In order for collectors on NBA Top Shot to have all the information they need regarding wallets, tokens, and fees, we’ve rounded up the information in one place.
How does Dapper on Flow work today?
Dapper on Flow is a custodial wallet with the ability to allow purchases with fiat currency via credit cards and cryptocurrency via your existing wallets. Credit card purchase is extremely simple and self-explanatory. Crypto purchase requires a few extra steps to access your decentralized wallet and use the currency you hold to purchase Top Shots and packs.
Crypto purchases can be made using ETH, BTC, or BCH. As demand from users changes, we will add more options from various blockchains. The vision is for Dapper to support purchases using whatever kind of currency you want - from fiat to crypto.
Dapper on Flow does not connect to Dapper on Ethereum. The two wallets are completely separate for the time being. A new account will need to be created for NBA Top Shot, which will automatically create a wallet when a Top Shot NFT purchase is made.
The goal for the MVP of Dapper on Flow was to make it easy for mainstream consumers to participate in the blockchain economy. If there was ever a question, we erred on the side of mainstream consumers being able to join and easily access Top Shot content. The future of Dapper on Flow is to continue to work towards an open ecosystem and multi-product adoption.
How will Dapper on Flow evolve?
The vision for Flow is to be a universe in which people have control over their own assets, but can do so at scale. The shortcomings of the existing systems is that there is a clear cap on how many concurrent transactions can happen, so Flow is built to create true ownership at scale. Taking the learnings from Dapper on Ethereum, Dapper on Flow will support this in being the place to hold your tokens from across the Flow network, and so long as a node is being operated on the network, your assets will exist and be yours. Dapper will be a place you can securely transact with the assets you truly own, whether that’s buying, selling, or gifting. In its current iteration, Dapper accounts already support a multi-currency environment. In the future, Dapper will be where you can hold your NFTs, your currency, and whatever new and exciting things the ecosystem builds next.
Partnering with leaders in financial freedom
Partnerships with Coinbase and Circle allow Dapper and Flow to make use of existing infrastructure to create greater financial freedom in purchasing. Coinbase provides the ability to take cryptocurrency payments and connect to other crypto wallets you already use that are not on Flow. Circle provides custodial wallet services and fiat payment rails.
Mosey on over to this preview to learn more about Flow, the blockchain that NBA Top Shot is built on. One of the most common questions we get is for more information about FLOW tokens.
At launch, FLOW will be utility tokens used only to run the network. This will change in the future as the token is more widely adopted, but for the beta period, don’t expect to hold FLOW tokens in the Dapper on Flow account for use in NBA Top Shot.
Transaction fees on Flow for NBA Top Shot
Transaction fees on Flow are modeled to be far lower than on Ethereum. Transaction fees are currently, and will be for the foreseeable future, flat and fixed for each transaction. Submitting a tx to the Flow network will cost no more than fractions of a cent.
For the remainder of the beta period, however, fees on pack purchases in NBA Top Shot will be covered by Flow and will not show up in purchase amounts for players.
Other fees to expect
For each credit and debit card transaction, an industry-standard processing fee will be applied to each purchase. These fees will be charged in USD and are clearly outlined in your checkout screen.
For crypto payments, standard network fees are applied on top of order totals. For example, if using ETH to purchase, gas fees will be directly from the Ethereum network and will be set like any other ETH based purchase.
When using a Coinbase wallet, the network fee based on the blockchain you’re using will be applied automatically by Coinbase and the total amount will be shown before completing the checkout.
Your Dapper on Flow account can hold a Dapper balance in addition to your Top Shots and future Flow NFTs. The Dapper Balance is what you earn from sales in the Marketplace or from the Affiliate program. This balance can be used to purchase moments or packs in the marketplace. It can be converted directly into fiat through ACH or into USDC to be used on Ethereum.
In order to comply with financial regulations, players of NBA Top Shot, will go through a KYC process when larger sums of money are either being spent or paid-out. This will also help keep the community safe to eliminate fraud.