Sotheby's is the auctioneer NBA Top Shot Digital Collectibles The NFT market is witnessing a modest recovery amid a broader boom in the cryptocurrency market in recent months.

The auction house is Eight NBA Top Shot NFTs for salewhich range in value from $500 to $3,000 each, as part of a broader NBA memorabilia sale, a company spokesperson said. He said Tuesday in a statement. Bidding is open until January 21st.

The sale includes digital collectibles featuring several famous basketball players, including Jaylen Wells, Bob Carrington, Paccom Dadet, and Keyshawn George. Each set includes a highlight clip from the respective player's first NBA game.

The auction comes as digital art collectibles have seen a slight rebound, with wider NFT trading volume Climbing in December Where some projects gained great value. However, some of this rise appears to be attributable to buyers trying to earn cryptocurrency rewards around the world Launch Pudgy Penguins PENGU tokenIt is unclear whether the broader NFT market is seeing a further recovery.

NBA Top Shot Launched in 2020the beginning NFT craze Among fans of a sport that was prevalent in early 2021 and has since faded dramatically.

While the project witnessed a peak in monthly sales of $226 million in February 2021,... flowBased on NFTs, sales accounted for less than $2 million last month, according to data from CryptoSlam. The group has generated sales of approximately $1.25 billion to date.

Sotheby's has made several forays into NFTs in recent years, despite the prolonged downturn in the token market.

In 2021, Sotheby's sold nearly $17 million worth of NFTs in collaboration with digital creator Buck, According to To its website. And just last summer, the auction house Put up for sale batch of Bored Ape Yacht Club-Centering Ethereum NFTs.

Last year, Sotheby's also delved into the world of Web3, launching The secondary market for on-chain NFT sales on its own metaverse platform.

Modified by Andrew Hayward