In a groundbreaking moment for the NFT industry, a digital collectible featuring Milwaukee Bucks’ power forward Giannis Antetokounmpo has sold for an unprecedented $187,000. The NFT sold for 113.9 ETH in a record-breaking auction on the Sorare NBA platform, surpassing the previous peak NFT sale of Anthony Davis by over $62,000.
Sorare NBA, which started in October and has a total trade volume of more than $545 million, is part of a growing trend of athletes using NFTs to connect with fans and make money from their personal brands. While the Giannis Antetokounmpo NFT sale pales in comparison to the athlete’s physical trading card record of over $1.8 million for an autographed rookie card, it’s still a significant achievement for the Sorare NBA.
🚨 24 hours left to bid on Giannis’ Unique (1/1) Card! 🚨
Time is running out. Get to the Marketplace NOW! ➡️ https://t.co/ub9pAX7cLu pic.twitter.com/2IUPAzblKw
— SorareNBA (@SorareNBA) February 4, 2023
The Rise of NFTs: NBA Top Shot and Sorare Breaking Records
Giannis Antetokounmpo, known for his MVP awards and dynamic playing style, has proven to be not only a dominant force on the court but also a fan favorite around the world. The recent sale of his NFT shows not only how popular he is but also how NFTs are becoming more popular in the sports and collectibles worlds.
Over the past few years, platforms like NBA Top Shot and Sorare have brought NFT technology to the forefront, offering fans unique and one-of-a-kind video highlights of their favorite players. The NBA Top Shot video collectibles platform from Dapper Labs, which runs on the Flow blockchain, has become the go-to platform for basketball fans, with over $1 billion in sales on the secondary market.
Sorare, which started as a fantasy football game using NFTs, has since expanded into other major sports leagues, including the NBA and MLB. With its partnership with the NBA in October 2022, their success highlights the growing popularity and potential of NFTs, and it will be interesting to see how the market continues to evolve and reach new heights in the coming years.
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