What are NFT Mystery Boxes?

Walking up to a toy vending machine and seeing hundreds of trapped goodies in plastic, egg-shaped containers is an exciting experience for people of all ages. Every pull—especially if it is the prize desired—fuels up a giddy feeling similar to winning the lottery or a jackpot prize. Now, how about taking this concept and applying it to non-fungible tokens (NFTs): Can you imagine having to do the same?

NFT Mystery Boxes execute the same idea of traditional vending machines. Major companies and brands would collaborate with major NFT curators like Binance NFT to sell mystery boxes. Each box contains different NFTs—even its rarest, most valuable pieces—from the company holding the event. The price value of each box is the same unless placed on a bid. Bidders would have to give the highest bidding to be able to acquire the box from the auction.

The content of each box can only be revealed when the owner decides to unbox the mystery box, thus the NFTs will be added to their collections. Owners have the option to sell their unopened mystery box to the market.

Last January, Mobile Legends: Bang Bang held their first NFT launch with Binance NFT and all mystery boxes were sold out in minutes. The collection contained 25,000 mystery boxes and owners could only acquire 10 boxes each.

Aside from Binance, NFT mystery boxes are also sold in Rarible, SuperRare, and Opensea.

If the excitement of being surprised by what a mystery box contains is a thing for an NFT enthusiast, then better look for these mystery boxes at the Binance Marketplace and start unboxing. 

In conclusion, Mystery Boxes may be risky but who does not want the adventurous take on minting one? Relive the joy of opening a box full of surprises virtually.

This article is published on BItPinas: NFT FAQ: What are NFT Mystery Boxes?

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.