My Wild Ride with VeVe: A Digital Collector’s Dream (and Nightmare)

The NFT Craze: How It All Began

Picture this: it’s mid-2021, and suddenly, everyone’s talking about NFTs (Non-Fungible Tokens). As a seasoned collector of physical collectibles, my interest was piqued. The idea of owning digital items with proof of ownership? Mind-blowing! However, at that time, the NFT space was filled with new IPs that didn’t quite resonate with me. That was, until November 2021.

Enter VeVe: A New Hope

One fateful day, I watched a video by Andrei Jikh, and he dropped a bombshell. VeVe, a digital collectibles platform with amazing AR technology, had secured IP licenses with some of the biggest brands in the world: Disney, Marvel, and—drumroll, please—Star Wars. My beloved Star Wars! The chance to own the first-ever Star Wars NFT on the blockchain was irresistible. I was ready to dive in headfirst.

The Bumpy Beginnings

Like any good startup story, VeVe’s journey wasn’t without its bumps:

• Bot Battles: Bots were snapping up all the good stuff, leaving genuine collectors like me frustrated.

• Cash-Out Conundrum: Initially, there was no way to cash out due to complex regulations across different countries.

But here’s where VeVe shone brightly: the community. The passion and drive of the VeVe community were something no amount of marketing dollars could buy. It was like finding a group of long-lost friends who were just as excited about digital collecting as I was. VeVe kept dropping First Appearances (FA) of iconic characters, and the community buzzed with speculation. NFT values soared, and since no one could cash out, the excitement and value of the collectibles was through the roof.

Cashing Out: The Reality Check

Eventually, the ability to withdraw funds became available. That’s when reality hit me. Keeping all that money locked in collectibles wasn’t the smartest move, given my financial situation. So, I sold most of my prized NFTs and took profit. I stayed active for a while, but as the NFT market took a nosedive, my enthusiasm waned.

The Present Day: A Mixed Bag

Fast forward to today. VeVe is still landing jaw-dropping partnerships with huge brands, but new innovation? Not so much. One of the biggest selling points was the upcoming "VeVeVerse," a virtual world where collectors could showcase their treasures and enjoy some gamification. Sadly, this project has faced delay after delay, and we’ve seen very little of it.

The biggest headache? VeVe is stuck in the middle of two worlds. It’s too Web3 for the non-crypto-savvy who still believe the negative stigma of NFTs and too Web2 for crypto enthusiasts like me. As the crypto market heats up again, VeVe remains off the radar. You can’t buy NFTs with crypto, you can’t sell NFTs for crypto, and you can’t transfer your collectibles to a wallet. While ETH and Bitcoin are soaring, VeVe NFTs are chained to fiat currency. Want to use your crypto gains to buy VeVe NFTs? You’ll need to cash out to fiat first and face whatever tax implications that would create. It’s a mess.

The Community: From Hype to Hiccup

The once-thriving community is now split. Some members have grown tired of waiting for VeVe to deliver and have started to campaign against VeVe. This is heartbreaking because the community in my opinion is the platform’s biggest asset.

My Final Verdict on VeVe

If I had to grade VeVe today, it would get a 3 out of 5. But I’m still holding onto a glimmer of hope. I believe we’ll eventually see crypto-to-NFT transactions and the long-awaited VeVeVerse. Until then, I’m cautious about how much of my collecting budget goes to VeVe.

I hope VeVe returns to its roots and remembers why we all joined in the first place: to collect a piece of digital collectible history. True ownership is non-negotiable if we want future collectors to see VeVe as the real First Appearance (FA) of the IPs we cherish.

Conclusion

My journey with VeVe has been a rollercoaster of highs and lows. The platform has immense potential, but it needs to address its current issues to truly succeed. For now, I remain cautiously optimistic, watching and waiting for VeVe to deliver on its promises. Here’s to hoping VeVe can once again ignite the spark that made us all so passionate about digital collecting in the first place!