What's a NFT Mystery Box?
By SimpleHold
May 03, 20224 min read
If you are an active video gamer, you have probably met such a thing as loot boxes. In games, they are found in various incarnations: eggs, chests, card boosters, etc. The essence of loot boxes is as follows — the player buys a box and receives a random reward: skins, weapons, unique features, clothes, or a character. This system is very popular among video game developers because it introduces a certain element of excitement for users and allows developers to earn additional income.
With the development of blockchain gaming and the introduction of NFTs, the loot boxes were modified and received a new name — NFT mystery boxes. However, it is worth noting that NFT mystery boxes are not limited only to blockchain games, many of them include digital art objects. Thus, by opening an NFT mystery box, the user receives an NFT from a specific collection. It is logical to ask, “Why buy a mystery box if I can just buy NFT?”. Well, by opening the box, you never know which NFT you will come across. You pay a set amount, open the box in excitement, and get a random NFT. This can be either a common and inexpensive NFT or a super rare NFT sold for a jaw-dropping amount. The opportunity to get something scarce for a relatively low price makes NFT boxes so desirable.
Against the background of the NFT boom, many projects began to produce mystery boxes. For example, game projects like Axie Infinity or Metamon released boxes in which users can use various in-game assets — skins, weapons, land, characters, and so on. Other projects allow users to get unique digital art objects presented in the form of NFT. In addition, users can purchase a mystery box and become the happy owner of a unique melody.
How To Buy A Mystery Box?
You can try your luck and buy your first mystical box on open marketplaces — Binance NFT, OpenSea, Rarible, and others like them. It’s great if it turns out to buy out the NFT box faster than the rest, and they buy them up very quickly. Otherwise, the NFT mystery box owner can put it up for sale or auction at a much higher price.
Often, by opening the description of the mystery box, you can get an idea of the items that you can get by opening the box, as well as the percentage probability of getting a specific item.
In order to buy an NFT mystery box, you need to choose a marketplace. Keep in mind that boxes are sold out very quickly on popular marketplaces, so the chance to get it at the initial price is minimal. Buying a box from other users, you either pay a fixed amount or participate in an auction and place bids.
Depending on the specific marketplace, the instructions may vary slightly, but in general, it is as follows:
- Create or log in to your account.
- Connect a supported wallet.
- Select the NFT mystery box.
- Open the product page and read the description of the box.
- Buy an NFT box or place a bid if it is being sold in the auction mode.
After receiving your new mystery box, you can open it or put it up for sale. Moreover, you can open it and put it up for sale.
What To Do With The NFT Mystery Box?
Having received your new mystery box, you can decide its future fate. You can open the box and finally find out what is there or send it further to surf the expanses of the marketplace and look for its next owner. Moreover, if you can’t restrain your curiosity, you can open a box and sell it. As you probably already realized, you can sell the box at a fixed price or by auction. When selling a box at an auction, you can independently set the starting and buy-out prices, as well as the duration of the auction. Just don’t get cheap because if you have a mystery box from a well-known project, its price can reach hundreds, thousands, and even millions of dollars.
Conclusion
The price of some NFTs is estimated at millions of dollars, so not everyone can afford to purchase such an asset. In this regard, a mystery box is a real opportunity to get a rare token and sell it for fabulous money. And if luck isn’t on your side, do not rush to get upset and sell NFT; let them remain on your balance. Who knows how much they will cost in 2-3 months or years.
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