NBA Top Shot, an NBA trading card system based on blockchain developed in partnership with Dapper Labs, has been making buzz among people--whether they are basketball fans or not.
Top Shot allows users to buy and sell NBA-licensed video highlights, in a way similar to trading cards but in a more revolutionary way, according to NBA website.
NBA Top Shot highlights are converted into a collectible digital asset and sold as a non-fungible token (NFT), each of them is unique and equipped with an authenticity certificate.
Fake NBA Top Shot highlights are instantly red-flagged, thanks to blockchain technology. NBA highlights price can cost at least $9 and go up to $230. Buyers then may resell NBA highlights on the NBA Top Shot Marketplace at a price much higher than the original.
In fact, an NBA highlight featuring LeBron James sold for $250,000, followed by a Ja Morant dunk at $240,000.
Dapper Labs reported that people have spent more than $230 million trading NBA Top Shot highlights, as per CNBC's report. With that being said, it gives us another opportunity to earn money through blockchain technology.
NBA Top Shot Withdrawal Process
If you've been an NBA Top Shot user for quite a while and you would want to withdraw the balance you earned, here are some steps to follow, according to Baskerball Noise:
- NBA Top Shot withdraw procedure requires you to log in to your Dapper account. Go to NBA Top Shots, click the circle on the top right to reveal your user name. Click "Dapper Balance" to access your Dapper account.
- Click "Payments & Payouts" on the left-hand side of your Dapper account screen. You will have an option to withdraw the balance and see accounts that have access to withdrawal. Note that Dapper will review your account and the process may take up to 30 days.
- NBA Top Shot withdrawal requests work only with banks based in the United States, but you can also move your money to an e-wallet. You can withdraw a minimum amount of $30 with a $25 processing fee.
- The NBA Top Shot withdrawal procedure requires identity verification. Users based in Canada, Western Europe, and the U.S. may submit a driver's license, passport, or other government-issued IDs for verification. Users outside those territories, however, must submit a passport only.
- Dapper will ask you to take a photo of your valid ID. Make sure the residential address on it is consistent with what is on your Dapper account. ID verification may fail if the photo you took is blurry or dark.
- Note that Dapper does not recognize the following as valid IDs: global entry cards, medical IDs, military IDs, public services cards, residence permits, and school IDs.
- Add your bank account to Dapper once ID verification is done. Select "Payout Via Wire Transfer." Remember that you must provide the account number, the legal name on it, the billing address, and the routing number.
- Make sure that your bank is recognized by Dapper. Contact Dapper to check with them if your bank is among those recognized.
Here's a detailed video guide to withdraw from your NBA Toip Shot account:
