The launch was impressive nonetheless (with some controversy as with everything in the NFT space). Each VOX was priced at 0.0888, and there were 8,888 of them. Everything was sold out in just 8 minutes with an approximate amount of 789.25 ETH ($2,486,942.54) in sales.
What is a VOX?
According to their website, VOXs are “The adorable new collectible series from Gala Labs,” and what’s interesting is that they say that these are “avatars that DeFi.” But what does this mean? It means that owning a VOX will unlock your future ability to earn gaming rewards like VOXCoin, and rarity has something to do with it. The rarer your VOX, the bigger the rewards!
VOXcoin is the coin that your VOX will generate, and it will have the ability to be used across the Gala Games metaverse, and of course, most likely people will create an ETH/VOXcoin pool so you will be able to exchange it for real currency.
But there is an interesting spin in this project; compared to the other avatars out there, you get all the source files of your VOX (FBX) which will allow you to animate them, 3D print them, or use them in augmented reality. It will also technically allow you to use it in any metaverse if you have the technical skills or if Gala Labs develop something to make their use in the metaverse easier.
To summarize some details:
- Fair launch, not that fair distribution (they used passwords): All VOXs cost 0.0888 ETH,
- DeFi utility meaning that you can earn by playing with your asset,
- Source codes where you can let your creativity flow,
- And access to the game.
A Data Rundown
First 3 Hours of Sales
- In its 3 hours, VOX did 2,063 ETH in volume (around $6.5M).
- VOXs were priced on average at 0.5-0.6 ETH, which at the time of writing equals $1,500-$1,900.
- There were multiples sales per hour, as you can see.
Floor After 3 Hours of Launch
- You can clearly see on this image that some of the VOXs are being sold almost 4-6x the initial purchased price.
- There have been some big sales already like this one for 10 ETH.
It’s interesting to see bigger companies in the space doing avatar NFT drops. A lot can be learned from VOX drops to avoid future gas fees wars that don’t really help the end-user. But overall an interesting launch.
Image credit: via Gala Games
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Entrepreneur. Software Engineer. NFTs enthusiast. #NFT