What is "Checks - VV Originals" NFT Project? All You Need to Know

“Checks – VV Originals” is an NFT collection that consists of on-chain Checks NFTs launched in response to the recent decision by Twitter CEO Elon Musk to charge an $8 monthly fee for Twitter blue ticks.

Created by Jack Butcher on the Ethereum blockchain, the “Checks – VV Originals” NFT collection has found some traction over the past few days. The collection has climbed to the top of the NFT projects list in terms of the trading volume.

Jack Butcher is the founder of Visualize Value, a product business and media platform that originated from the belief that Butcher should productize himself. Visualize Value now has an audience of over 700,000 people.

What is “Checks – VV Originals” NFT Collection?

Checks – VV Originals is an NFT collection that consists of 8,000 non-fungible tokens. The project was launched on the Ethereum Blockchain earlier this year.

The collection is the continuation of the Checks – VV Edition NFT collection that was released as an open mint priced at only $8 and was mintable for a total of 24 hours.

The Edition collection saw a total of 16,027 mints in the 24-hour timeframe. The Originals collection represents the main act of Butcher’s “on-chain status game” where holders had to burn a number of editions to mint a Checks – VV Originals NFT.

Depending on the number of Edition NFTs burned, holders can claim an on-chain Original featuring 1, 4, 5, 10, 20, 40, or 80 Checks.

“THIS ARTWORK MAY OR MAY NOT BE NOTABLE,” the project’s website reads. “OWNERSHIP AND AUTHORSHIP IN THE AGE OF THE INTERNET IS BASED ON THE PREMISE OF VERIFICATION.”

“THIS CONCEPT BECAME A PART OF INTERNET CULTURE IN 2009 WHEN TWITTER INTRODUCED THE VERIFIED CHECKMARK TO THEIR INTERFACE TO INDICATE THE NOTABILITY OF AN ACCOUNT – A BADGE TYPICALLY RESERVED FOR JOURNALISTS, POLITICIANS, ATHLETES, ARTISTS AND CELEBRITIES.”

“Checks – VV Originals” NFT Collection Market Performance

The “Checks – VV Originals” NFT collection has gathered some momentum over the past few days, climbing to the top of NFTs list in terms of trading volume.

More specifically, the project has registered more than 152 ETH (worth around $236,000) in trading volume over the past day. In total, the Checks – VV Originals” NFT collection has a cumulative trading volume of 17,000 ETH (or around $26.5 million).

Furthermore, the project’s floor price currently stands at 0.96 ETH, or around $1,500. The floor price is the lowest ‘Buy Now’ price for an NFT within a collection.

The “Checks – VV Originals” NFT collection has a total of 1864 owners, and 22.42% of them are unique owners. This suggests that some big whales hold the bulk majority of the items in the collection.