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Dave
Metaverse Project Stumbles to Finish Line, Announces $240-$960 Price Point
  • Posted by Dave
  • Posted on November 5, 2021, 8:57 pm NST

UPDATE, 11/6: SOL has reached a value of 1 SOL = $250 USD! That means the price for Neopets NFTs can range from $250 up to $1,000 each! In all likelihood, the cheaper NFTs will be snatched up by autobuyers, so any supporters of the project will be stuck purchasing at highly inflated prices.




Big news late this Friday evening: the Neopets Metaverse is finally launching on November 12th at 9:00 UTC (aka 1:00 AM NST for us Neopians)—only a month behind schedule.

However, the bigger news: each NFT will sell for up to 4 SOL, which at time of writing would convert to ~$960 USD.

The number of NFTs have also been severely cut, with now only 10,500 on offer (with 500 of those being reserved for giveaways). Prior to today's announcement, there were plans for 20,500 NFTs. It's unknown exactly why the number on sale has been cut in half, but our speculation is that it's due to either production troubles or fear that they would not sell out. The Metaverse team has said a few times during the project's delay that they were encountering issues producing the NFTs. (And most of the samples they've posted have had graphical issues.)

Here is the exact pricing breakdown. It will be a race to buy the NFTs as quickly as you can, as the more that sell, the more expensive they become:


In other words, the first 250 sold will sell for 1 SOL, and then the price increases to 1.5 SOL for numbers 251 through 750. If all 10,000 sell, that will be 26,750 SOL (which at time of writing is ~$6,393,250 USD).

The sale is slightly convoluted. You must buy tokens called "NMC" and then each NMC can be used to mint one actual NFT. So, (a) convert your local currency to SOL (Solana) cryptocurrency; (b) use SOL to buy NMCs; and then (c) use your NMCs to mint NFTs.

The project was also slated to sell NMCs on the Raydium DropZone via a lottery-esque system. But instead that plan is being axed to instead use a more "bespoke" system that is on a "first come first serve basis." (Which the NFT community is concerned about, as it means bots can come and buy out the supply. In Neopian terms, it's like autobuyers buying all the good stuff when restocking.)

At this point, the changes being made to the project mean little to us Neopians, but it seems that the Metaverse team is working overtime to upset the actual NFT supporters by inflating the price and removing the promised method of fair distribution.

(Here at JN, our mouths are still agape about how much we underestimated the price on our free NFTopets!)

Will you be purchasing any of the NFTs for 4 SOL? Let us know in the comments!



REMINDER: Free NFTopets Say Goodbye
Bad news! We've decided that our free NFTopets project has run its course, and we will be shutting down our NFTopet server on Sunday, November 7th Thursday, November 18th. (We're pushing it up a bit to align with the grand finale of the Neopets Metaverse project.) That means your NFTopets will no longer be accessible, so make sure you right click and save as if you're attached to any of them. Don't worry, your NFTopets are still yours! We're just not going to show you what they look like anymore! (We're staying true to how many NFT projects run their course.)


Our anti-Neopets Metaverse landing page will remain up and accessible at jellyneo.net/nfts. We just won't be allowing the minting of new NFTopets after the 18th.
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