What if you had keys to the metaverse?
Think of the Matrix of gaming metaverses. No wars, factions, politics, power plays, and all–just avatars and opportunity to make a fortune for NFTs.
And it, after all, makes sense since NFTs–as an exciting innovation anchored on transparency — would command billions in years to come.
To estimate just how bullish analysts are, we can make projections from DeFi, and how it quickly morphed into a multi-billion-dollar industry commanding over $170 billion as TVL.
NFTs would explode and the opportunity will be presented to those who envisioned the future and positioned themselves strategically before the hysteria that comes with FOMO.
Of the many projects that look to enhance efficiency and allow for the free movement of valuable digital items is the MetaKey project.
What is MetaKey?
Understanding what MetaKey is appreciating the creators’ efforts of implementing a protocol to promote interoperability and interconnectedness in NFTs.
MetaKey is a token that can be used across multiple platforms and can transform into almost anything useful within an NFT ecosystem or protocol.
Since the MetaKey primes the NFT ecosystem, it exists as an NFT card.
This way, collectors can acquire and use it to access NFT protocols across the growing metaverse.
A MetaKey, the project explains, can be an avatar, an in-game item, exclusive game perks, virtual land, course material, and quite literally any file minted as an NFT, freely residing in the blockchain.
A Master Key for the NFT Metaverse in Ethereum.
Based on what the creators have in mind, it is evident that the project aims to experiment and specifically explore everything possible in NFTs riding on the blockchain.
The MetaKey is the “master key” NFT providing access to near unlimited perks and experiences across the rapidly growing NFT sphere.
The objective here is to make MetaKey have as many use cases as possible, meaning cardholders can toggle between platforms.
For example, a MetaKey can unlock a helmet in Decentraland and be a special sword (an in-game item) in Sandbox, and so much more.
In all, as of now, one MetaKey grants the holder access to various perks across Decentraland, Sandbox, Somnium Space, and Cryptovoxels.
This transformation is essential considering the increasing popularity of NFTs and the impact it has on gaming.
MetaKey Versions—Sold Out in Minutes
There are three editions of MetaKey—all of which instantly sold out.
Holders of any version of MetaKey have access to perks in the partnering ecosystem.
Thus far, there are over 30 partners.
However, the list will continue growing as more projects pick out the advantages they will have by integrating MetaKey into their systems.
A MetaKey can be bought from OpenSea.
NB: Edition 3 drops were instantly sold out. According to the platform, the fourth edition of MetaKey is set to be released.
It should be noted that the release versions of MetaKey—Edition 1 to 3—are the Collector Editions with comparatively lower supply—and therefore much sought after as they are rare.
There were 500 pieces under “The Genesis” available for 0.2 ETH in partnership with digital artist Alan Bolton—an Irish digital artist residing in Tenerife, Spain, “The Artifact” had 750 pieces selling for 0.20 ETH done in collaboration with RTFKT Studios, while the third edition, “The Ultimate“—in partnership with artist Marc-O-Matic minted 1k NFTs selling at 0.20 ETH—sold out in 24 minutes.
Edition 4 release, for instance, would be the normal edition. The Normal Edition drop will have 5,000 pieces selling for 0.2 ETH at Rarible.
MetaKey has also stated that the total supply will be unlimited. All the same, the team will continue adding more perks, striking more partnerships, introduce more discounts, issue more airdrops, and release more integrations for MetaKey holders.
Presently, there are 1.4k owners of MetaKey versions with a floor price of 6.3 ETH, according to data from OpenSea.
All MetaKey NFTs were distributed via OpenSea.
At this price, MetaKey pieces are liquid with trading volumes of 3.7k ETH. Interestingly, MetaKey version 2–“The Artifact” are pricier with a base price of 7.47 ETH—or over $23k at spot rates.
MetaKey Team
The founder of MetaKey is DCL blogger, an NFT collector.
After launching in May 2020, they released the first three editions in partnership with RTFKT Studios, Marc-O-Matic, and Alan Bolton.
Due to the success of the drop and the project, the founder has stated that his goal is to promote NFT interoperability by integrating different projects, making it part of the expanding NFT metaverse in Ethereum. MetaKey is, therefore, a practical solution allowing people access to NFTs.
He notes that holding a single MetaKey is equivalent to having several assets in different NFT metaverses.
With the NFT ecosystem expanding, the team has partnered with several projects. Notable partners include Automobilist—a specialist of NFT race cars—out of which holders of MetaKey received a racing helmet NFT through an Airdrop, Sandbox, Decentral Games, Somnium space, OpenSea, Polygon, and others.
MetaKey Catalysts
- MetaKey team is targeted, focusing on practicality to make interaction with NFT protocols easier. Over time, this will directly feed demand for all releases, benefiting “key” buyers.
- MetaKey is a project by a known NFT collector—and his effort is to drive and promote NFTs—an exciting field that’s yet to be fully explored.
- History can guide the future. All three editions are completely sold out. Though the third edition had the highest supply of 1k tokens, they sold out in less than 24 minutes via OpenSea. The next drop will be at Rarible—supply will be 5k pieces, but the price isn’t set. Most likely, due to the success of the previous edition, it might be priced higher.
- MetaKey aims to connect NFT protocols in Ethereum—at first. However, there is no dismissing the fact that as NFT grows and develops in other ecosystems like BSC and even Cardano, links would be made to those active networks. This will only serve to increase the exposure of MetaKey—and thus its keys.
- All three editions sold out at 0.2 ETH. Less than 15 months later, the floor price of each piece stands at 6.3 ETH–over 20X rise in valuation—or ROI for holders.
- More partners, mainly in NFT, are joining hands with MetaKey, aware of the benefits of interconnectedness and game fluidity. Decentraland, Sandbox, Polygon, and more are an example of high-profile projects backing the NFT project.
- The team continues to build with immediate plans to integrate Decentral Games, create a private content dashboard, enable virtual land purchase, and more. With more integrations and utility, MetaKey will continue to make waves—a reason why its Edition Four release might sell out even faster despite the relatively high supply.
- The more projects partner, the more the perks MetaKey holders receive. From airdrops, discounts, and other valuables from partner companies, there are attractive benefits of purchasing these NFTs.