NFTs are extremely hot right now and are stating to hit the sports card market. The NBA has NBA Top Shot which has been a massive success. With Topps going public they are also trying to capture some of this digital market share. In this video I break down my thoughts on the baseball card NFT market and whether or not Topps NFTs are a good buy.
If you haven’t heard about NFTs, you should know what they are. They are coins, or non-fungible tokens. These coins can be bought and stored digitally. Since these coins are stored on a blockchain, there’s no risk of fraudulent transactions. You can even see a sample of an NFT by searching online. This is one of the benefits of NFTs – they can be bought and sold digitally.
The company Topps Digital Sports and Entertainment, which sells digital collectibles, has been in the business since 2012. It has created new avenues for fans and collectors to enjoy its products. Senior Vice President of Major League Baseball Games and VR, Jamie Leece, is one of the people behind the new Topps NFTs. In addition to launching a cryptocurrency-based platform for sports cards, the company has also created an NFT marketplace, OpenSea, which logged more than $1 billion in transactions in the past month alone. Recently, Visa purchased CryptoPunk NFT, another NFT marketplace.
In addition to these collections, Topps also has partnered with WAX on a few projects. One of the most recent NFT sets in the MLB is the 2021 MLB Collection. This collection of baseball cards is due to debut through Topps’ new NFT platform, the Avalanche blockchain. Among the collections that have been released so far are the Topps NFTs, featuring some of the greatest names in the game.
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