What Are NFT Mystery Boxes and How Do They Work?

Most people love a good surprise especially when it is a rare non-fungible token. One of such surprises can be found in an NFT mystery box. Similar to a physical mystery box, an NFT mystery box contains a random NFT. For better understanding, let's look into what NFT mystery boxes are and how they work.

What Are NFT Mystery Boxes and How They Work

Mystery boxes are boxes containing a special random product. An NFT mystery box contains a random NFT which is from a collection that is only revealed when the box is opened. The box comes with a fixed price which buyers are willing to pay without knowing the content until the box is opened.

The reason why some people would want to purchase such a product without knowing its content is that they are hoping to receive a rare or special product at a relatively low price. Curiosity and expectation are things that attract buyers of all ages.

NFT boxes in most cases will feature non-fungible tokens with different levels of rarity. A lucky buyer can get a super rare NFT that sells for millions of dollars. On the other hand, the buyer can also get a common NFT that fellow owners of mystery boxes possess in their collection.

Types of NFT Mystery Boxes

It is amidst the boom of the NFT in the early months of 2021 that the mystery box buzz emerged in the crypto space. Presently, many companies are issuing limited-edition mystery boxes whose contents are NFTs of different levels of rarity. They are doing this to surprise customers.

In the current market, there are thousands of NFT mystery box series available. When you purchase an NFT mystery box from a collection, the description on the box can give you a hint of what you might get. In some cases, you see the odds that you have in getting each type of NFT.

The content of NFT mystery boxes is more than just artwork. Blockchain games like Metamon, DeHro, and Axie give players scarce in-game items in their mystery boxes. These rare NFT assets can be virtual lands, characters, or other collectibles.

As long as there is demand for the rare NFTs, their value may increase beyond their price tag. This is unlike common NFTs whose value could depreciate after the initial sale. If you are lucky to own a highly sought-after mystery box NFTs, you can sell them on auction houses or NFT marketplaces.

Sources of NFT Mystery Boxes

There are several NFT marketplaces where you can purchase thousands of NFT collections. NFT series keep emerging at breakneck speed and they can be found at top NFT marketplaces like OpenSea, Binance NFT Marketplace, SuperRare, and Rarible.

Some well-known brands are known to team up with NFT marketplaces to routinely offer mystery boxes. For example, NFT surprise boxes with artwork showing sunrises from around the world were released by Vogue Singapore in 2021.

Furthermore, to purchase an NFT surprise box on a platform like Binance, you must open an account. If you already have an account, you do not need to open another one before buying NFT mystery boxes. All that is required is that you have Binance Wallet. Other excellent wallet options to buy NFTs on other platforms are Trust Wallet and MetaMask.

Conclusion

Purchasing an NFT mystery box can be a great way to get involved with NFTs as the NFT trading volume continues to surge. What keeps the hype going is the element of surprise and the opportunity to get rare NFT at a lower cost. As a buyer, you can make thousands or millions of dollars if you get lucky.