Yesterday, 11th August, saw the Ethereum network kick into overdrive thanks to the launch of Gala Games VOX. The brand new collectible series spurred on gas wars that saw fees hit 500 Gwei, which according to reports means the drop has burned at least 600 ETH.
Each VOX was priced at 0.0888, and a total of 8,888 were minted. In the latest sign of just how much demand there is for avatar NFTs, the collection was gone in 8minutes. Estimates put the overall sales revenue at 789.25 ETH, which is $2,486,942. Not bad for less than ten minutes of activity.
What are Gala Games VOXs?
This is the question on everyone’s mind today given the headlines. As per the company’s own description, the drop featured an “adorable new collectible series from Gala Lab”. Unsurprisingly, the characters each have different traits, clothes, accessories, and more, with these attributes determining their rarity. So far so nothing new in terms of this type of collection, but the project does have some unique aspects.
First up — DeFi. Simply put, Gala Games proudly states that VOXs are “avatars that DeFi”. This means that by owning one of the avatars you create future earning opportunities. For example, VOXCoin, which can be used across the entire Gala Games metaverse.
You can also create an ETH/VOX pool, allowing earnings to be exchanged for real currency. And that’s not all. Anyone buying a VOX also receives all source files, allowing them to animate, 3D print, and use their character in augmented reality.
This is far from the only impressive sales results from an NFT collection of this kind. We’ve seen the likes of Bored Ape Yacht Club and CryptoPunks reach incredible values. However, due to the additional earning and usage aspects of the VOXs, we’d say this represents a strong approach to the collectible model and one we expect to see much more of in the coming months.