What Is An NFT Mystery Box?

An NFT mystery box consists of a unique random product. Many buyers are ready to pay a fixed amount without realizing the product until they open the mystery box. Most buyers wonder why anybody would buy such a thing when they don’t have any idea about what’s inside. 

Like opening a gift, buyers expect to get a rare or special product at a relatively small amount. The curiosity and expectation attract people of all ages. You can also consider mystery boxes like an advanced version of fun treat or surprise chocolate eggs you have had in your early days. 

Usually, these chocolate eggs have a toy or any other surprise in a capsule. Before opening it, you don’t know what’s inside it. You may not or may like the gift, but that little surprise makes you thrilled about it. 

NFT Mystery Box has the same functionality, except that you don’t receive a delectable chocolate shell, plus the number of boxes is restricted. The trend of mystery boxes has appeared in the cryptocurrency world with the rise of the NFT marketplace in early 2021.

Today, plenty of companies are launching limited-edition mystery boxes containing NFTs of various levels of rarity to attract their buyers. 

Presently, there are hundreds of thousands of mystery boxes available out there. When you purchase it from a collection, you can have an idea of the product inside it by reading its description. Some blockchain games, like Metamon, DeHero, and Axie Infinity, give you unique in-game products in mystery boxes. 

These limited NFT products can be skins, virtual lands, characters, or other collectibles. The NFT within the mystery box might astonish you. Since the usual NFTs could rapidly lose their value after the first sale, the unique NFTs can only value more than their price tag if there is a huge demand. If you are fortunate to explore these very demanded mystery box NFTs, you can quickly sell them in auction houses or NFT marketplaces.

Where can you receive an NFT mystery box?

Multiple NFT collections are available in the cryptocurrency marketplace, and you can buy them from various platforms. Every day, there is new NFT series launching, so the perfect way to get new mystery boxes is through the best NFT marketplaces, such as SuperRare, Rarible, OpenSea, and the Binance NFT Marketplace.

A few NFT marketplaces team up with famous brands to regularly launch mystery boxes. To purchase a mystery box on the Binance platform, you will first have to create your account. If you already signed up, you can use your account to buy an NFT mystery box without creating a new account. 

To buy on other platforms or keep your NFTs, you will require a crypto wallet on Ethereum networks or Binance Smart Chain (BSC), based on the marketplace you’re using. You can choose from wallets like Binance Wallet, Trust Wallet, and MetaMask. Buying NFT mystery boxes typically needs BUSD, BNB, or ETH. 

How to buy a Mystery Box on Binance NFT

Follow these steps to buy a Mystery box on Binance

  • Visit your Binance NFT app and log in to your binance account. If you don’t have your account, you will need to create one first. 
  • Now click on the option Mystery Boxes. Then look for the options Explore Marketplace, and you will be redirected to the available Mystery Box Market.
  • Choose the filter Unopened for finding sealed NFT mystery boxes of your preference. 
  • For instance, you will find VOGUE SG MYSTERY BOX. Click on it to visit the product page.
  • You will now discover more information regarding the NFT mystery box, comprising the expiration date, price, description, and other information.
  • For instance, you can click on the option “Series Content” and see the NFT rarity ranking, such as the chance to get a “super rare mystery box from the box. 
  • Now, click on the “buy now” option to purchase the mystery box. A pop-up will appear with the details of your order. Click on the confirm option to confirm your purchase.

How you can open your NFT mystery box

When you buy your mystery box, it will get saved in Collection – Mystery Boxes menu.

  • Click on the option “mystery box” and enter the product page
  • Now, click on the option “click to reveal” for opening it
  • You will get a pop-up saying “Open Box” click on it
  • Then you will spot the artwork, which will be saved in Collection – Mystery Boxes.

How to sell a Mystery Box on Binance NFT

You can prefer selling the unopened boxes or the NFTs you have received from them on your Binance NFT Market. 

  • Go to the product page and click on List NFT.
  • You will reach the product listing page. If you want to sell it at auction, select the “Highest Bid” option. In the “Minimum Bid,” you can type the initial price for your product listing. Also, you can add a “Buy-out Price” to make a direct purchase. If you want to have a quick sale without bidding, you can choose the option of “Set Price.”
  • Then you will notice a “Price” section to select how much you demand selling your NFT. You can refer to get BUSD, BNB, or ETH as payment. 
  • Select a finish date for your sale and agree on the terms and click on submit.

How to withdraw an NFT from Binance

Presently, the Binance NFT market doesn’t give the withdrawal option of NFT mystery box. In its place, you will require opening your mystery box, and after that, you can withdraw your NFT.  

  • Once you open the mystery box, visit the option Collection-Boxes and then click on your preferred NFT that you want to withdraw. After that, click on Withdraw option on the NFT page. 
  • Now, choose the preferred wallet network, and add the Destination Wallet Address. If you have not linked any wallet, you can click on the option “Add a Wallet.” You will go to the Connect Wallet option. 
  • At last, verify that your chosen blockchain network is compatible; otherwise, you might lose your NFT.

Conclusion

Since the volume of NFT trading keeps surging, mystery boxes can be an excellent way to begin getting engaged with NFTs. The notion of surprise, plus the possibility to receive rare NFT artwork at a reduced price, will keep these boxes’ buzz going.

Author: admin