Platform Deals with Counterfeit “Tribute to KAWS” NFT Mystery Boxes Following a Premium of 900% in the Secondary Market
Sep 18, 2021
On September 16, data from Gate.io NFT Magic Box showed that “Tribute to KAWS” NFT mystery boxes, which were launched by APENFT Foundation on September 15, were embraced with enthusiasm by NFT fans in the secondary market after the first 75 boxes were sold out in seconds. These boxes were traded at 900 USDT in the secondary market at a premium of 900% over the original price. Even the lowest closing price reached 100 USDT, a premium of 100%. This series of mystery boxes is the most trending among all Gate.io NFT magic boxes.
The second batch of 75 mystery boxes was unlocked at 14:00 on September 16 and sold out instantly. The third batch of 75 mystery boxes will be on sale at 14 pm on September 17. Users can log into the Gate.io NFT Magic Box platform (https://www.gate.io/nft/mystery_box/72761) and snap one up.
It is reported that the series of mystery box sales will continue until September 26. Altogether 1,000 mystery boxes of four levels (N, R, SR and SSR) will be sold in two stages. The first stage is from September 15 to September 22. During this period, 75 mystery boxes will be put on sale and unlocked at 14:00 every day, totaling a number of 600. The second stage will run from September 23 to September 26, during which 369 mystery boxes will be put on sale. The selling price of this batch of 969 mystery boxes is 50 USDT, whereas the remaining 31 boxes will be sold in the form of open bids.
So far, two batches of “Tribute to KAWS” NFT mystery boxes have been unlocked. More than 50 have been traded in the secondary market since the first batch of 75 were sold. However, the popularity of this series has led to its counterfeit.
On September 15, Gate.io NFT Magic Box made an urgent announcement, stating that counterfeits of “Tribute to KAWS” NFT mystery boxes started to appear in the market after the launch of this series. IDs that are known to have violated the rules have been banned for 30 days; users who traded counterfeits “Tribute to KAWS” NFT mystery boxes will have their transactions withdrawn and get their refund. An announcement on how to tell counterfeits from legitimate boxes is issued as well.
According to the official announcement, transaction risks can be lowered when users purchase “Tribute to KAWS” NFT mystery boxes at officially recognized Gate.io NFT Magic Box. In addition, users can distinguish the validity of a “Tribute to KAWS” mystery box based on the following three characteristics.
The first step is to look at asset description. The creator of the original edition must be “NFT Magic Box Assistant” whose level is VIP1 and has an NFT Magic Box as avatar. The second step is to look at the content of the box. Official mystery boxes include box number, rarity, and level of popularity. These content cannot be copied or plagiarized. The last step is to see whether the price is a fixed one, details of which can be found in the official announcement. All boxes with a price lower than the official price are counterfeits.
Given the actual popularity and value, many insiders from the industry speculate that the “Tribute to KAWS” series is likely to become the most popular and valuable NFT mystery boxes this year.
Company: TRON
Contact: Edison Jing
Email: [email protected]
The post Platform Deals with Counterfeit “Tribute to KAWS” NFT Mystery Boxes Following a Premium of 900% in the Secondary Market appeared first on TheChinaBox.
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