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NFT Worlds - $WRLD Token
Claiming for NFT World holders
Details on the upcoming $WRLD claim.
Since December 27th, any wallet that held at least 1 NFT World during our snapshot on December 23rd is able to claim $WRLD tokens at https://nftworlds.com/claim
The claim will be split between 2 snapshot dates. One snapshot on December 23rd accounts for 250,000,000 distributed $WRLD, the second snapshot will occur on an unannounced date around February 2022 when another 250,000,000 $WRLD will be distributed. For a final total of 500,000,000 $WRLD claimable by NFT World holders.
Why 2 Claims?
The initial claim in December for 250,000,000 of the total 500,000,000 to-be claimed tokens gives holders access to current utility, and the ability to begin negotiating with our in-game build partners to begin creating things on world owners' worlds in exchange for $WRLD.
The second claim that will occur roughly around February 2022 is scheduled for when we expect to have significant in-game $WRLD multiplayer utility live. This is when players can begin trading $WRLD for in-game upgrades, perks, and more. This is also when we expect to have more tools that are based on $WRLD for World Owners to utilize.
With two claims, that means if you continue to hold your worlds after the first claim you can expect to receive the same or potentially more tokens than the first claim in December, from the second claim in February. Effectively doubling your total received $WRLD.
How will token amounts be calculated?
We wanted the claim formula to be based on traits and resources, but making a formula directly tied to that and assigning a token amount modifier to each unique trait, and each relative resource amount for worlds would of been extremely confusing for everyone.
We also wanted a relatively fair and equitable claim process, but one that still gives an adjusted amount of WRLD to holders of worlds with better traits and resources (Which is what rarity is based on), but not an exponentially, unfair amount more.
To simplify things but still have traits and resources as the primary consideration for the claimable token amounts per world, we're basing the formula on rarity.
This is because our rarity/ranking formula was based on world traits and resources in the first place. It was a custom formula we developed unlike the typical NFT ranking algorithms. The ranking formula already factors all traits, attributes and resource values to assign a relative rarity/rank.
The token basis claimable for a world is calculated as follows.
Basis Formula: 40000 - ((WORLD_RANK - 1) * 3) - 1.5
This formula to calculate basis is sweet and simple. It's normalized and still based on traits, resources and attributes through the way we ranked worlds as well.
It is a descending linear distribution formula where the rarest world will receive the most tokens, and the least rare world receives the least, as you'd expect.
So what does this look like in practice?
WRLD Token Basis Claimable
World Rank 1 (Rarest)
Approximately 40,000 $WRLD
World Rank 5,000 (Middle Rarity)
Approximately 25,000 $WLRD
World Rank 10,000 (Least Rare)
Approximately 10,000 $WRLD
Ok, now that that's out of the way, let's explain what we mean by BASIS...
We want to reward those who have been long term NFT World holders, but in a manner that is not unfair to new holders. What we've proposed is a maximum 10% increase in token allotment for worlds held by long term world owners, per the following formula, relative to the BASIS a world gives.
For example, if your world has a basis of giving 25,000 $WRLD and you've held that world in the same wallet since mint, you would receive an additional 10% of the basis for that world, for a total claim of 27,500 $WRLD (25,000 + 2,500).
A maximum 10% increase of $WRLD claimable is represented as a relation to the following formula.
Holder Modifier:
Number of blocks a world has been held / (Snapshot blockheight - Final world minted blockheight)
This formula basically gives you a % increase of $WRLD basis received for each world, based on the amount of time relative to the original mint date and the date the snapshot happens. For example, if you purchased your world immediately before we take the snapshot for the first claim, you'd receive a +0% modifier, meaning you'd expect to roughly receive just your Worlds basis as calculated above. The highest modifier you can receive is +10%, you'd receive this if you've held your world since mint.
This holder modifier relative to the basis will be equally adjusted across all total WRLD token distributions such that the total distributed is still 250,000,000 during each of the 2 claims.
The second claim will also be based on this same formula.
Do I get more $WRLD if I own more NFT Worlds?
Yes.
For example, if you own 2 worlds, one world giving 15,000 $WRLD and the other 25,000 $WRLD, you can expect to receive a total of 40,000 $WRLD.
The same goes for owning 3, 4, 10, 20, etc, total worlds.
How can I participate in the claim?
NFT World owners will be receiving $WRLD through claiming to kick-off our in-game ecosystem.
If you owned an NFT World on December 23rd, you can participate in the first claim here: https://nftworlds.com/claim. If you missed out on the first claim, there will be a second claim you can still participate in so long as you own an NFT World in a wallet prior to our unannounced 2nd snapshot occurring in February 2022.