One of the hottest NFT projects in October saw huge sales before the images were revealed to holders. The project has also been the subject of controversy and is seeing demand ween. Here’s what you should know about MekaVerse.
About MekaVerse: A non-fungible token project featuring 8,888 NFTs, MekaVerse features robot style artwork known as Mekas.
Even before mint, MekaVerse became one of the most in-demand NFT projects of all time. The project attracted over 200,000 followers on Twitter and a Discord of over 200,000 members.
The project offered its Mekas for sale via a random draw lottery at a price point of 0.2 Ethereum ETH/USD each.
A raffle was held where users could enter a line for the rights to mint one or two Mekas for 0.2 ETH each. The winners were unveiled on Oct. 7 and then had six hours to mint.
Huge Demand: MekaVerse reports that it had 172,876 wallets register for its raffle, with 115,931 selecting the option to mint two and 56,945 selecting the option to mint one. The company’s website had over 4.6 million views and over 661,000 unique users during the raffle event.
MekaVerse averaged sales of 7.1 ETH before the reveal, with numerous sales happening in the 5 ETH to 10 ETH range and a floor staying steadily above 5 for 24 hours.
MekaVerse has a sales volume of $75.5 million over the last seven days. The project trails only Axie Infinity for NFT sales volume in the last week, according to CryptoSlam.
MekaVerse ranks 12th all time for NFT sales volume.
The current floor price for MekaVerse is 1.875 Ethereum, significantly lower than the pre-reveal and immediate price action.
The most popular and highest valued Mekas are full silver limited to 11, full gold limited to 7 and brick material similar to LEGOS limited to 86.
Problems Around Project: MekaVerse saw several delays in revealing the images, which led to the project losing some of its momentum. The company announced it would reveal images on Oct. 10 or 11 and then postponed to Oct 12. Another postponement saw images being officially revealed on Oct. 13.
A new controversy surrounding the project is concerning the release of meta data to some of the development team, according to Decrypt.
A person from Minded Studio bought one of the rarest Mekas prior to the reveal at the average floor price. Minded Studios had access to the meta data, but all parties involved claim the data was not available at the time of the purchase.
MekaVerse has also been criticized for its NFTs lacking visual randomness, with some having only slight color swaps and small details differentiating them.
“It was not easy to launch a project of this size! That is why we are working to have more people on our team, and we are looking for competent people to help us carry out our project!” the company said in a twitter thread.
What’s Next: MekaVerse has offered up details of several airdrops coming to people who hold the NFTs.
This includes Meka Swords, the first airdrop coming from the team to anyone who owns a MekaVerrse Meka. The second announced airdrop will be a Meka Bot, according to the company.
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