About Mining Claims
Last updated
Last updated
Genesis Worlds Mining Claims are the founding NFTs that allow you to participate in individual World governance, while Mining the tokens that power the Metaverse economy.
– Each Mining Claim NFT features a Creative Commons () licensed downloadable .gif, video and 3D concept model of the World.
– Mining claim holders are entitled to 1 land parcel per mining claim held.
– The more Mining Claims you own, the more $GENESIS you will mine, and holding your Mining Claims longer also earns more $GENESIS over time.
– The more claims you hold for an individual World, the more influence you’ll have on World governance.
– Use your earned $GENESIS to participate in and earn more $GENESIS
– Visit our page to calculate expected returns from Mining Claim ownership.
– View all existing and upcoming mining claims by visiting the page on the official Genesis Worlds website.
– On the page, Supply indicates the number of a claims in existence for that particular world.
World Mining Claims are liquid NFTs. They can be bought and sold from the Mining Claim contract at any time, for the current market buy or sell price. This is a massive improvement over traditional NFTs, which can be hard or impossible to sell. The buy and sell prices are calculated automatically using a bonding curve, based only on the number of Claims that exist. As you can see below, the curve is very gentle, to allow a good number of Claims to be purchased. For example, when:
– 500 Claims exist, the next Claim will be priced at 508 $GAME
– 1000 Claims exist, the next Claim will be priced at 873 $GAME
– 1500 Claims exist, the next Claim will be priced at 1391 $GAME
– 2000 Claims exist, the next Claim will be priced at 2139 $GAME
– 2500 Claims exist, the next Claim will be priced at 3195 $GAME
– 3000 Claims exist, the next Claim will be priced at 4633 $GAME
Note that when Claims are sold back, they are burned, thereby reducing the number of Claims in existence and potentially lowering the sale price for new Claims.
