Minting New Knights
Since more and more players will join the game, the 10,000 Genesis Knights will not be enough to meet the demand. Therefore the players can mint new Knights as NFTs.
To mint a new Knight, the player must consume a Off-Chain Knight in their game account and pay the minting fees.
The fee for minting a new Knight will be higher than the lowest winning price from the Initial Knight Offering. We currently target it to be 30% percent higher. Therefore if the lowest winning price in the IKO is $50 USD, the minting fee for a new Knight will be $65 USD.
By this way, all participants in the IKO have a reasonable advantage of getting in early.
Since Knights do not have a fixed amount, the cost of minting a new Knight is designed to go up with time in order to prevent the new Knights from diluting the value of older Knights.
Every time 100 new Knights are minted, the minting price goes up by $1 USD.
By this way, if IKO Floor Price is $50 USD, the 100,000th Knight would cost $965 USD to mint.
We believe with this minting mechanism, early adopters are incentivized while new players can still get their own Knight without having to pay an absurd amount of money upfront.