NFTs and NBA Conference Finals

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Dapper Labs has launched one of the most popular NFT gaming collections ever named CryptoKitties, which choked the Ethereum blockchain. There is no need to describe what happens when Ethereum’s blockchain chokes, gas prices rise to unreachable heights, and access to the blockchain becomes uneconomical for regular users. 
Flow Blockchain was launched by Dapper Labs in response to Ethereum’s high gas fees and low transaction capabilities. Flow is a fast, decentralized, and developer-friendly blockchain designed for high transaction throughput for gaming networks, digital assets, and mobile apps that require millions of transactions. 
Flow’s blockchain architecture follows a totally different route than Ethereum, with a multi-role architecture built on top of a unique architecture that handles scalability without sharding. 

source: onflow.com

NBA Top Shot is an innovative blockchain-based virtual trading card platform that has been developed as a result of a collaboration between the NBA Players Association, and Dapper Labs. Essentially, the virtual trading card platform is an NFT collection developed on top of a blockchain platform called FLOW. 

Let us examine the trading volume of NBA Top Shot during the recent conference finals with an intention to see if there is a spike in trading volume before, during or after the finals. The following chart shows the transaction volume of NBA Top Shots before, during and after the finals. As you see in the chart below there were couple of days (one before the finals and one after the finals) that stands out.

The following pie charts shows the sales volume as well as sales transactions. Both sale volume & transactions was a bit higher leading to the finals compared to during finals as well as after finals.

Was there any specific team’s NFTs seen higher trading volume during the finals? The following chart shows the trading volume of top 4 teams along with rest of the teams combined together. As you notice in chart below, there was a increase in trading volume for Dallas Mavericks on May 25th 2022. Also close the end of finals, we see a lot interest in NFTs from “Other teams”

Observations

In summary here are the observations from exploring data available on flipside crypto data warehouse

  1. The highest volume of sales transactions as well as sales volume was observed the days leading to the finals
  2. During finals Dallas Mavericks NFTs had a significant sale volume on May 25th

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