NBA Top Shot is a popular digital collectible marketplace for NBA video highlights called “moments”. On NBA Top Shot, collectors can buy, sell and trade these licensed highlight NFTs showcasing top plays from NBA games. One key component of trading on NBA Top Shot is the use of trade tickets. Trade tickets allow collectors to initiate trades with other users without having to pay transaction fees. This enables more efficient trading and helps grow an engaged collecting community.
What are NBA Top Shot trade tickets?
NBA Top Shot trade tickets are consumable tokens that allow collectors to trade their moments without incurring transaction fees on the marketplace. Each NBA Top Shot account is allocated a certain number of trade tickets per month. The amount allocated depends on the user’s collector score. Higher collector scores are awarded more trade tickets.
When initiating a trade, NBA Top Shot will automatically consume one trade ticket. As long as the trade ticket supply lasts, users can trade freely without extra charges. Once the monthly trade ticket allowance has been used up, normal transaction fees apply to any further trades. Trade tickets refresh and reset back to the allocated amount at the start of each new month.
How do trade tickets work?
Here is a quick rundown of how NBA Top Shot trade tickets work:
– All users receive a monthly allocation of trade tickets based on collector score tier. For example, a collector with a “Ruby” level score would get 18 trade tickets per month.
– When proposing a trade to another user, 1 trade ticket is automatically consumed from your supply.
– Trades process without any transaction fees as long as you have trade tickets remaining for that month.
– Once your trade ticket supply is depleted, normal transaction fees apply for further trades that month.
– Used trade tickets do not roll over. Your supply refreshes back to the full allocation at the start of a new month.
– Users can see their remaining trade ticket balance on their profile dashboard.
– Trade tickets are only used when initiating trades. They do not apply to listings, purchases, or other transactions.
– Trade tickets cannot be transferred or traded. They are locked to the account that received the original allocation.
Why are trade tickets used?
NBA Top Shot introduced trade tickets as a way to stimulate trading activity in the marketplace. By removing transaction fees from trades, they hope to encourage more collectors to trade with each other. This contributes to a more engaged user base and liquid marketplace.
Here are some of the key benefits trade tickets provide:
– Removes barriers to trading – Transaction fees can discourage trading, so trade tickets make it “frictionless” for engaging in trades.
– Rewards active collectors – Frequent traders are allocated more tickets, so it rewards engaged users.
– Encourages deal making – Collectors can negotiate better trades without fees eating into the value.
– Provides flexibility – Allows collectors to trade freely without incurring costs right away.
– Contributes to liquidity – Increased trades between collectors results in a more fluid, active marketplace.
-Builds community – Trading creates dialogue and relationships between collectors.
How many trade tickets do you get?
The amount of trade tickets allocated each month depends on the user’s NBA Top Shot collector score. Here is the trade ticket allowance for each collector tier:
– Sapphire: 5 trade tickets per month
– Ruby: 18 trade tickets per month
– Amethyst: 30 trade tickets per month
– Diamond: 50 trade tickets per month
– Platinum: 75 trade tickets per month
Collector scores are calculated based on account activity, engagement, and other contributing factors. The higher the tier, the more trade tickets are provided.
For example, a user with a Ruby tier score would receive 18 trade tickets at the start of each month. A Diamond tier user would receive 50.
Users can check their monthly trade ticket allocation by visiting the “My Collection” page and viewing their profile summary. The trade ticket count will reset to the maximum for their tier at the start of a new month.
What happens when you run out of tickets?
Once a user has consumed all of their available trade tickets for the month, normal transaction fees will apply for any further trades initiated.
The transaction fee amount depends on the type of moments being traded:
– Common trades: $1 transaction fee
– Rare trades: $5 transaction fee
– Legendary/Fandom trades: $10 transaction fee
These fees cover the gas and operational costs required to process trades on the Flow blockchain.
Since each proposed trade consumes a ticket, collectors should strategize and budget their tickets for bigger trades. Running out early means paying fees for the rest of the month.
The ticket counter resets back to the full monthly allocation at the start of the next month. Prudent collectors try to conserve tickets for trades later in the month if possible.
Can you buy more tickets?
At this time, there is no way to purchase or acquire additional NBA Top Shot trade tickets beyond the standard monthly allocation. The only way to obtain more is to increase your collector score tier.
For example, a Ruby collector with an allocation of 18 tickets cannot buy extra tickets if they run out during the month. The only option is to pay the transaction fees until the tickets refresh.
However, if that user boosts their score to Diamond tier, then their allocation would increase to 50 trade tickets the following month.
Trade tickets are designed to encourage activity that raises collector score. Purchasing tickets would undermine the incentive to engage more with NBA Top Shot.
Do tickets roll over?
Unused NBA Top Shot trade tickets do not roll over or accumulate month to month. The allocation refreshes back to the base amount for the collector’s tier each month.
For example, if a user with 50 Diamond tier tickets only used 30 last month, they do not start the new month with 80. The ticket counter resets back to 50 tickets at the start of the month.
Similarly, used tickets do not carry over either. If a collector used up all 50 of their tickets in the previous month, they start the new month freshly with another 50.
Tickets are intended for active monthly use only. There is no long term accrual or savings of tickets.
Can you trade or gift tickets?
NBA Top Shot trade tickets are directly tied to the collector’s account and cannot be separately traded, gifted, or transferred in any way.
The tickets are automatically applied at the point of initiating a trade. There is no way to extract or isolate them from a user’s account balance and inventory.
Their sole purpose is to provide a limited number of transaction fee-free trades each month. Trade tickets only affect the collector who received the original allocation.
Do other NFT marketplaces use trade tickets?
While not yet ubiquitous, trade tickets are increasingly being adopted by other NFT marketplaces looking to drive more trading activity and liquidity.
Here are some examples of other NFT platforms using trade ticket mechanics:
– NFL All Day: The NFL NFT trading platform uses “Trade Passes” that function similarly to NBA Top Shot tickets.
– Sorare: The fantasy soccer NFT game provides “Free Transfer Tokens” to allow feeless player card trading.
– Wax: This NFT ecosystem issues vIRL® tokens that can be exchanged for free trades.
– Panini America: Their NFT marketplace for licensed sports & entertainment content uses “Crystal Scrims” as their trade ticket equivalent.
As more platforms recognize the benefits, trade tickets should become a standard NFT marketplace feature for incentivizing trading. NBA Top Shot pioneered the mechanic in the NFT space.
Do trade tickets impact market dynamics?
The use of trade tickets by NBA Top Shot introduces some interesting dynamics into the marketplace. Trade tickets help facilitate movement, but also add some strategy around optimal timing.
Some of the potential impacts include:
– Increased activity during ticket resets – New ticket allocations at the start of months could spike trading volumes.
– More deals late in cycles – Some may hold tickets until the end to negotiate better ticket-less trades.
– Strategic planning – Budgeting tickets for big trades may increase offers before depletion.
– Higher fees later in month – Running out of tickets earlier could disincentivize some late trades.
– Promotes collecting loyalty – Allocating more tickets to higher tiers rewards engagement.
– Added ticket scarcity – Having a limited ticket supply adds more consideration to their use.
Overall, trade tickets seem to promote healthy marketplace interactions. But Top Shot may continue tweaking allocations or mechanics to optimize behaviors.
Conclusion
NBA Top Shot trade tickets provide a creative way to incentivize collector trading and increase marketplace liquidity. By removing transaction fees, tickets break down barriers and encourage more frictionless deal-making. They also reward loyal engagement through tiered allocation models.
As one of the first major NFT platforms, Top Shot is pioneering clever mechanics like trade tickets to build a thriving trading community. It provides collectors more flexibility and control over their trading strategies.
The limited monthly supply adds more consideration around optimal timing and budgeting. As the broader NFT market matures, trade tickets or variations of them will likely become more commonplace. But NBA Top Shot continues leading the way when it comes to innovating and fine-tuning the model.