NBA Topshot NFT sales hit six-month high as 2024 season tips off

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The Block2024/10/28 16:00

By:The Block

Quick Take As of the week ending Oct. 27, weekly sales have reached 43,600 NFTs. The following is an excerpt from The Block’s Data and Insights newsletter.

NBA Topshot NFT sales hit six-month high as 2024 season tips off image 0

The Boston Celtics and New York Knicks tipped off the 2024-2025 NBA season on Tuesday, Oct. 22, and helped propel NBA Topshot NFT sales to their highest weekly levels since before last season's NBA playoffs began.

As of the week ending Oct. 27, weekly sales have reached 43,600 NFTs, marking a significant resurgence in activity after a period of stagnation. This represents a 94% increase compared to the previous week’s total.

Early 2024 saw relatively steady levels of activity, with weekly NBA Topshot sales averaging around 43,000 NFTs in the months leading up to the playoffs. However, activity sharply declined during and after the playoffs. Weekly sales averaged just 26,000 NFTs in this period, reflecting a decrease in user interest during the playoffs and the offseason.

The data clearly shows that the excitement surrounding the start of the new NBA season has reignited interest in NBA Topshot NFTs.

This is an excerpt from The Block's Data & Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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