NBA Star NFT Sells For Record-Breaking Price On Sorare

NBA NFT News: Sorare NBA set a new record on Sunday when a 1/1 NFT of Giannis Antetokounmpo sold for $187,000 in ETH. This was by far the biggest sales month for the relatively new platform.

This past weekend, the unique Antetokounmpo NFT was sold at an auction on the Ethereum-based Sorare NBA platform for nearly 113.9 ETH, or just over $187,000. The price of the previous peak sale, which was an Anthony Davis NFT that sold for more than $62,000 in December, was tripled, according to data from CryptoSlam.

One of the largest NBA NFT sales

Additionally, it’s the largest Giannis Antetokounmpo NFT sale that anyone is aware of. The NBA champion Bucks player sold for $95,000 on NBA Top Shot, Dapper Labs’ video collectibles platform that utilizes the Flow blockchain. This transaction took place in February 2021. It shares the distinction of being the chain’s 16th-largest Top Shot sale ever.

However, Sorare’s best NBA players can’t match the athlete’s highest score when measured against physical trading card sales. A rookie card of Giannis Antetokounmpo that was autographed sold for nearly $1.8 million in September 2020. It once set a record for the highest price ever paid for a basketball trading card. For a platform that only launched in October, the Sorare NBA Sale is a significant event. Additionally, it follows a period of time in which NFT prices and sales have been declining. For instance, it’s been almost two years since NBA Top Shot sold that many NFTs.

NBA Top Shot’s effects

NBA Top Shot played a role in the popularity of NFTs in 2021, and so far, secondary market sales have generated more than $1 billion. The majority of these sales, however, took place in the first few weeks of 2021. A piece of LeBron James memorabilia sold for nearly $388,000 in April 2021 at an off-chain auction house. The highest single NFT sale for Top Shot was this one.

Also Read: Explained: What Are PFP NFTs And How Do They Work?

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