Want to check the current price of the NFT you bought on VeVe? It could be time to sell and turn a nice profit or see if your collectible has lost any of its value. Follow the steps below to find the current floor price of the NFT you hold. You’ll be able to see the price you paid for it right below it, too!
About VeVe & NFTs
NFTs are an incredible innovation that lower proof-of-ownership costs on digital assets exponentially.
Unfortunately, buying and selling NFTs isn’t exactly as easy as buying crypto.
A recent survey by Security.org showed that fully 86% of Americans don’t understand NFTs, and less than 1.5% own an NFT.
Buying an NFT is a lot like going to the DMV. The process is painful and requires multiple steps. You need to (1) buy the cryptocurrency of the blockchain where the NFT lives, (2) pay gas fees to get the buy transaction validated, and (3) have a wallet that can connect to the exchange you’re using. If we’re talking about the general population here, very few people own NFTs because it’s such a pain in the ass to buy one.
This is an ugly truth- crypto/NFT enthusiasts like you and I may find it easy to follow the steps and buy an NFT but think about your siblings or parents or people you work with trying to buy one. It isn’t as easy as it is to order something on Amazon, for instance.
Enter VeVe. Buying on VeVe is loads easier than buying on OpenSea and their NFT collection is great. The downside is that such an easy-to-use marketplace requires [gasp] centralization.
VeVe’s mission is noble- to make buying NFTs easy for the non-crypto/NFT enthusiast crowd. I have found their app to be easy to use and have had a great overall experience owning a few NFTs on the app. VeVe carries NFTs from Marvel Comics, MGM Studios, Star Trek, Universal Studios, and more. That’s some pretty hefty intellectual property right there. There will always be a market for collectibles with respect to these kinds of brands/franchises.
The OMI Token
The OMI token is the Ecomi VeVe network’s native token that is used to buy and sell NFTs. At Initial Coin Offering (ICO) the OMI token had an initial supply of 750 billion, with an initial price of one satoshi. OMI’s price has increased at least 50 times since the ICO, but may still be oversold due to a massive price correction in May 2021. If the music keeps playing on the 2021 bull market, the token still has plenty of upside well beyond its all-time high in early 2021.
The OMI token has surged in popularity, and will likely only grow more popular. As of this writing, OMI is the fourth largest NFT crypto coin after big projects like Axie Infinity and Theta. Its market cap would still have to quadruple to catch up to Theta or Axie Infinity.
How to check the market price of your NFT on VeVe
- Open the VeVe app on your phone or tablet. If you need to log in, add your email and password. You’ll also need to enter a six-digit confirmation code sent to your email.
- On the bottom menu, select the collection button.
- Scroll down past the ‘My Showrooms’ down to the My Collectibles section of your collection home. Find the NFT for which you want to check the current value. Select the information icon “i” on the bottom right of the thumbnail picture of the NFT.
- The app brings you to that item’s profile page. Scroll down to the details page and look at the floor price. This is the minimum price that the last item identical to this one has sold. In other words, this is what your NFT is worth on VeVe in US dollars (1 Gem = 1 US Dollar).
- Right below the floor price you can see the ‘you paid‘ price. Hopefully the current floor price is well above what you paid!