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

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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 <a href=«https://twitter.com/KDTrey5/status/1483787255781154816?ref_src=» https: