What does Delivery mean?
Delivery is the process through which a new collectible is minted on the blockchain and assigned to a user, following a drop.
Always check the delivery of a collectible on drop day to avoid poolsiding.
VeVe collectibles are NFTs that are stored on the Immutable-X blockchain.
After users purchase a collectible on a drop, the NFTs must be “minted” or written onto the blockchain and then assigned or “delivered” to each user who purchased one.
Depeding on the edition size of the drop, this process can take anywhere from a few minutes to a few hours to complete. Users are delivered their collectibles in a random order.
Because the delivery process takes a while and because some users receive their collectibles sooner than others, this creates some interesting market dynamics.
Getting delivered a collectible early is a great market opportunity for flippers because FOMO is the highest right after the drop, leading to high prices before more users are delivered their collectibles.
Prices usually start off high right after a drop, and then go lower as users undercut each other, so getting a collectible early can be a good way to sell it for a high price. Prices tend to drop steadily until delivery reaches around 50% of buyers, after which there can be a second wave of FOMO.
Depending on the popularity of a collectible, there can be several waves of FOMO, as users try to predict when will be the lowest price based on the percentage delivery.
Conversely, if you are a buyer it is prudent to always check how many of a collectible have been delivered (which you can see by visiting the collectible’s listing page) and not FOMO into a collectible while delivery is low.
Prices are almost always highest on drop day, so unless you are trying to snipe specific mint numbers, it almost always makes sense to wait a few days until the next shiny object is announced, or until the next gem squeeze, before making a purchase on the marketplace.