Happy Sunday & Father’s Day to the Gnogenverse
Today’s announcement is for the formal release of what will happen with the Gnogenverse 10K Lands!
From the beginning, we set out to do something different, something new, and something that had the potential to rewrite the way the game was being played. For each NFT project this means something unique to the way they approach brand building. For Gnogen it meant distributing the entire $GNG token supply as well as all 10,000 Gnogen Metaverse Lands at no additional cost to our community.
Although there are a few changes to the originally proposed distribution model, the core mechanism remains largely intact. Here is a breakdown of what the GNOGONS Community can expect:
Group 1: Minters who still hold their Gnogon, or sold and rebought the same number of Gnogons as what was minted.
Land Distribution for Group 1: These minters will receive 1 land NFT for every Gnogon still held.
Example: You minted 7 Gnogons, you sold 2, and bought 2 more, thus holding 7 Gnogons at the time of the snapshot. You will receive 7 lands, with the land corresponding directly to the Gnogon it is soulbound to.
Group 2: Minters who sold their Gnogons and have not rebought any Gnogons to fill those voids.
Land Distribution for Group 2: The minters who minted 7 Gnogons will receive 1 less than half of the total number of Gnogons they minted. Those who minted less than the 7 maximum allowance, will simply receive half of the total number of Gnogons minted, rounded to the next lowest integer.
Example: You minted 7 Gnogons, you sold 7, and did not rebuy any additional Gnogons, thus holding 0 Gnogons at the time of the snapshot. You will receive 2 land NFTs. The math for this is: 7 divided by 2, minus 1 (which equals 2.5), and we rounded down from 2.5 to the next lowest whole integer of 2.
Group 3: Those who did not mint any Gnogons but purchased all of their current Gnogons on the secondary marketplaces.
Land Distribution for Group 3: The holders who did not mint their current Gnogons will receive half the amount of Gnogons they hold, rounded up to the next whole integer.
Example: You minted 0 Gnogons but you purchased 21 on the secondary marketplaces, thus holding 21 Gnogons at the time of the snapshot. You will receive 11 land NFTs. The math for this is: 21 divided by 2, which equals to 10.5, and we rounded up to the next whole integer, resulting in 11 land NFTs.
Edge Cases:
EC #1: What happens if I minted 7 Gnogons, sold 3, and now hold 4 Gnogons?
Answer: Your wallet would be treated as 2 groups (groups 1 and 2), and would thus receive 4 + 1 = 5 total land NFTs.
EC #2: What happens if I minted 4 Gnogons, sold 0, and bought 5 more from the secondary?
Answer: Your wallet would be treated as 2 groups (groups 1 and 3), and would thus receive 4 + 3 = 7 total land NFTs.
EC #3: What happens if I minted 5 Gnogons, sold 5, and did not buy any more Gnogons?
Answer: Your wallet is treated as Group 2, BUT, you will not receive the minus 1 penalty, and will thus receive 2 land NFTs. This can be a bit confusing, so it is important to note, that the minus 1 penalty is only for wallets that minted 7, sold 7, and currently own 0 Gnogons. Minters who minted less than 7, and sold all of their Gnogons, will simply receive # of Gnogons minted divided by 2, rounded to the next lowest integer.
EC #4: What happens if I minted 1 Gnogon, and sold this Gnogon, and never bought another to fill the void?
Answer: Your wallet will receive 1 land NFT. All of our calculations have a floor of at least 1 NFT, even if the core algorithm rounded the math down to 0.
Further details regarding which lands will go to those who never minted, such as who gets the land NFT for a particular Gnogon will be updated in a second announcement in the coming days.
Gnogen Land NFTs will release in 2 phases. Phase 1 will see land vouchers being airdropped in the coming weeks. Phase 2 will allow voucher holders to trade in those vouchers for the full land NFT near Q4 of 2022.
The snapshot for phase 1 has already been completed, as we did not want there to be increased trade activity due to this announcement. We thank everyone for your patience and understanding regarding this sensitive discussion, and are grateful for all of the intelligent discourse and suggestions submitted by our community members.
Prepare yourselves. Gnogen land NFTs are coming.
