NFT mystery box explained

The world of NFT is full of surprises. Every day NFT developers as well as NFT enthusiasts hear news about new technologies and the expansion of the NFT world. NFT developers and artists try new ways to attract more members to their communities and provide more support to their NFT collections. Besides, NFTs are being used in many different ways like gaming and the Metaverse.

A recent surprise in the NFT world seems to be NFT mystery boxes. Generally speaking, an NFT mystery box is similar to a physical mystery box. This box may contain a random NFT from a specific NFT collection. NFTs may have different rarity levels in a mystery box. There is even a chance to get a super rare NFT that sells for thousands or millions of dollars. In the worst case, you may find a common NFT in a mystery box; it is still fun.

NFT mystery boxes can be purchased from NFT marketplaces like Binance or OpenSea. You can open the mystery box whenever you want or try to sell it without opening it for a profit. Sounds interesting? Let’s have a closer look at NFT mystery boxes in this article.

What are NFT mystery boxes?

A mystery box contains a special random product. In fact, buyers pay a fixed price to get a mystery box without knowing its content until they open the box. They hope to receive special or rare products at a relatively small price. The expectation and curiosity of mystery boxes can attract buyers of all ages. The element of surprise makes NFT lovers excited about a mystery box.

The mystery box hype emerged in the NFT market in early 2021. Many companies are now issuing limited-edition mystery boxes that contain NFTs of different rarity levels to surprise buyers. There are thousands of NFT mystery box series available on the market. If you buy a mystery box from an NFT collection, you can guess about the digital assets you might get by reading the box description.

What’s in the NFT Mystery box

NFT mystery boxes may include various digital assets according to the platforms. In most cases, a mystery box contains an odd NFT from a particular NFT collection. Therefore, the NFTs from a mystery box may come in different levels of rarity.

NFT mystery boxes allow artists to directly link with their audience, interact with them and make earnings through every NFT they build as well as improve their NFT communities. Fans also get the chance to own digital items that they can put out, sell or even swap.

It is also worth noting that NFT mystery boxes hold more than just artworks. Mystery boxes offered by blockchain games, such as Axie Infinity, DeHero, and Metamon, may include rare in-game items. The boxes may also contain tokens such as characters, virtual lands, skins, or other collectibles.

Some may question why buyers pay for a box while there is no guarantee if they can get the NFTs they want. The answer could be that the content of a mystery box from a certain NFT collection is attractive to the buyers, especially if there is a difference in drop rate between them.

NFTs in mystery boxes can range in terms of rarity. The rarest NFT in the box, for example, might come with a more unique NFT, with more utilities behind it such as the right to join an exclusive club. The common NFTs may lose value right after the primary sale while the rare ones are precious assets to keep longer for a better sale price.

Therefore, it is already understood that there is really no restriction on the content of a mystery box. You can find artworks, tickets, NFT cards or even rare in-game items as NFTs in mystery boxes. Remember that NFTs from mystery boxes can be traded or resold after purchase, and this means collectors can try their luck by getting the rare NFTs and putting them for sale later on to interested buyers.

Are NFT mystery boxes addictive?

NFT mystery boxes seem to be the new best way for creators to drive more sales to their NFTs since it is proven that people are willing to do gambling. According to psychology, all people may show interest in unpredictably distributed rewards.

The uncertainty about a reward from an NFT mystery box, compared to the same reward delivered on a predictable basis, would cause more excitement and energy among buyers. Considering the big surprises already met in the NFT world, you can see how it works so well in the NFT space where NFTs are already so unique and flexible, to begin with.

Where to Get an NFT Mystery Box?

As already mentioned, there is an unlimited number of NFT collections available in the market. You can purchase them from several NFT marketplaces. Besides, new NFT series are launching at an incredible speed and they are trying their best to attract investors using their creativity, for example, an NFT mystery box. As a result, the best place to discover new mystery boxes can be the prominent NFT marketplaces, such as OpenSea, Binance, SuperRare, Rarible, etc.

Some of the NFT spaces partner with prominent NFT developers to roll out mystery boxes regularly. Vogue Singapore, for instance, let out NFT mystery boxes that had paintings of sunrises all around the globe.

However, buyers may choose to purchase a mystery box from other marketplaces. Just like buying an NFT, an essential requirement to purchase a mystery box is to own a crypto wallet on the Binance Smart Chain (BSC) or Ethereum networks, in accordance with the platform you choose to trade on. Also, remember that you need to charge your wallet with the desired cryptocurrencies required to purchase an NFT mystery box.

How to buy an NFT mystery box?

To buy NFT mystery boxes, first, you need to choose an NFT marketplace. Let’s have a quick look at the general steps:

Open your desired NFT marketplace and log in to your account. Click “Register” and create a new account if you are not already a member.After you create a new or log in to your existing account, find “Mystery Boxes” on the toolbar.Then click the “Explore Marketplace” icon.Look for the unopened mystery boxes. Select and click the mystery box of your choice.Enter the NFT mystery box product page.Read the details of the mystery boxes. There will be information regarding the price, description, expiration date, product details, etc.You can also check the rarity ranking of the NFTs in the mystery box.Next click “Buy Now”.Once you click, you will get the order details. A window appears to confirm the purchase.Click confirm to pay and purchase the mystery box.

How to open a mystery box?

Now that you own a mystery box, it is time to find out about the contents.Click the mystery box.Choose “Click to Reveal” button to open the box.Then, click the “Open Box” button.Your mystery box opens and you can view the artwork or collection you have purchased.

How to sell an NFT mystery box?

You also can sell your unopened mystery box in an NFT marketplace. Take the following steps:

1. Go to the NFT product page and click the “List NFT” icon.

2. You will be directed to the listing page.

3. If you want to sell your NFT mystery box in an auction, choose an option from three possibilities:

Auction sale: choose the “Highest Bid” and Select and input a price in the “Minimum Bid”.

Direct purchase: input a price in the “Buy-out Price” section.

Instant sale: Choose a “Set Price” for direct sale to the buyer.

5. Set a sale value in the “Price” section.

6. Choose your preferred cryptocurrency for payment.

7. Choose a selling date. The sale date is confirmed once the mystery box is listed.

8. After setting, click “Submit” to confirm the sale.

Conclusion

NFT mystery boxes have added more excitement to the NFT space. They definitely have increased the trading volume of these tokens and caused a heightened and better turn in a great and creative way. This opportunity creates the chance to receive unique NFT artworks at a reduced cost and possibly get the rare items to be part of different gaming platforms.

Latest NFT News, Trendings and Tutorials, right at your inbox, every Monday

The post NFT mystery box explained appeared first on NFT News Pro.

Related Posts

MTV introduces the ‘Best Metaverse Performance’ award category

Six metaverse musical acts are up for nomination, including Ariana Grande, Justin Bieber and the K-Pop group BTS. The 2022 MTV Video Music Awards (VMAs) added a…

Can exchanges create imaginary Bitcoin to dump price? Crypto platform exec answers

Serhii Zhdanov called for broader regulation in offshore crypto exchanges that do not go through financial audits. One of the most substantial value propositions of Bitcoin (BTC)…

Nearly $55M worth of Bored Ape, CryptoPunks NFTs risk liquidation amid debt crisis

Analysts are divided on whether the potential NFT liquidation event is a buy-the-dip opportunity. Many owners of precious Bored Ape Yacht Club (BAYC) and CryptoPunks NFTs, who…

The Philippines pushes back against foreign exchanges, continuing a protectionist streak

The Central Bank of the Philippines warns the public against using non-local crypto trading platforms. The pressure on crypto is growing swiftly in the Philippines. After a…

KLAYMETA: The Sustainable P2E NFT Gaming Ecosystem

KLAYMETA is a popular play-and-earn game redefining the boundaries of MMORPG gaming with NFT avatars. This sustainable economy is made possible through several measures, including KLAYMETA’s unique…

Qatari National Blockchain Blueprint Spotlights Benefits of the Technology to Country’s Economy

Qatar’s recently released “National Blockchain Blueprint” has suggested that the technology, combined with a “solid regulatory framework,” can help the country build an innovative information technology (IT)…

Generated by Feedzy