- KI to start selling on a valuation curve, starting a Dutch auction with initial price of $0.50.
- GENE stakers will be the first to receive KI.
- In-game NFT now at 74 SOL floor price.
Genopets reached the promised deadline of launching its KI token, boosting the potential for in-game earnings. The KI token will be distributed in several rounds, starting with rewards for GENE token stakers.
The KI token will make its debut on June 20, while also establishing a price setting mechanism. After the initial 20M KI airdrop to GENE stakers, the price setting will begin, with a sliding auction down from $0.50 per KI. The Dutch auction period will last for three days, or until the tokens are sold out, whichever comes first.
Buyers can exchange USDC for KI, thus either waiting out for lower prices, or pushing the price higher. KI will not be received for holding any of the NFT assets of the game. Early potential buyers can watch for the sale link to go live in the coming days. KI chose this sale model, instead of using a competitive sale or a launchpad, to also generate a floor price. This way, the token sale uses techniques from NFT mints, while helping the value of the game economy.
KI is Key to In-Game Achievements and Advancement
KI will be earned by Habitat owners and for in-tame quests. The token will speed up crafting and Genopets upgrades. GENE will retain its staking and reward functions, serve as a leaderboard prize and work to boost NFT creation.
Genopets is also working toward keeping most of the in-game rewards within its metaverse. Even GENE stakers will receive KI and sGENE, which will not be initially traded on exchanges. The incentives to use tokens for game advancement mean Genopets is moving away from the initial P2E model, where cashing out as fast as possible was the biggest incentive.
The game’s advancements also rely on XP points and Crystals, which can be crafted within the game. Genopets is one of the most prominent move-to-earn games, with a free mode and ways to speed up progress.
Genopets playable creatures are also resold on OpenSea, with a floor price of 74 SOL. The pets are used in a similar way as sneakers on STEPN or StepApp, granting an advantage for future game earnings.