NFT Mystery Boxes: What Are They & Are They Worth It?

cryptonews.com:

The non-fungible token (NFT) market has drawn equal admiration and controversy among people interested in making money in the digital realm. Arguably one of the most peculiar products on sale in this market are NFT mystery boxes.

Read on to find out what NFT mystery boxes are and whether they are worth purchasing by an NFT collector looking to generate a return on investment. 

NFT mystery boxes contain a random but unknown NFT or set of NFTs with different rarity levels from a specific NFT collection. 

Collectors can find NFT mystery boxes and try their luck at scoring particular rare NFTs on marketplaces such as Binance NFT and OpenSea. 

Given their rarity, collectors may choose to keep their mystery boxes unopened and sell them for a profit to a willing buyer without ever opening the box. 

The value of NFT mystery boxes lies in the anticipation by each buyer of what they are likely to receive when they open the box they bought. While the sense of adventure may rub off well onto some boxes, realistically, it fails to extend to all NFT mystery boxes. This is the reason for the variance in value from one mystery box to the other.

NFT mystery boxes’ allure comes from collectors not knowing what they will be getting. 

Collectors can sell their box without opening it or opt to open it to see if individual NFTs contained inside are worth more than the entire mystery box. 

The buzz around mystery boxes emerged in 2021 during the NFT market boom. Various companies now issue mystery boxes to potential clients to draw their curiosity as they anticipate what surprise or mystery they will uncover. 

For example, Vogue Singapore partnered with NFT platform Brytehall and NFKings Productions to release NFT mystery boxes with artwork showing