Gigaverse is turning its factories into a museum. Admission is paid in factories.
Giga Legends, the new flagship Ethereum collection: no allowlist, no public sale. Nov 16 to Dec 1, the only way in is conversion.
GLHFers: airdropped 1:1 as Legends, art kept. ROMs (Abstract): burned for points. 24 points per Legend. A Silver ROM is worth 3. A Void is worth 36. So one Legend takes eight Silvers. Group project.
The market did the math fast. ROM floor down 42% in 24 hours to ~0.027 ETH. Volume up 2,000%+. GLHFers down 23%. Eight cheap ROMs (~0.22 ETH) now cost about the same as one GLHFer (~0.24 ETH). Arbitrage, but in pixel art.
Follow the Value: ROMs were sold as resource factories. Legends earn no yield, pitched as "purely collector-grade." Fixed supply, no more collections, and the team skipped rewarding players and partners because it "would just dilute the conversion for our holders." Credit where due. But the yield didn't make the trip. Only the JPEG did.
Winners: GLHFer holders and whoever sweeps the panicked Silvers. Holding the bag: anyone who paid factory prices and now owns 3 points. Leftover points go to gacha machines. Naturally.
Most honest NFT model in gaming, or a nicer way to say the factory stopped paying?