Summoning System
In general, there is a dip in the floor price of an NFT collection after the reveal. Maybe it’s because holders don’t resonate with the traits of their NFT, or perhaps they were clinging on to the slim chance of minting a 1/1. Whatever the case may be, it has become the new meta to flip pre-reveal.
Still, tell me you haven’t looked up the NFT you minted and sold to see if it was rare. It’s okay; I’m not judging you. We all do it. We all want to be the guy who holds a Legendary.
The summoning system is our way of giving holders one more opportunity at pulling a 1/1. For those of you who don’t know, there are 12 Legendary 1/1s in the collection; 6 are available in the mint, and six must be summoned.
What is the Summoning System?
Approximately one-week post mint, we will roll out our staking protocol. Holders who stake their Nomad will earn $NOMD tokens daily, used to participate in the Nomad economy.
One of the first use-cases for $NOMD will be The Summoning System. Holders can attempt to summon a 1/1 by using one $NOMD token and at least one Nomad NFT. The probability of a successful summon depends on two factors:
- Number of Original Nomad NFTs held
- The rarity of Original Nomad NFT/s
Aside from the 1/1s, each summons attempt may yield other prizes, including NFTs, Allowlist spots, and physical products (more details to be released at a later date alongside summoning probabilities)
The event has been designed to last for a month. It may end much earlier. We can only set probabilities; we cannot set outcomes. In the event that there are unsummoned 1/1s after a month, we will increase the odds accordingly.
Once 5 Nomads have been summoned, the final 1/1 will be raffled. There are no limits to the number of entries, with each $NOMD token equaling one entry.
While we can’t give everyone a 1/1 (as this would defeat the purpose), we have designed a system where our early supporters can win a 1/1 from our genesis collection through their staking rewards. The staking aspect of our project is not unique; many others offer something similar. Summoning is our first chance to showcase the creative ways we plan to provide future utility. This is just a fun little warm-up compared to what we have in store.
Until next time,
Fetty
