Sports Betting News

"Top Shot" NFTs are the brainchild of Vancouver-based Dapper Labs, which are NBA collectibles produced using blockchain technology. The company has just closed a round of funding that has pushed the value of the company to a staggering $2.6 billion.

NFTs (non-fungible tokens) have been making waves in the cryptocurrency blockchain world in recent months, with interest from financial markets and more unexpected sectors such as the art world.

The NFT movement has been backed by a number of famous blockchain enthusiasts, the likes of Elon Musk and his wife Grimes, who sold $6 million worth of artwork. The explosion of NFTs has even drawn the attention of mainstream artists. Damien Hurst is one of the biggest names to crop up from the art world, the British artist released thousands of works via cryptocurrency platform Palm.

The one that grabbed the headlines back in March was the almost $70 million in sales of a single piece of digital artwork by American graphic designer Beeple. The hype surrounding NFTs doesn’t seem to be dying down, with the biggest sale yet from the Top Shot NBA cards being the Los Angeles Lakers star LeBron James collectible card which went for $250,000.