Initial Knight Offering
The first batch of Knights will be auctioned using the monet.market Multi-NFT Auctioning system. The floor price of those Knights will be determined based on free market price action. We call them Genesis Knights, and the auction campaign Initial Knight Offering (IKO).
We plan to offer 10,000 Knights in the Initial Knight Offering.
In the Initial Knight Offering, high level Genesis Knights equipped with strong items are available for sale. We anticipate these Knights to be auctioned out with a substantial price, while lower level Knights with a more modest price.
We decide to price Knights in USD stablecoins because:
- The game sees Knights as the consumers of RUBY. It would be degrading to price Knights themselves in RUBY.
- We don't want Knight prices to be a subject to the extreme volatility of game tokens.
The lowest winning bid from the IKO will set the initial Floor Price of Genesis Knights. This will affect:
- The SeaLevel of the Genesis Royalty Pool
- The basis price for minting new Knights