Friends and community,
We are excited to share the details of the Genesis Worlds Mining Claims NFT launch happening on Tuesday, January 18th! We know you want to be prepared when the first three Worlds go on sale. Keep this message at your fingertips in case you need to reference it during the sale. (And feel free to share with friends)
Mining Claims NFT Refresher
Genesis Worlds Mining Claims are the founding NFTs that allow you to participate in individual World governance, while Mining the tokens that power the Metaverse economy.
- The more Mining Claims you own, the more $GENESIS you will mine, and holding your Mining Claims longer also earns more $GENESIS over time.
- The more claims you hold for an individual World, the more influence you’ll have on World governance.
Mining Claim Basics
- Each Mining Claim NFT features a Creative Commons (CC0) licensed downloadable .gif, video and 3D concept model of the World.
- Mining claim holders are entitled to 1 land parcel per mining claim held. (Parcels will be distributed during land sales in 2022.)
- The base price for each World is 500 $GAME, which will start to increase along the bonding curve after 480 have been sold. (Here’s how to get $GAME)
- NEW! You will be able to purchase up to 10 Mining Claims per transaction, and there is no limit to the number of transactions per wallet.
- $GENESIS emissions begin one week after the first Mining Claims go on sale – January 25th.
Here are the details you will need to successfully participate in the Mining Claims sale. All times are listed in PST. You can use a time zone converter tool to find out when sales occur in your region, or you can look at the page for the mining claim. The individual mining claims pages also list the launch time in your local time zone along with a countdown timer to the launch.
Tuesday January 18, 2022
8:00 AM PST – Nexus
9:00 AM PST – Treasure Planet
10:00 AM PST – Neo Tokyo
Here are the preparation steps we believe will best lead you to success:
- Join our Discord community. This is a great place to connect with others and will be the first place we post announcements about any issues or tips.
- Use Metamask with your desktop browser. (Mobile has more issues.)
- Make sure you have enough $GAME for the number of Mining Claims you wish to purchase, as well as $MATIC for gas fees on Polygon Mainnet in your Metamask Wallet. (See the pricing info below to understand how the prices will move based on the number of Claims in existence.)
- Navigate to https://genesis.game/mining or the one of the individual World links above and click CONNECT WEB3.
On the page for the Mining Claim you want to purchase, click BUY CLAIM and follow the prompts to complete your purchase.
More About Pricing
World Mining Claims are liquid NFTs. They can be bought and sold from the Mining Claim contract at any time, for the current market buy or sell price. This is a massive improvement over traditional NFTs, which can be hard or impossible to sell. The buy and sell prices are calculated automatically using a bonding curve, based only on the number of Claims that exist. As you can see below, the curve is very gentle, to allow a good number of Claims to be purchased. For example, when:
500 Claims exist, the next Claim will be priced at 508 $GAME
1000 Claims exist, the next Claim will be priced at 873 $GAME
1500 Claims exist, the next Claim will be priced at 1391 $GAME
2000 Claims exist, the next Claim will be priced at 2139 $GAME
2500 Claims exist, the next Claim will be priced at 3195 $GAME
3000 Claims exist, the next Claim will be priced at 4633 $GAME
Note that when Claims are sold back, they are burned, thereby reducing the number of Claims in existence and potentially lowering the sale price for new Claims.
Tips and Tricks
- Make sure your $GAME is on Polygon. If you currently have $GAME on ETH mainnet and need to move it to Polygon, follow the process for bridging.
- Polygon helps us keep gas fees low. You’ll need enough $MATIC in your wallet to pay gas fees. Fees fluctuate and we recommend you prepare by holding 2-5 $MATIC per transaction in your wallet. (You can buy up to 10 Claims of an individual World per transaction.)
- Different Worlds will require separate transactions.
- The bonding curve controls the market price, but it can change quickly if there’s lots of Claims bought at the same time. In that case, the price of Claims will also go up quickly, and that can cause your transaction to fail. If it does, you can resubmit your transaction at the new higher price.
- Test connecting your wallet in advance using the CONNECT WEB3 button. Test disconnecting. You’ll want to know how to do this in case you need to disconnect and reconnect at some point.
- If you run into issues, check in with our community on Discord, and we’ll help you out.
Thanks for Reading
The first launch will provide us with info to help us continually improve the experience as we launch future Mining Claims. Our team members have all participated in launches where we were unsuccessful purchasing NFTs we were hyped to collect, and we understand that pain. We expect to have a lot of demand the first day, and want to remind everyone that the sale doesn’t end the first day. The price will eventually settle at a market price, and you’ll be able to buy your World Mining Claims at that price.
The team at GAME Credits cares deeply about our community. We are privileged to be able to connect daily with truly wonderful and collaborative people. We are working diligently to ensure a fair launch and we are excited to have you along for this big step in building the 100 year Metaverse!