Kuroro Beasts Mint

2sCG...Yo2j

24 Feb 2024

An explanation of Kuroro’s Mint dynamics: Golden Tickets, the new Silver Tickets, our Fair Dutch Auction, our reasoning, and some new rewards for our minters!
Kuroro Beasts Banner.

Introduction

Faithful to our long format, this article goes over how Kuroro’s mint will take place in extensive detail.
Transparency is one of our core principles at Kuroro Beasts, and our community knows that.
We will start by talking about the Golden Tickets and how have they performed over time. Next, we will discuss the new Silver Tickets and how they will be minted. Finally, we will give you an open look into our reasoning that hopefully makes sense to you folks!
There are some new surprise rewards for our holders that we incorporated after listening to your feedback. I am sure you will enjoy them, we will reveal them in our next article tomorrow!

Golden Tickets

Backstory

The Golden Ferry Tickets were sold back in January as a way to fund the development of the Game without selling an entire collection with no finished product. By that point, our founders were supporting the project out of their own pockets and the scope + expenses were getting out of hand.
Pretty shiny, right?
The 710 tickets (740 in total but 15 were for the 15 members of the team and 15 were saved for giveaways) went for 0.15 ETH each and sold out in a few seconds.
The process went incredibly smoothly, with people paying as low as $17 of gas per ticket. Only people that won the raffle (for the WL allocations) and were in the, at the time, locked Discord (for public) were able to mint.
No bots minted. Not only that, but our CTO Prof Otium also implemented an anti-bot measure in the contract which caused 15 people trying to bot it to mint, pay the full 0.15 ETH price and get nothing in return. Wrecked.

Performance

For a non-stake-able asset, which was meant for early funding and didn’t really provide much short-term benefit, the Golden Tickets performance so far has been out of this world.
Golden Tickets have gravitated around 1ETH for 3 months since their mint
The floor price has been stable at around 1ETH for close to 3 months already, never dropping more than from 0.75 or going above 1.75 ETH, enduring and maintaining its stability even during the worst of the Bear market we saw a while ago this year.
Even more incredible is the fact that the average number of tickets listed at the same time has been around 15. With a collection size of 740, that is close to 2% listed for, again, a non-stake-able asset. I don’t know if that’s a record or what, but it is pretty insane and shows the trust that our holders have in us.

Redeem For

What you will get when redeeming your Golden Ticket is:

1 Origin Beast.
1 Starter.
1 Golden Badge **new**.
Increased chance of Shiny.

Silver tickets

The rest of the minting, which is not Golden Tickets, will be done via Silver Tickets. Very straightforward and simple to understand, right?
The pretty, new, Silver tickets!

Rewards

We added some spice to the Silver Tickets; with them, you will be getting:

1 Origin Beast.
10% chance of getting a Starter **new**.
10% chance of getting a Gold badge **new**.

How do I get my hands on a Silver Ticket?

There are a couple of ways to get a Silver Ticket:

Get one by participating in Kuroro’s Fair Auction.
Get WhiteListed and purchase one in the WL Silver Ticket mint.

Of course, the third way is purchasing one on the secondary market after mint.

Silver Ticket Fair Auction

Time and Place

Kuroro’s Fair Auction will be taking place at a specific date and time TBA between the 6th and the 9th of May.

Delay?

The contracts for the Silver Ticket mint have been ready for a while.
We were planning to have it take place on April 30th to give us enough time to test the mint out, audit the contracts, and clear any logistic issues.
Of course, on the weekend of the 30th, the BAYC is going to have their land auction. Even with as much faith as we have in our project and our community, we’d rather not risk competing for attention the same week that the biggest project in the entire NFT space is doing a mint.
Minting is a delicate matter and we want to have it go as smoothly as possible for the sake of everyone.

Pricing

The auction is going to be a Fair Dutch Auction, starting at 0.45ETH and dropping by 0.05 every 15 minutes all the way down to 0.15EH.

What is a Fair Dutch Auction?

A Dutch Auction is a type of Public sale where an initial price for an asset is set, and said price drops every X amount of time till it reaches its minimum price. Bidders are free to mint the asset at the current price which will secure their purchase before the total quantity runs out.
A Fair Dutch Auction is a DA with one big difference. Once the final mint is done, the closing price of the auction will set the floor price of all purchases. Everyone who purchased over the closing price will be reimbursed the difference over the final price that they paid.

Reimbursement Logistics

If the price has dropped, after 3 days, we will reimburse every wallet that purchased over the closing price the difference via an airdrop.
If you purchased at 0.45ETH and the closing price was 0.3ETH, you will be airdropped 0.15ETH.
The only condition for receiving the reimbursement is that the wallet must still be holding the Silver Ticket at the time of the airdrop.

Why a Fair Dutch Auction?

We won’t lie to your face by giving you reasons why a Dutch Auction is the only way to keep bots out (we already did it for our Golden Ticket sale and we even screwed the bots up).
We also won’t lie to you and tell you a DA is the only way to keep gas down. That would also be an insult to your intelligence and, again, we already did that in our Golden Ticket sale. Plus, there are a million ways of working logistics around to avoid gas wars if that is your real objective.
Transparency with our community has always been our staple; it is a minimum requirement in our eyes, and we feel (with the quality that we have shown) that is one of the reasons that allowed us to sell the Golden Tickets so quickly. Transparency also explains their performance for this past 3 months. So here are our reasons:

OG Trainer spots are being sold

We have seen our WL spots being sold in the black markets and in multiple projects that we have collaborated with ranging anywhere from 0.15 up to 0.6 ETH per OG Trainer spot. And being sold out in a split second.
We are very flattered by people putting such a high value on our Whitelist spots, but at the same time why shouldn’t our project capture a fraction of that value and help drive the development of the game even further?
You could argue that that can be achieved without a DA, just setting a high price for mint. Yes, that is true, but that is also much riskier. A DA for Public helps us set a higher potential price without risking THAT much; if people are just not buying them at the higher range then so be it, but at least we don’t compromise the entire project and the 15–20 ppl that depend on us to pay their salaries if the spots don’t sell (we imagine they will, but we don’t play around with our team’s bread and butter).

Price Discovery

We have said multiple times we don’t want to be influenced by secondary market prices.
GT floor price as of 25th of April 2022 at 9 PM EST.
We don’t want to be incentivized to manipulate our NFT prices, and we don’t plan around secondary market sales as they are out of our control. We believe in letting the market decide and letting the product speak for itself.
Having said that, GT holders are the first that trusted in our project, putting their money where their mouth is, allowing us to fund the development of Kuroro, and we do feel a responsibility towards them.
Many of them have entered the project after the GT mint, in the past 3 months, and have seen a stable and steady price, set freely by the market, which the public feels is a representation of the quality and opportunity of our project, and we are definitely proud and grateful for that.
We would be terribly irresponsible towards them if we went out and did a super cheap mint now, setting the stage for a market crash for our GT holders.
Our WL spots going for 0.15 to 0.6E in black markets and the Golden Ticket price always hovering around 1ETH after mint have worked as important indicators in our final Price Discovery,
Of course, price discovery is very delicate and hard to measure. We will never know if we got it right until after the mint takes place, but we believe we should be about right. Time will tell. Building a project from scratch, sometimes you have to take risks.
At the same time, we don’t think the price is too high, which would cause a negative impact on our project and our community. Over raising money is a real problem, it has always been true in the startup community, and it is no different in the NFT world. We believe in taking our time.

Finished Product

Kuroro is one of the few projects that I know of that is going to launch with a close to finished version of a game. Actually, 2 games!
We are not just going to sell a bunch of PFPs with a 5 person team and promise a Roadmap; we have been in development mode for months, our core team is 18 strong with 8 Software Engineers in it (Unity, Web, and Web3) and we have not 1 but 2! close to finished games: our PvP Web Engine (designed by 3 Pokémon Pros that are full-time on our team, including one World Champ) and our Unity Immersive Game.
Of course, both parts of our Product will be ever-expanding, the networking for the Unity game is already there to make it an MMO and the PvP game has the potential to be a competitive e-Sport attracting thousands of players with millions in prize pools.
Aside from that, all the assets, Beast art, Beasts gif, over-world sprites, tile-sets, music tracks, sound effects, everything is custom made from scratch to deliver the most unique experience to you guys.

Burn Rate

Kuroro Beasts' core team is composed of 18 ppl, 14 of them working full-time, and the rest working either part-time, on a contractor basis, or a mix of both. This of course without counting taxes (OUCH), lawyer and accountant fees, other people working on a gig or commission basis, software being paid, and other multiple company expenses.
Our current burn rate is somewhere between 1.5 to 2M USD a year and we are still not there in terms of the number of people we want to keep developing this project for years.
We plan for Kuroro to be a long-term project, we are positioned to be the first (and hopefully best) NFT game to really deliver the creature collector game concept and bring it to life. We think this opportunity is tremendous, and well, achieving that vision is freaking expensive.

Putting Money Where Your Mouth Is

The Dutch Auction does allow us for a dynamic that we do enjoy.
This way we cover 3 interesting types of archetypes that we believe will create a healthy ecosystem.

We have the people who have put in the time, love, and effort, who are the OG Trainers, our Whitelisted bunch. Granted, some of them have gotten lucky (which is not a bad thing), won a raffle on another project, or a giveaway from us, but a big chunk of them are people that have just shown a passion for the project and have been with us since the start.
We have the folks that took a risk with us, supported the project from the early days with their hard-earned money, and believed in us by buying the Golden Tickets. And as you can see, they have been well rewarded. We love you guys!
The Dutch Auction would cover the 3rd type of persona that we do also appreciate, the people that put their money where their mouth is. They found a project they liked; maybe they were not the earliest, they didn’t necessarily have the time to grind for WL spots and participate in contests, but they do want to put their money in as an investment, to play the game, or just to show support for the team. We have been approached more times than you would believe by these folks, asking to support us, asking us to buy Whitelist spots, wanting to invest in us. We have kindly but strictly denied those requests, but this will be a good opportunity for them to grab an entry into the game!

WhiteList (OG Trainers) Silver Ticket Mint

Whitelisted individuals are called OG Trainers in the Kuroro ecosystem.
Some of our most beloved community members and followers, which in some cases have been in our Discord since the very beginning back in November 2021 are OG Trainers. We take care of our community and those who support us; we definitely want to look out for them.
Whitelisted individuals will have the chance to mint a Silver Ticket for 50% of whatever the closing price of the Fair DA is, with a minimum cap of 0.15E.
The most that Whitelisted folk could potentially pay is 0.225ETH if the Fair Dutch Auction closing price is the starting 0.45E. The least that they could pay is 0.15ETH.
The WL Silver Ticket mint will take place right after the Fair Dutch Auction, the specific date and time TBA with the DA time.
As of now, we have close to 2000 OG Trainers and the final number will be somewhere around 2.4k.
There are still chances to gain OG Trainer status, giveaways with other projects, raffles for our Golden Ticket holders, Beast naming contests within our Discord, and others, so don’t lose hope if you don’t have it yet!

TELL US MORE!

Tomorrow we will release another article explaining in detail the benefits of each ticket, the new Golden Badge (we listened to our GT holders!), and the day after, another article explaining the logistics of how to redeem your ticket and when the game starts (all will take place in May!)
In the meanwhile, get more informed with:

Kuroro Beasts, Two Games in One (especially the final part with the future, token airdrop, etc)
Beasts Distribution, Rarities, and Reproduction
Kuroro Beasts, Journal I

We leave you with a little sneak peek at how the beasts will look in their cards (not 100% final art!).
Early look at some Kuroro Beasts NFTs. There is a lot of information to convey!