NFT mystery box explained: What is an NFT mystery box and how to buy, open, and sell one.
NFT mystery box contains a random NFT or a rare NFT collectible.
These mystery boxes are available at NFT marketplaces. Some of the popular marketplaces are OpenSea, Binance NFT, SuperRare, Rarible, etc.
Have you ever heard of a “mystery box”? For those who like surprises, a mystery box can be bought online. The mystery box contains elements of surprise that can exceed your expectations or may not be of any value to you.
So, what is a mystery box?
Mystery boxes are sold online in exchange for money. The contents are random and unknown. The main concept is the “element of surprise”. For example, if you buy a mystery box worth $70, you may get contents that are worth $200 or $50.
If you are buying a mystery box of a particular brand, the seller will send you a box that contains items under that brand. If the items do not correspond to the specific brand, then the sale is misleading. Sellers must refund the money to the buyer. If the mystery box does not meet your expectations, then you can return the box and ask for a refund of the purchase money.
Sounds interesting? Here is the good news for crypto enthusiasts. Mystery boxes have entered the crypto sphere.
What is an NFT mystery box?
NFT mystery box can contain a random NFT or a rare NFT collectible. You can keep it or sell it for profit. But if you choose to sell, the mystery box has to be unopened.
Just like other mystery boxes, the rarity and curiosity attract customers to buy NFT mystery boxes.
They first came into the news at the beginning of 2021. Now, many companies are offering NFT mystery boxes to attract customers and jump on the NFT trend. At the mystery box listing, there will be a description and you can get a rough idea of the contents there.
All NFT mystery boxes are not about rare collections. Many companies like Axie Infinity, Metamon, offer gaming items like virtual lands, gaming avatars or characters, skins, etc. For example, in December 2021, Taiko NFT announced the launch of NFC-NEKO, its first collection of mystery boxes. The NFC-NEKO collection of cats resembles real-life celebrities.
The best part of these NFT mystery boxes is that you can sell them or auction them for high prices. If the items are common, the profit margin is less. But for rare collectibles, there is a huge demand and the scope for earning profits. However, you must have an idea about the contents of the mystery box before putting them into the auction. This will help you to attract the target customers to buy the mystery boxes.
How do I get an NFT Mystery Box?
NFT mystery boxes are available at NFT marketplaces. Every day, hundreds of new NFT series are getting released. To keep track of NFT mystery box launches, you can follow Twitter or Telegram pages of the respective brands and look for new releases. Some of the popular marketplaces are OpenSea, Binance NFT, SuperRare, Rarible, etc.
To buy and store NFTs, you need a crypto wallet. The wallet must be compatible with the NFT marketplace. Popular wallets include Trust Wallet, MetaMask, BSC (Binance Smart Chain), etc. You have to add crypto coins to your wallets. To purchase NFTs, you need to add crypto coins that are acceptable in the NFT marketplaces. For example, BUSD, BNB, ETH, etc., are popular coins used for purchasing NFTs.
How to buy an NFT mystery box?
To buy NFT mystery boxes, you have to go to an NFT marketplace. Take Binance NFT mystery box as an example:
Visit the Binance NFT marketplace and log in to your Binance account. If you are not an existing account holder, click “Register” and create a new one.
After you create or log in to your Binance account, navigate the toolbar and go to “Mystery Boxes”.
Then click the “Explore Marketplace” icon.
There will be several unopened mystery boxes. Select and click the mystery box of your choice.
You will 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 pop-up appears to confirm the purchase.
Click confirm to pay and purchase the mystery box.
How to open your mystery box?
Now that you have bought your mystery box, it is time to reveal the contents.
Click the mystery box.
Click the “Click to Reveal” button to open the box.
Next, click the “Open Box” button.
Your mystery box will be revealed. Now you can view the rare artwork or collection you have purchased.
How to sell an NFT mystery box?
Want to earn some profits from your mystery box? You can sell your unopened mystery box in an NFT marketplace.
Here are the steps:
Go to the NFT product page and click the “List NFT” icon.
The product page will redirect you to the listing page.
Now, if you want to sell your NFT in an auction sale, there are three options:
For auction sale, choose the “Highest Bid”
Select and input a price in the “Minimum Bid”.
For direct purchase, input a price in the “Buy-out Price” section.
If you do not want an auction sale, you can select the instant sale option and choose a “Set Price” for direct sale to the buyer.
Set a sale value in the “Price” section. For payment, you can choose ETH, BNB, or BUSD.
Choose a selling date. The sale date is confirmed once the mystery box is listed. It can be anywhere between 12 hours to 7 days.
After setting, click “Submit” to confirm the sale.
An element of surprise
In 2021, we saw the popularity of NFTs surging. With NFT mystery box, they bring an element of surprise of receiving a random NFT. Moreover, it gives a chance to receive a super rare NFT at a fairly low cost. All these elements mixed together are leading to the rising popularity of NFT mystery boxes.