After a long wait, NBA Top Shot has finally unveiled their much-anticipated Trade Ticket system which gives collectors more flexibility for their Moments. The NFT platform, licensed by the NBA and the NBPA, continues to innovate and deliver on its push in becoming the currency of fandom when it comes to basketball and this new feature only makes the collecting experience within the platform much more dynamic.
Initially introduced earlier in April, the concept of Trade Tickets allows a user to trade-in Moments from his/her collection in exchange for a Trade Ticket. A certain number of Trade Tickets can be used to purchase packs in the foreseeable future. Think of basically swapping Moments you’re not keen on holding for a pack which could potentially land you rarer or simply better Moments.
Here’s a breakdown from NBA Top Shot’s Community Lead Jacob Eisenberg:
Trade Tickets just launched ⚡️
Find out more about our newest feature, rolling out in 3 phases starting today: https://t.co/bIpBY7zcHc pic.twitter.com/LIwt7Ww6cf
— NBA Top Shot (@nbatopshot) September 16, 2021
To echo the announcement, this is just the first of three phases of this whole Trade Ticket system. Phase 1, which is live on the website right now, unlocks the feature to swap any of your own Moments for a Trade Ticket one at a time. Phase 2, which they’re hoping to roll out soon in the coming weeks, will allow collectors to acquire Trade Tickets in bulk – meaning you can trade a dozen of your Moments for a dozen of Trade Tickets, all in one go.
Once both of these phases have been fully adapted to the platform, the final phase will then be introduced which will enable users to purchase elusive Series 1 packs which include Top Shot Debut Moments from superstars like LeBron James of the Los Angeles Lakers and much more. It is projected that around 300-500 Trade Tickets would be needed to purchase a Series 1 pack containing three Moments.
So, how does it work exactly? To trade in a specific Moment, just head on to the product page and simply trade it in. It’s as easy as buying, selling, or gifting a Moment. Once you’ve successfully traded in your Moment, a Trade Ticket will automatically pop up in your account – easy peasy. Keep in mind that the tier of the Moment won’t matter; whether you’re trading in a Legendary, a Rare, or a Common Moment, all you get is 1 (one) Trade Ticket per Moment. 1:1, basically.
To test out the all-new feature and get a feel of the community response, NBA Top Shot will conduct a Stress Test on Tuesday, September 21 (10 AM PDT) where you can use three Trade Tickets to purchase a maximum of one pack containing three Series 2 Base Set Moments. You can participate by simply having at least three Trade Tickets in your account by Monday, September 20 (9:30 AM PDT). The website also mentioned that there will be another Stress Test that will follow the same rules before Series 3 starts so make sure you have a total of six Trade Tickets before Monday’s deadline if you want to participate in both.
This all-new feature is hoping to empower collectors in giving them more freedom and flexibility when it comes to their collections. In terms of the platform’s economy and strategy, the team is also hoping that the rolling out of this much-awaited pseudo-deflationary system also helps both in the long and short term. Here’s an in-depth piece from the NBA Top Shot economist if you want to learn more.
We just launched Trade Tickets. Here’s what to know about the 3 phase rollout and the impact I’m expecting this feature to have on the economy. https://t.co/VZISc61cTY
— The Top Shot Economist (@TopShotEcon) September 16, 2021