Why the Nuggets do it: This trade accomplishes three goals. Firstly, the Nuggets don't have a good defensive small forward on the bench (Peyton Watson plays PF). Julian Strawther is their back-up SF, which can lead to bad defensive lineups. Highsmith can swap in for Hardaway Jr. or Strawther if one of them is playing particularly bad defense. Secondly, Highsmith's expiring contract frees up money to resign or extend Christian Braun and Peyton Watson in the 2026 offseason. Thirdly, this trade gets the Nuggets under the luxury tax, a massive win for the owners. Overall, this trade is a no-brainer for Denver.

Why the Nets do it: The Nets are extremely far away from championship contention, so they need to stockpile picks sooner rather than later. Highsmith is not really needed on the Nets, a team more focused on developing young talent. Also, Nnaji is a somewhat solid back-up for Nic Claxton if they ever needed him for that role.