Yuga Labs launched the HV-MTL NFT collection of 30,000 “Evo 1” Mechs. The minimum price for each HV-MTL NFT is around $4,445.

Quick Takes:

• Yuga Labs has launched a new NFT collection called HV-MTL featuring 30,000 “Evo 1” Mechs. Sewer Pass NFTs can burn their collectibles to obtain new NFTs.
• Yuga Labs recently generated $16.5 million from its TwelveFold NFT auction.
• Scammers are taking advantage of the launch of the HV-MTL NFT collection by spreading harmful links, while collectors have reported issues with metadata.

HV-MTL Collection X Dookey Dash

Yuga Labs, the creator of the popular Bored Ape Yacht Club NFT collection, has launched a new collection called HV-MTL, which comprises 30,000 Evo 1. As mentioned, the minimum asking price for HV-MTL NFTs is around 2.7 ETH on OpenSea. The collection has already exceeded 2,588 ETH on the secondary market, accounting for approximately $4.3 million.

The new collection aims to enable users to convert Sewer Pass NFTs into mechanized Mechs by burning them. As a result, users will unlock future games and content. The inception of Dookey Dash laid the groundwork for this progression. Basically Dookey Dash is an endless runner game in which players maneuver through a simulated sewer system. Last month, esports sensation Kyle “Mongraal” Jackson won the maiden race in which over 25,000 contenders used Sewer Passes as a source of fuel.

Scams and Problems with HV-MTL

To begin, collectors have highlighted problems regarding the metadata and the absence of “companion” traits. To this, Yuga Labs admitted the error and immediately took down the trait, with the goal of issuing a metadata upgrade post-resolution. The team eventually fixed the glitch after working on it for over four hours.

Simultaneously, opportunistic scammers have endeavoured to capitalize on the commotion by spreading links to harmful websites. Plus, they are posing as representatives of the Bored Ape Yacht Club. This emphasizes the necessity for collectors to exercise enhanced vigilance.

Yuga Labs : Other Major Projects

Yuga Labs generated 733 BTC from their debut Bitcoin NFT auction, the TwelveFold collection, which took place on March 6, 2023.

Out of the 300 NFTs in the Twelvefold collection, 288 were auctioned off, while 12 were reserved for contributors. Moreover, Yuga Labs released a leaderboard containing winning user addresses and corresponding BTC bids. The team also released plans to publish a directory to track the inscription process.

Despite the auction’s success, it was not without controversy, as some members of the crypto community, criticized the auction method employed by Yuga Labs. The members includes prominent names including Casey Rodamor, creator of Bitcoin Ordinals.

Moving along, the TwelveFold NFT collection has generated significant interest in Bitcoin NFTs. However, purchasing artwork on the leading crypto network requires an open marketplace, unlike Ethereum-based NFTs. This distinction led to negative reactions from some users who took issue with the existing auction process.

The launch of the latest HV-MTL NFT set signals a fresh chapter in Yuga Labs’ pursuits, presenting members of the Bored Ape Yacht Club with an occasion to interact with their NFTs in groundbreaking manners. As is the case with any emerging market, collectors must exercise caution to evade scams.

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