NBA Star NFT sells for record price on Sorare

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

The weekend we had the one and only Antetokounmpo NFT sold at auction at Ethereumbased on the 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, has tripled, according to data from CryptoSlam.

One of the biggest selling NBA NFTs

Additionally, it is the largest Giannis Antetokounmpo NFT sale known to anyone. The NBA champion Bucks sold for $95,000 NBA’s top shotvideo aggregator platform by Dapper Labs that uses 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 rating when measured against physical trading card sales. An autographed Giannis Antetokounmpo rookie card sold for nearly $1.8 million in September 2020. It once held the 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 major event. Additionally, there follows a period of time when NFT prices and sales decline. For example, it’s been almost two years since NBA Top Shot sold that many NFTs.

NBA Top Shot 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 Selling NFTs for Top Shot that was it.

Also read: Explained: What are PFP NFTs and how do they work?

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