How Trade-In Auctions Work
Trade-In Auctions on NBA Top Shot give collectors the opportunity to compete for exclusive rewards by submitting eligible Moments. Moments are the officially licensed digital collectibles (highlight clips) that make up an NBA Top Shot collection. During a Trade-In Auction, collectors submit Moments that meet specific criteria for a chance to win a designated reward.
How to Participate in a Trade-In Auction
Each Trade-In Auction lists clearly defined eligibility criteria that Moments must satisfy in order to qualify. Eligibility criteria for a Trade-In Auction may include requirements such as:
- A minimum average sale price that the submitted Moment must meet
- A required total number of Moments to be submitted
- Specific set affiliations, featured players, or collectible tiers that the Moment must belong to
To enter a Trade-In Auction, collectors submit one or more eligible Moments that satisfy all of the auction's stated requirements before the posted deadline.
What Happens When You Submit Moments to a Trade-In Auction
When a collector submits Moments to a Trade-In Auction, those submitted Moments are placed in a temporary hold for the duration of the auction. Your submitted Moments will appear as unavailable in your collection while the Trade-In Auction is active. All Trade-In Auction submissions must be completed before the auction's posted deadline.
Settlement Timing and Blockchain Processing for Trade-In Auctions
Occasionally, collectors may notice a blockchain timestamp on their Trade-In Auction submission that appears to fall after the auction deadline. A timestamp after the deadline does not mean that a late submission was accepted into the Trade-In Auction.
All Trade-In Auction entries must be initiated before the deadline. Because blockchain transactions can take time to fully settle on-chain (meaning the transaction must be confirmed and recorded on the blockchain's public ledger), NBA Top Shot allows up to 15 minutes after the auction closes for transactions to finalize their on-chain processing.
No Trade-In Auction submissions are accepted after the official auction deadline, even if the blockchain settlement occurs shortly after the deadline has passed.
What Happens If You Win a Trade-In Auction
If a collector's submission meets all eligibility criteria and is selected as a winning entry in the Trade-In Auction, the following will occur:
- The collector's submitted Moments will be burned, meaning those Moments are permanently and irreversibly removed from circulation and can no longer be owned, traded, or sold.
- The winning collector will receive the designated Trade-In Auction reward as specified in the auction listing.
What Happens If You Do Not Win a Trade-In Auction
If a collector's submission is not selected as a winning entry, the submitted Moments will be released from their temporary hold and returned to the collector's NBA Top Shot collection. No Moments are lost or burned for non-winning participants in a Trade-In Auction.
Frequently Asked Questions About Trade-In Auctions
Can I submit Moments after the Trade-In Auction deadline has passed?
Collectors cannot submit Moments after the Trade-In Auction deadline has passed. All submissions must be initiated before the posted deadline. Although blockchain settlement may take up to 15 minutes after the auction closes, no new entries are accepted once the deadline passes.
Will I lose my Moments if I do not win the Trade-In Auction?
Collectors will not lose their Moments if they do not win a Trade-In Auction. All submitted Moments from non-winning entries are released from their temporary hold and returned to the collector's collection after the auction concludes.
What does it mean when my submitted Moments show as unavailable during a Trade-In Auction?
Submitted Moments showing as unavailable during a Trade-In Auction means those Moments are in a temporary hold while the auction is active. The Moments cannot be traded, sold, or transferred until the auction concludes and results are finalized.