In this article, we’re going to talk about the VeVe Digital Collectibles app and how to make money with it. The VeVe Digital Collectibles app is an NFT store, where they have partnerships with some pretty amazing brands.
The VeVe NFT App is available on both Google Play Store and the Apple App Store. It’s free to download.
What is the VeVe NFT App?
The VeVe NFT App is an app-based marketplace for purchasing and selling NFTs. If you’re unfamiliar with NFTs, an NFT stands for “non-fungible token” which means that every token is unique, different, and cannot be replaced by another.
When I look at stuff like this, I always ask, what is the USP? What is the unique selling proposition of this particular app? Well, with the VeVe store, it’s the brands that they have partnerships with.
If we scroll down through their website, you will see who they have partnerships with.
They have DC, Marvel, Back to the Future, Jurassic Park, Star Trek, Ghostbusters, and much more! One of them that’s actually not on their list, which it should be, is Disney. They’ve secured that along with several others. There’s rumors that people keep talking about and that is Pokemon coming to VeVe. I don’t know if that’s going to happen or not, but we’ll see.
One of the ways they’ve been able to achieve these brand partnerships is because of Alfred Khan. He is the head of global licensing at ECOMI. He has years of experience in this line of work, and because of that, he has been able to help them secure some really good brands for the VeVe NFT App.
This is what makes VeVe very unique.
How Does the VeVe NFT App Work?
In this app, a drop happens daily at around 11:00 Eastern Standard Time. Every day, there’s a new NFT that hasn’t been in the store before that is made available, and you can buy it, but you have to be very quick when doing so.
I’ve been grabbing some of these digital products, and they have a marketplace where you can sell them. What I would like to do now is to tell you what it’s like to purchase one of the NFTs in the app.
Buying an NFT in the VeVe App
To buy an NFT in VeVe, you have to be in the “Store” section of the app. It’s important to know that you literally have to click the ”Buy Now” button at the moment an NFT drops to secure it.
Most of the time, you have to be sitting in the app and watching the countdown drop down to 11 PM ET in order to secure it for yourself.
It’s also important to note that there’s hundreds of thousands of people doing this at the same time as you. There’s a lot of volume in this store when an NFT drops so they usually want you to come back in a few hours to actually see which variation of the NFT you got.
When you grab one of the drops you have a chance to get a common, uncommon rare, ultra rare or secret rare variation of the NFT. Obviously, if you grab the secret rare, it’s going to be worth the most.
You have the greatest chance of grabbing the common one because the odds are much more in your favor for that. Still, it’s still hard to get an NFT, no matter if it’s common or not.
In my video below demonstrating this, the drop was a spiderman comic book. I was able to secure one for myself. It cost $6.99, and I got the common one. They use these things called gems in the wallet for you to buy the NFT drops. Basically, one gem equals $1.
Now, once you have the item in your VeVe app, you can do a few things with them. In my case, I can read it because it’s a comic book which is pretty awesome.
Selling an NFT in the VeVe App
You also have the option to sell your NFT drop immediately in the VeVe marketplace. Typically, if you hold on to them longer, the value goes up. This is how you can make money through the VeVe App.
Here’s one that I own. I own the common drop for this spiderman comic. Right now, it’s going for about $26.80 at the VeVe marketplace.
Another option to buy or sell your NFT is through the Auction. Sometimes you can grab NFT drops a little cheaper there.
There’s like one in there for the same comic that I own and the auction for it ends in 2 hours. It’s going for $20.60. You can also put your NFT drops in auction for a good price.
Currency In the VeVe App
In the VeVe app, everything operates with gems. When you sell your drops, you will get gems.
There’s no option to exchange gems for dollars in the marketplace yet. If you want to exchange your gems for dollars, you’ll have to do that through a Telegram channel.
Now, Telegram is a secure messaging app. People who buy and sell gems have a private group in Telegram, and in there, they have escrow services where people will buy gems from you for USDT or Tether. You can also buy gems yourself at a discount within this group.
Typically, the going rate for a gem is somewhere around like $0.70 per gem. So, if in the marketplace, your NFT drop is going for 26.79 gems, you could get around $18.75 for it. Now that may not seem like a lot, but again, I’ve already seen drops like this going up in value over time.
More about the Telegram Group
So in this Telegram group here, you can see that there are people advertising. They’re selling gems.
You can trade gems here for US dollars or USDT or Tether. You can also trade NFT drops in here as well if you don’t want to sell them in the VeVe marketplace.
So, say you sold something in the marketplace, then you get a bunch of gems from it and you want to cash those out for dollars… What you would do is to come in here, then you will advertise that you want to sell your gems for US dollars, or you could look for people who want to buy gems.
And so you work out the deal, whatever that is, it could be 0.65 rate or 0.70 ratio from gems to dollars. And then what you do is you join their escrow group. There’s another Telegram group called “VeVe traders Escrow 3”, and you’re going to jump in this group and in here you would talk to one of the escrow agents and you would tell them that you’re ready to do a transaction with one of the other users that’s going to give you US dollars for your gems.
Those US dollars would then be sent to a wallet address that you have set up for tether. And then you are ready to cash those out through an exchange, like Coinbase or something like that.
So that’s kind of the gist of how you can use this to make money using the VeVe app. If you’ve had experience with this yourself, please share in the comments. If you have questions or if I didn’t get something right then please correct me in the comments and I’ll make note of that.
So that’s the VeVe app and that’s how you can use this to flip NFTs and make a little bit of extra income or a lot depending on if you’re able to get some good ones or if you’re able to hang on to them for some time and flip them later. If you just want to keep them and start your own collection you can do that too.