Checks – VV Edition: Burn a couple of your NFTs to boost your own status

Been wondering about your status in the Web3.0 and Internet technology space for a long time? Checks – VV Edition is a NFT collection that can show your status through the number of checks. Burn more NFTs to reduce the number of checks, which will eventually indicate your status. In this way, only the owner defines and shows the status for themselves. This is a whole new way to express your personality in the world of cryptocurrency, NFT and blockchain technology.

Checks – VV Edition Official Links

• Official site https://checks.art
• Twitter @jackbutcher – over 266k followers

What is Checks – VV Edition?

Checks – VV Edition is a collection of 7,453 NFTs as of this date (March 27, 2023). The emphasis on the date is not accidental. At first, there were over 16,000 NFTs. The collection is located on the Ethereum network, and the token standard is ERC-721.

The concept of the project is not new, but it definitely adds value to the NFT collection:

• Initially, each NFT had 80 checks of mostly white and gray.
• Next, it is suggested that NFTs be burned, but in pairs.
• For burning 2 NFTs with 80 checks, the owner gets one token with 40 checks.
• And so you can burn NFTs in pairs until you have a single check item.
• But the user can also choose not to burn NFTs at all and leave the original version.

Also, any user can get NFTs from the Checks – VV Originals collection. This is a collection of 5,900 NFTs that all have 80 checks each.

Checks – VV Edition in numbers

• The collection was released on January 4, 2023 with a mint price of 0.0066 ETH. And in just two weeks, the floor of the collection exceeded the price of minting by 57 times.
• The collection was originally released in the amount of 16,000 NFTs, but according to the concept, NFTs are burned in pairs to increase the status. Thus, today there are 7,453 tokens in circulation.
• The total volume of secondary sales exceeded 51k ETH (more than $87 million at the current exchange rate).
• Floor price is 0.84 ETH (about $1,500).
• Average sales range from 0.8 ETH to 1.5 ETH.
• The most expensive Checks 2 was sold on February 6, 2023 for 52 ETH (about $84k at the time of sale).
• A total of 2,782 unique holders (37%).
• Only about 2% of the collection (123 items out of 7,453) are for sale, among them the offers range from 0.84 ETH to 50 ETH. This shows that almost all holders see the project as a great investment prospect and are not in a hurry to part with their assets at a lower price.

Data (including exchange rates) are given at the time of publication (March 27, 2023)

Who created Checks – VV Edition?

The creator of the collection is Jack Butcher @jackbutcher.

Jack Butcher is an American designer with years of experience in corporate advertising. He is the creator of the popular resource Visualize Value which is designed to work with web resources and has many tools such as SEO auditing tools, analysis, reporting and more. Clients such as Mercedes-Benz, Michelin, Tiffany & Co., Unilever and others have already used this resource.

Why is Checks – VV Edition popular?

Checks – VV Edition became popular because of its idea and concept. Let’s highlight a few of the main reasons for its popularity:

• The number of checks can signify a person’s status. That is, if a collector has an NFT with one check, they can afford it, spending a lot more than $10 a month.
• The implementation of Web 3.0 technology in social media. For example, you can already set a digital avatar on Instagram. This creates a genuine status, it cannot be taken away, and only its owners can dispose of it.
• The staggering growth of floor prices and the volume of trades of the collection. The floor price of the collection soared 57 times in just two weeks since the launch. And the trading volume exceeds 50,000 ETH.

Checks – VV Edition Idea

The idea behind the collection is to address the devaluation of status on Twitter. The fact is that the concept of the blue check on Twitter has become part of Internet culture. It could be given to famous figures like politicians, athletes, artists, musicians, etc. After Twitter was sold to Ilon Musk, the check became just a status indicating that the person had $10, and it diminished attention to the account’s suspicious actions.

That is, the check confirmed that the person was successful not because he or she had $10, but because of his or her talent or recognized popularity. Thus, the availability of the blue check on Twitter devalued the status of famous personalities on the Internet.

And the Checks – VV Edition collection is like an endless canvas for self-expression, which is designed to challenge the concept of ownership and authorship in the age of the evolving Internet, especially within the Web 3.0 technology. After all, this NFT can be set as an avatar, and the number of checks will show the owner’s status in the NFT and cryptocurrency space.

Checks – VV Edition Roadmap

The project has no roadmap. The project is entirely created for the community, and namely for public status, according to the concept of the Web3.0 technology.

Checks – VV Edition Ecosystem

The Checks – VV Edition NFT project does not have a rich ecosystem, but it does not need a broad infrastructure either. It is a rather demonstrative project that focuses on a specific idea and concept. So, the author has only released one derivative NFT collection of Checks – VV Originals.

Checks – VV Originals

Checks – VV Originals NFT collection was released in February 2023 and was put on the secondary markets immediately. It has a total of 5,900 NFTs with 80 different colored checks. The collection has a floor price of 0.42 ETH on secondary markets and a trading volume of over 19k ETH.

How much do Checks – VV Edition NFTs cost?

On January 4, 2023, the Checks – VV Edition collection was released with a mint price of 0.0066 ETH. That same month, the collection began trading on secondary markets, where there was great demand for it. And how are things in terms of pricing?

To visualize the price dynamics, we made a slice of the average price for 1 NFT:

• In January 2023: 0.3 ETH;
• In February 2023: 1.5 ETH.

At the moment, on March 27, 2023, the floor price is 0.84 ETH. On average, the latest sales range from 0.8 to 1.5 ETH. And the total volume of secondary sales amounted to more than 51k ETH (more than $87 million).

The Most Expensive Sales of Checks – VV Edition

The most expensive sales are led by the following NFTs from the Checks – VV Edition collection:

1. Checks 2 was sold on February 6, 2023 for 52 ETH (about $84k at the time of sale);
2. Checks 5 was sold on March 16, 2023 for 25.29 ETH (about $42k at the time of sale);
3. Checks 27 was sold on February 6, 2023 for 17 ETH (about $28k at the time of sale);
4. Checks 6 was sold on February 2, 2023 for 13.5 ETH (about $22k at the time of sale).

Where to buy Checks – VV Edition?

Currently, Checks – VV Edition can only be purchased on the secondary market, on marketplaces such as OpenSea, X2Y2 and LooksRare.

How to buy Checks – VV Edition?

1. Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
2. Next, find the official collection using the search bar on the marketplace.
3. Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
4. Or you can bet on the token you like. Make sure you leave enough ETH for gas or transaction fees. If the seller approves your bid, the deal goes through.

Should you invest in Checks – VV Edition?

There are a few things that make the collection look good:

• The floor price of the collection is several dozen times the mint price;
• The collection is relatively new (it was only released in early January 2023), and perhaps the whole idea and prospects of the project have not been revealed;
• NFT collections act as a way to gain some status, according to the concept of the Web3.0 technology;
• The ability to burn NFTs in pairs, increasing their value and thus their price.

Before investing in NFTs, you need to do your own analysis. And remember that the Checks – VV Edition collection can be influenced by both the community and its author.

Opinion of NFTmetria

Checks – VV Edition is a collection with no roadmap and no prescribed application. It is a tool that reflects the status of the owner. That is, fewer checks means higher status, and vice versa. It’s a whole new way of expressing yourself that was once eliminated by Twitter’s new rules. Now only the owner and no one else can affect the status. This project could be a new milestone in the development of status on the Internet and in the digital space thanks to the evolving technology of Web3.0. And the secondary sales of more than $87 million in less than 3 months show the unconditional interest of the market in the idea and implementation of the concept.