Checks NFT By Jack Butcher Review
Jack Butcher is single-handedly bringing the NFT market back to life with his Checks NFT project. This is not the first ‘open edition’ NFT collection, but its success is hard to miss to say the least. Let’s see what is so special about the Checks NFT project.
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What Is The Checks NFT Project All About?
The Checks NFT is an open edition NFT that features 80 check marks in a perfect grid, where each check mark is of a different colour. An open edition NFT is basically an NFT collection where the number of tokens depends on the number of people voluntarily minting them. This is different from the typical 10k PFP projects where the developers determine a fixed number of tokens beforehand.
In the past, a Twitter check mark was a coveted badge bestowed by institutions to a select group of journalists, politicians, athletes, artists, and celebrities. Today, it merely means that the holder is willing to pay for it, significantly diminishing its notability. The Checks NFT project intends to capture this moment in time. It is an expression that challenges the concept of ownership and authorship in the age of the internet.
Who Is Behind The Checks NFT Project?
Here’s a quick introduction of the mastermind behind the Checks NFT project, Jack Butcher. Jack is a retired engineer and marketing professional. Currently, he is focusing his efforts on helping financial professionals and investors to bridge their investment strategies over to the blockchain space. From being a creative director in various Fortune 100 companies, he has since started his own million-dollar media platform, Visualize Value. This network of mentors is working with some of the top companies around the globe such as Michelin, Mercedes-Benz, and Amazon.
Jack was one of the earlier people in the NFT industry, selling his 1 of 1 NFT in early 2021 for almost $150k. He then had the good sense to buy a bunch of Bored Apes before the bull run even kicked off. Now how about that!
Checks NFT Roadmap
Moving forward, Jack plans to continue working on the Checks project, adding layers of iterations to create an interactive experience for the community. With the addition of @traf and @jalil.eth, the team is working on the following burning mechanism: 80 > 40 > 20 > 10 > 5 > 4 > 1. Basically, holders can burn 2 originals to get the next smallest edition original. All in all, it is still a work in progress so you will have to stay tuned for any updates on the burn.
Checks NFT Price - How Much Do They Cost?
The primary sale ran for 24 hours, generating a total of 16,031 mints at $8 a piece. This price was a nod to the idea that the only requirement to get a check on Twitter is to pay $8. Currently, the collection is only available on the secondary market. At the time of writing, Checks has a floor price of over 2 ETH and a total volume of over 15k ETH (~$25m). In other words, that’s a whopping 400x ROI!
On a side note, OpenSea indicates a relatively low number of unique owners at only 27%. As a comparison, the Azuki NFT collection has 50% unique owners. There are many contributing factors for this figure, so just practice caution before getting your feet wet.
The current floor price is: