NBA Top Shot continues to grow in popularity despite January's crypto bloodbath

• NBA Top Shot NFTs grew impressively throughout January, with sales up 72% according to CryptoSlam data.
• This was the first major offering from Dapper Labs and aimed to make NFTs accessible to the general public.
• Dapper Labs recently teamed up with NBA star Kevin Durant and also dropped their first UFC NFTs at the weekend.

Despite the crypto market shrinking during January, demand for non-fungible tokens continues to grow, with Dapper Labs' original NFT offering NBA Top Shot growing 72% this month alone, according to data from CryptoSlam.

NBA Top Shot launched a new TV and social media advertising campaign with Kevin Durant this week, and as part of this is giving away a free "moment" to new users.

Dapper Labs, the startup behind virtual trading-card platform NBA Top Shot, launched in October 2020 and has sold millions of dollars worth of NFTs since, even attracting fans like Mark Cuban. In March of last year it closed a $305 million funding round at a $2.6 billion valuation as the market for digital collectibles experienced its initial boom.

In the last month, it's already booked $53.8 million in sales, marking a 72% increase, despite the steep slide in the cryptocurrency market that has sent the likes of bitcoin to its lowest in six months, according to CryptoSlam.

The round was led by investment firm Coatue and includes notable investors like Michael Jordan, Kevin Durant, Klay Thompson, and Andre Iguodala, several of whom recently announced they'll be taking half of their salary in bitcoin.

NBA Top Shot is geared towards people who are curious about NFTs, but aren't necessarily crypto natives, allowing users to buy with NFTs easily in dollars, rather than with an established cryptocurrency. It was developed in collaboration with the NBA and the National Basketball Players Association and allows fans to collect and trade officially licensed basketball highlight "moments."

NBA Top Shot launched a new TV and social media advertising campaign with Kevin Durant this week, and as part of this is giving away a free "moment" to new users. This is Durant's latest foray into crypto as he recently became an ambassador for Coinbase.

Dapper Labs is expanding its NFT offering with the Ultimate Fighting Championship (UFC) Strike NFT Collectibles. These will include video footage taken at UFC events and the first packs dropped on the 23rd of January.

Dapper Labs aren't stopping with the UFC and NBA. In September, the company announced it will be launching NFL NFTs, NFL All Day, after this season concludes in a few weeks' time.