They came out of nowhere… the Mekaverse robots. Looking like metallic insects and inspired by the Japanese robots of sci-fi legend, the project’s NFTs rapidly invaded OpenSea’s charts and conquered all before them. But they did backslide in the days since the reveal.
In a vivid example of the volatility in the NFT space, Mekaverse’s NFTs hit 20,861 ETH, or $81M, on Oct. 15. The project led the second highest project, Mutant Cats, by a whopping 14,459 ETH.
The floor topped out at 8.49 ETH on Oct. 10 according to a Dune Analytics NFT Dashboard. Yet now it has fallen more than 71%, to 2.41 ETH as of Oct. 15 and after the reveal. The floor dropped severely by almost three ETH on Oct. 13, the day of the reveal.
What’s behind the wild action? Mekaverse’s internet presence provides a clue: The project boasts over 250,000 people in its Discord and over 200,000 followers on Twitter. For contrast, the Cryptoadz NFT project, which has recently been catching headlines, has 12,500 Discord members and 18,000 Twitter followers.
Mekaverse revealed the looks and traits of their NFTs on Oct. 13. The reveal came after a minting event on Oct. 7, which allowed users to mint more than 8,000 of the NFTs (the project’s website says there are 8,888, though Etherscan shows 8,593).
The floor topped out at 8.49 ETH on Oct. 10 according to a Dune Analytics NFT Dashboard. It has since dropped to 2.59 ETH as of Oct. 15 and after the reveal. The floor dropped severely by almost three ETH on Oct. 13, the day of the reveal.
The price for a Meka is $443,000, a to-be revealed so-called legendary NFT, according to nft-stats.com. Meka number 3489, a silver and purple figure, fetched the second highest price at $212,000, again according to nft-stats.com.
Despite the momentum, there was some controversy about the launch. A user on Twitter who goes by MOLOTOV, reported that during the minting of the NFTs and before their traits and rarities had been revealed, a co-founder of a smart contract and website development studio bought the 19th highest rarity Meka.
To MOLOTOV this indicates the Mekaverse reveal was “rigged,” with some users having inside access to the specifics of the NFTs before the reveal.
The two artists behind Mekaverse, who go by Matty and Matt B., did not immediately respond to Twitter messages.