# Initial Knight Offering

### Genesis Knights

The first batch of Knights will be auctioned using the [monet.market](https://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.

### Genesis Knights are Valuable

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.

### Knights are Priced in USD Stablecoins

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.

### Floor Price is Essential

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