Yuga Labs Summons Fans to Mint HV-MTL NFTs, Prices Soar on OpenSea

Non-fungible token ($NFT) giant Yuga Labs has opened the mint for the next phase of its skill-based game, Dookey Dash.

Wednesday night, eligible players who claimed a Sewer Pass in January were invited to participate in “The Summoning,” a process in which users could burn their Sewer Pass token in order to mint an $NFT in the new collection. Called HV-MTL (heavy metal), the 30,000 unit collection consists of “mechs,” which resemble robots.

Sign up for The Airdrop Newsletter, Your Weekly Wrap of Web3 Trends and News

The tokens have already soared on the secondary market in the hours since the collection’s release. According to data from $NFT marketplace OpenSea, the collection’s floor price is about 2.4 $ETH, nearly $4,000, with a trading volume of over 4,850 $ETH, roughly $8 million.

Each token in the HV-MTL collection is derived from a “power source,” or a rarity trait that is determined by users’ scores in Dookey Dash. The tokens are currently in Evo 1, and will evolve into future forms based on users' success in upcoming minigames.

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

Yuga Labs released its Sewer Pass mint in January, grossing $6 million in sales hours after its mint commenced. Tokenholders were invited to participate in Dookey Dash, Yuga’s gamified experience which saw the average player clock in 28 hours of gameplay.

Read more: Yuga Labs' Bitcoin $NFT Collection Fetches Top Bid of Nearly $160K