBA-officially licensed project, was used, and it has sold more than $1 billion.
With recent news that Top Shot would be available on mobile devices, the project is now poised to maintain its success.
The news
NBA Top Shot will soon release mobile applications on Google’s Android Play Store and Apple’s iOS App Store.
Users of Top Shot will discover that the applications offer a more streamlined method to access, purchase, and exchange digital treasures right from their fingertips.
Dapper Labs will be looking forward to the launch as the beginning of their transition to a mobile-first Web3 firm.
NBA Top Shot and the following are works of Dapper Labs:
- The Flow blockchain
- The NFL All Day NFT project
- The UFC Strike NFT project
The app
The Senior VP of Sports Partnerships at Dapper Labs, Jennifer van Dijk, is upbeat about the Top Shot app’s future.
“The NBA Top Shot app will really be the start of our move to be a mobile-first company,” said van Dijk.
She also anticipates that the switch in platform would enable Dapper to advance the field of mobile in Web3 and continue their mission of attracting users to the platform.
The Top Shot app will soon be available in a limited version from Dapper Labs.
Users will be able to accomplish the following in the early stages:
- View their NBA Top Shot NFT collection
- Observe platform activity
- Receive drop notifications
- Purchase a starter pack of NFT moments
Long-term, further features will be added to the app to fully realize its potential.
Restrictions
Although it is a new practice, purchasing NFTs using mobile applications is not a novel idea.
Because Apple and Google anticipated taking a part of the sales, Web3 firms and NFT marketplaces had to limit the use of mobile applications for the exchange of NFT assets.
The barrier raises the cost of primary sales for mobile users and makes it more difficult for consumers to make secondary market transactions.
For instance, Apple’s 30% charge presents a challenge that Web3 startups have been trying to overcome since the firm made it known what it thought about NFT sales and usage.
Van Dijk claims that Dapper is aware of the issue as it builds and grows the Top Shot app.
Read also: Chainspace creates NFT portals connecting Bitcoin and Ethereum
Fee considerations
The business is also collaborating with its partners in sports leagues, Apple, and Google to forge a brighter future.
The pricing displayed when consumers buy an NBA Top Shot beginning pack through one of the mobile applications will take Dapper’s fees into account.
“When we present a price, that will include everything that would be taken out or managed by us on the back end, and the consumer will have that price,” said van Dijk.
“We’re committed also to keeping prices reasonable for fans and making them accessible.”
A sold-out release of 100,000 Top Shot starting packs was emphasized by Jennifer van Dijk in light of LeBron James’ astounding all-time scoring record achievement last week.
The online interface sells the packs for $9 apiece.
“We’re going to continue in that trend, as well, on the starter packs,” she said.
“Maybe not $9 exactly, but reasonable and affordable.”
Mobile migrations
Top Shot wants to facilitate peer-to-peer marketplace trading among users through the mobile migration, despite in-app transaction fees from Apple and Google.
Apple and Google are interested in examining the market with the appropriate partners and experiences, claims van Dijk.
She said that the NBA Top Shot initiative anticipates that the mobile app will account for over 75% of traffic.
Nevertheless, using mobile browsers to purchase and manage NFTs might be difficult.
Challenges
Dapper Labs was one of the leading innovators during the 2021 NFT boom, but it has since experienced difficulties, particularly as NFT sales have been declining.
Due to the weak NFT and cryptocurrency markets in November 2022, the company let go of more than 22% of its workers.
The move into mobile opens them a new avenue for them as they struggle to keep up with the rapidly evolving Web3 market.
According to Jennifer van Dijk, Dapper hopes that the business will unite and eventually determine its course of action.
“There’s no easy answers,” she added.
“But I think that is also the ability for us to be good partners together, and come to those things together – instead of in any way trying to go around the rules or things like that.”
“[We’ll] change together, evolve together, and I think we’ll get to a pretty good place.”
Image source: Hoops Hype
