Source | The Verge
Top Shot is playing the long game in the NFT craze
On February 22nd, Jesse Schwarz set an official NBA Top Shot record by buying the most expensive Moment on the platform. The 31-year-old paid $208,000 for a massive LeBron James dunk, in which he leaps over the Sacramento Kings’ Nemanja Bjelica to authoritatively slam the ball through the hoop.
Now, you can go onto YouTube and watch a clip of this dunk. A clip of the Moment is even included in the celebratory NBA Top Shot tweet announcing Schwarz’s acquisition. But you won’t own it.
Top Shot is part of the world of NFTs, or non-fungible tokens, the buzzy new use of blockchain tech that lets people buy and sell digital items by permanently inscribing ownership records. At a high level, you might consider a domain name or an event ticket a non-fungible asset since they’re goods that can’t be exchanged for something identical — and they can’t be divided into parts. This is in contrast to bitcoin, where any bitcoin is the same as another, and it’s even possible to own a fraction of a bitcoin if you so choose.