“Mekas are the latest NFT craze. Bidders drove sales into the millions for the mech suit NFT collection — sight unseen.”
This subheading greeted readers of Coinbase’s (NASDAQ:COIN) e-newsletter this morning. For anyone concerned with the constantly evolving world of non-fungible tokens (NFTs), it was likely the most interesting headline of the day. For other members of the NFT community or for anyone concerned with financial markets, it likely sparked some confusion.
As an investment vehicle, NFTs are evolving so fast that it can be hard to stay on top of the market. So, let’s break things down.
MekaVerse (Mekas) NFTs are the hottest topic of the day, as evidenced by the fact that they’ve been selling for as much as $20,000 a piece and if you’re trying to make sense of them, you’re not alone.
For an NFT project to achieve sustainable success, the best formula for its creation is to employ a focus on both the digital and real worlds. As NFTs have grown in popularity and captured the public interest, it has become increasingly clear that the inclusion of a physical attribute makes them more desirable to potential investors who often approach purchases with a collector’s mindset. Because they live at the intersections of digital art, collectibles and utility-based tokens, NFTs have demonstrated an ability to appeal to a wide range of investors that traditional stocks and bonds have not. This is likely what has driven the Mekas frenzy that we’ve seen today.
So, here’s everything else that you need to know about them.
MekaVerse (Mekas) NFTs: What to Know
What is a MekaVerse (Mekas) NFT? According to its website, the MekaVerse is defined as “a collection of 8,888 generative Mekas that draw elements from the Japanese Mecha universes.” The idea stems from a strong interest that the NFTs’ creators had in Japanese culture and anime.
To be more specific, the MekaVerse consists of four distinct factions: Originals Meka, Mirage, F9 and Gadians. Owners of a MekaVerse NFT can join any of the four.
The site also states that “Each artwork is original, with its own color palette and creation. The objective was to make each Meka unique in order to prioritize quality above quantity.” The creators told Forbes that “The goal was … made easy by the number 8,888,” the number produced for this collection.
As is often the case with NFT investments, MekaVerse holders received exclusive benefits. For the 5,400 owners, as of this writing, this meant access to exclusive events on Discord and Twitter, as well as others.
MekaVerse trading began with a bang this month. On Oct. 7, over 120,000 people tried to register on MekaVerse.com to mint Mekas. Trading was done on NFT marketplace OpenSea and within 24 hours, the total trading volume was “13,900 ETH, with a floor price of 5.1 ETH and 8,593 total Meka minted,” according to CoinMarketCap.
In the Forbes interview, the creators stated “MekaVerse is an ongoing long-term project, and we have a lot of exciting things in the works for the future including physicals.” This is said to include 3D-printed physical artifacts that will be included with future purchases.
The recent MekaVerse rush did not rely on any paid promotion following its launch on Discord. It quickly captured the attention of some prominent social media influencers, though, demonstrating the public’s fascination with NFTs.
NFTs have garnered criticism for their negative environmental impact. The team behind the MekaVerse, though, wants to prioritize more eco-friendly practices as their work within the field expands.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.