What is a Low Mint?
A low mint is a collectible or comic with a low edition number, typically below 100 or 50.
Usage:
I have a low mint Spider-Man that’s worth ten times the floor price.
Full Definition:
VeVe NFTs are minted onto the blockchain in sequential order, so for a collectible with 150 editions like Donny, 001 would be minted first, then 002, then 003, and so forth.
Many collectors ascribe more value to collectibles with lower mint numbers (aka edition numbers), since they were minted first, and this causes the prices of low mints to be much higher than collectibles with higher mints.
There is some debate on what exactly constitutes a “low mint” and it can also depend on the edition size of a collectible. For example, for a collectible with 60,000 editions a sub-1000 might be considered a low mint.
Collectibles with mint numbers less than 100 especially command a premium.
The YouTuber, Randy Chavez, did an analysis of prices in the marketplace and found that sub-100 mints typically command a premium based on the rarity of the collectible:
- Common – 10x floor price
- Uncommon – 8x floor price
- Rare – 6x floor price
- Ultra Rare – 4x floor price
- Secret Rare – 3x floor price
Sub-50 mints are typically worth 20-30x the floor price, although this varies based on the popularity of the collectible.
For example, if the floor price of a common collectible is 50 gems, you can expect a sub-100 mint of that collectible to sell for at least 500 gems, and a sub-50 to sell for at least 1000-2000 gems.
Because VeVe holds back a small number of collectibles for the licensors and for marketing purposes, the lowest mint numbers for most collectibles in 41. However, earlier collectibles in the app can have lower mint numbers due to VeVe holding back fewer collectibles at the time.
VeVe has stated that they plan to showcase the #1 mint of every collectible and display them in a museum within the VeVeVerse.
However, because it is possible that VeVe and its licensors could release lower mint collectibles into the market in the future, some have speculated that the price of low mints could crash in the future.
Some collectors have also started to place more value on the highest edition number collectible of a set, for example mint 15,000 out of 15,000, since there will never be a higher mint number.