NFT Paper Hands on Ethereum

In this dashboard, I will focus on NFT Project called 'MEKAVERSE'. You might have heard of this as it is one of the HYPE-iest NFT in 2021 leading to its minting day. MEKAVERSE is definitely one of those buy the rumor, sell the news event. There was maybe too much hype surround the project leading to its release but the final product was just meh. I will show the top 100 of most paperhands Mekaverse token. They use raffle system for minting and announced the winner on early October.

In top 10 most paperhand sales by price difference in $ETH, we can see most of them only held for 3-6 days except for 1 guy that held for 20 days, which is actually even more painful. On average, these top 100 paperhand sales has sold at ~3.9 ETH loss which is equivalent to ~18,000 USD today and average day held is 5.9 days (smh).

On average, these paperhands sold their Mekaverse at around ~ -4 $ETH or ~ -12000K USD loss. Simply NGMI. So, in conclusion, project that are build on hype won't survive. There were also plenty of rumors about how shady the project are, like backdoor deals etc. So, always remember to DYOR before getting an NFT because most of the time it is just quick cash-grab.

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NFT Paper Hands on Ethereum