Giannis Antetokounmpo NFT sells for a record $187,000 on Sorare NBA

tough nbaOfficially licensed and NFT– Power fantasy basketball set a new milestone on Sunday when Giannis Antetokounmpo hit 1/1 NFT It sold for $187,000 in ETH– Highest sales to date for the relatively young platform.

The single copy Antetokounmpo NFT was auctioned through Sorare NBA Private EthereumThe platform was based this weekend and sold for around 113.9 ETH, or just over $187,000. US dollar selling price triples previous sell-off high: Anthony Davis NFT sold for more than $62,000 (roughly 49 ETH at the time) in December, per data from cryptoslam.

It is also the largest known sale of any Giannis Antetokounmpo NFT. on The best shot in the NBADapper Labs video acquisitions platform launched blockchain flowis the largest sale in the chain for an NBA championship-winning Bucks star valued at $95,000 in a February 2021 deal. It is tied for 16 Biggest Selling Top Shot Series To Date.

But compared to physical trading card sales, even Sorare’s best NBA can’t compare to an athlete’s highest rating. Starter card signed by Giannis Antetokounmpo – with a piece of game jersey included in the card –It sold for over $1.8 million in September 2020. It briefly held the record for the most expensive basketball trading card sale.

Sorare NBA sales are significant for a platform that only launched in October, plus it comes after several months of low sales and prices for the broader NFT market. For example, NBA Top Shot hasn’t seen such high NFT sales in nearly two years.

But the NFT market increased by 38% in January in organic trade volume month-over-month, according to data from DappRadar, indicating the space’s growing momentum. The NFT market itself has only been around for a few years, and it was only in early 2021 that it gained mainstream attention and notoriety.

By comparison, sports cards have been collected, traded, and sold for decades, and the prices of higher-end cards have skyrocketed during the COVID-19 pandemic. The most expensive card ever sold – a 1952 Mickey Mantle baseball card – was It was sold at auction for $12.6 million In August 2022. The current best selling basketball card is the Steph Curry card Sold for $5.9 million in July 2021.

Sports collectibles has been a notable use case for NFTs, which are blockchain tokens that represent ownership in a unique item. They are used for things like digital trading cards, artwork, profile pictures (PFPs), and video game items. The NFT market has reached $25 billion in organic NFT sales. each of the past two years.

NBA Top Shot helped bring NFTs into the mainstream in 2021 and generated over $1 billion in secondary market sales to date. However, the bulk of these sales occurred in the first few months of 2021. Top Shot’s highest single NFT sale occurred in April 2021, when LeBron James’ holdings were collected It sold for approximately $388,000 In an off-chain auction house deal.

Sorare is known for Fantasy Football NFT gameBut she has since added Major League Baseball and NBA spin-offs.

Across all three platforms, Sorare has generated over $545 million in trading volume to date, per data from CryptoSlam. The highest sale on Sorare’s core soccer platform was an NFT card for star player Erling Haaland, who Sold for 265.1 ETH (approximately $679,000 USD) in January 2022.

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