One of the new non-fungible token (NFT) collections of the past year recently hit the market: The MekaVerse NFT collection.
Curious about this new NFT collection and why it’s generated some attention? This guide will explain what MekaVerse NFTs are, their history, and you need to know about the NFT market today.
Recap: What Is an NFT?
NFT stands for “non-fungible token,” a type of digital asset that typically takes the form of some sort of artwork. One way to think of it is that they’re much like a digital version of a baseball card.
NFTs have unique, identifiable metadata codes, meaning that they cannot be copied, and as such are one-of-a-kind. On the other hand, fungible tokens, like bitcoins, have many copies—they are all the same.
What Is MekaVerse NFT?
The MekaVerse NFT collection (which you can view here on OpenSea ) is a project that launched in October 2021, and it features 8,888 NFTs. The NFTs themselves feature a very specific artwork style, each boasting robots that are commonly known as “Mekas.” These Mekas are inspired by Gundam-style robots, which is itself a fictional Japanese anime franchise that features giant military robots called “mechas.” Each individual Meka has its own, unique story, or lore, that comes with it.
Since NFTs hit the mainstream over the past few years, the MekaVerse collection may be one of the more notable collections. That said, this release joins a long list of similarly hyped NFT collections, some of which have gained or lost value over time.
History of MekaVerse
The two main people behind the MekaVerse project are “Matt” and “Mattey,” two European digital and graphic artists. They teamed up with Julien van Dorland, a veteran of the NFT landscape, and in late August 2021, MekaVerse opened social media and Discord accounts to the public to get a look at the NFT artwork.
From there, the hype took off. MekaVerse also started a public raffle that was held in early October, with the winners getting a chance to mint NFTs featuring either one or two Mekas. Those NFTs were then made public on OpenSea, an NFT marketplace. There was massive demand, too, as users registered nearly 173,000 wallets for the raffle.
On October 13, 2021, the complete MekaVerse NFT project was revealed . Sales for MekaVerse NFTs commenced, with sales averaging well into the thousands of dollars, and more than 5,000 individuals becoming MekaVerse NFT owners in the months since.
How Do MekaVerse NFTs Work?
The project’s collection of nearly 9,000 NFTs is designed to capitalize on the “scarcity” aspect of NFTs, and therefore, increase their value. Each individual Meka in the project is a unique, three-dimensional creation, further adding to its perceived value.
How to Buy MekaVerse NFTs
The NFT collection is open to traders, collectors, and NFT investors. It’s housed on OpenSea, which is one of the world’s largest NFT marketplaces.
To browse or buy, you can simply go to the MekaVerse NFT collection on OpenSea , and take a look at all of the NFTs that are available. The marketplace has data related to pricing, bidding, and more.
When someone becomes a holder of a MekaVerse NFT, they become a part of the Meka’s corresponding “faction,” and can then gain access to exclusive events on Twitter and Discord.
You can make an offer or buy NFTs on OpenSea, but it’ll require that you use Ethereum, or ETH, to do so. So, before you can actually make the purchase, you’ll need to create an account, get an Ethereum wallet, and attach it to your OpenSea account, so as to facilitate the transaction.
How Much Do MekaVerse NFTs Cost?
Since NFTs are commodities and traded on a marketplace, their prices are in flux. But if you’re looking for a straightforward answer as to how much MekaVerse NFTs cost, here’s one: They aren’t cheap.
As of mid-to-early December 2021, the median price for a MekaVerse NFT was more than $4,500 (although they’re priced in ETH). But some have sold for much more. Around the time the project launched, some NFTs were selling for hundreds of thousands of dollars.
Negative Sentiment Around MekaVerse NFTs
Every project has its issues and detractors, and the MekaVerse project is no different.
For instance, there were some delays in revealing some of the NFT images, which led to some lost momentum prior to launch. But those concerns were seemingly dwarfed by allegations of fraud, which surfaced on Twitter after the project launched.
In short, some people allege that certain buyers had early access to metadata, giving them an inside look at what images would be contained in certain NFTs — information that wasn’t available to everyone. That means that some buyers could have gotten their hands on high-value NFTs at lower prices, only to see their values shoot up later on.
Finally, there’s also been some criticism of the project due to the seeming lack of uniqueness among the NFT images. Some of the images appear to simply have colors swapped, rather than be a completely different Meka.
As arguably the most anticipated NFT drop to date, the MekaVerse NFT collection has become very popular, very fast. The MekaVerse team does have a roadmap in place, which includes bringing the MekaVerse into the physical world with clothing and toys. There are also plans to airdrop free NFTs to current holders, which may include “weapons” and “companions” in future online games or events.
The NFT market is still new and full of potential for creators and investors. However, before investing in cryptocurrencies, NFTs, or any other digital asset, it’s important to research and understand the market.
One way to get started investing in digital assets is with SoFi Invest®. Members can trade cryptocurrency online from a selection of dozens of coins like Bitcoin, Ethereum, Dogecoin, Solana, Bitcoin, Litecoin, Cardano, and Enjin Coin.
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