The digital collectables are in the marketplace (all this is officially licensed by the NBA) and they have actual value. The collectables vary in value depending on their rarity. The thing I’m concerned about is, there are packs that drop. They vary in costs, but the more common costs are 9 dollars, 15 dollars. The packs itself are limited, and if you are lucky to purchase one you can open these packs and you will receive 3 cards (sometimes more depending on the pack). All the cards have value, and they can increase or decrease in value based on the market. Some cards will have more value than another; depending on some factors. So if you open a pack and the 3 cards are lower than your initial investment, it does not mean you cannot make the money back in the future. It is quite rare to lose your money on the $9, $15 packs and I have not known anyone else who has.
Is this considered gambling? We don’t play a game or bet on sports? If so, is it still possible to “sell” the packs on its own (as they have resale value as well).
Many thanks Mufti Faraz for this helpful explanation for NFT’s.
My question is related to the trading card concept. Is it considered gambling as you are buying a pack with several cards and it will depends on your chance if some of these cards are valuable ?