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Yuga Labs Sparks Excitement Among Fans With HV-MTL NFT Minting

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Category

News - Archive

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

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yuga labs hv-mtl

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Yuga Labs, the company responsible for the Bored Ape Yacht Club non-fungible token series, has initiated the minting process for the following phase of its skill-dependent online game, Dookey Dash.

“The Summoning” process was initiated on Wednesday for users who claimed a Sewer Pass in January. Eligible players were invited to participate, allowing them to burn their Sewer Pass token to mint a new NFT in the HV-MTL (heavy metal) collection. This 30,000-unit collection comprises “mechs,” which bear a resemblance to robots.

In the hours following the collection’s release, the tokens’ secondary market value has already skyrocketed. According to data from the NFT marketplace OpenSea, the collection’s floor price is roughly 2.5 ETH, or approximately $4,000, and its trading volume exceeds 4,850 ETH, which is worth over $8 million at current ether rates.

The HV-MTL collection tokens originate from a rarity characteristic called a “power source,” which is determined by the scores users obtain in Dookey Dash. These tokens are presently categorized as “Evo 1” but will transform into different forms in the future based on users’ performance in upcoming minigames.

Some early minters of the new NFTs experienced problems with so-called “companion traits” not appearing on their HV-MTL, but Yuga Labs detected the issue and updated the collection.

In January, Yuga Labs introduced the Sewer Pass mint, which generated $6 million in sales within hours. Token holders were asked to participate in Dookey Dash, a gamified experience created by Yuga in which users spend an average of 28 hours playing.