Mint Details
Genki Mint Details: Total Supply: 8,000 3 Phases of mint: Phase 1: Genki Fair Auction
Supply: 2,500 NFT's (subject to change)
Minimum Bid: 0.04 ETH per NFT
While there is no maximum bid, the most you will pay per NFT is 0.12 ETH, to ensure a fair entry to our ecosystem for all.
24 hour auction, December 1st 12PM EST to December 2nd 12PM EST
MVP benefits (top 10 highest bidders):
Trait of their choice from their 1/1 to be added to trait drop
1/1 PFP with MVP tag at the corner (honorary collection)
10 highest bidders join a round table to vote on various discussions and topics within genki ecosystem
Receive samples of Genki products early to participate hands on in the R&D phase of the production
Displayed on leaderboard during auction
How our auction will work - The minimum bid per NFT will start at .04 ETH. - We will cap the maximum bid per NFT at .12 ETH not allowing the price per NFT to exceed this amount to ensure a fair entry to our ecosystem for all.
We will have a total supply of 2,500 tokens up for auction, we will use an algorithm to calculate the final price of the NFT's which will distribute 2,500 tokens to the highest bidders. Each bidder can bid for multiple NFT's based on the amount of their bid and the final price of the NFT's. Bidders will receive their NFT's immediately at the end of the auction.
Any bids that are above the final price will receive their NFT's as well as a refund of the remainder. Any bids below the final price will receive a full refund. Auction Example: If the total bids equal to 250 ETH for the Genki Fair Auction, that means the final price per NFT is 250 ETH / 2,500 NFT's = 0.10 ETH per NFT.
Bid Example: If you bid 1.55 ETH, and the final price is 0.1 ETH, you will receive 15 NFT's and 0.05 ETH in refunds.
Phase 2: Whitelist Mint
Supply: ~4,500 NFT's (subject to change)
Price: Calculated based on Discord role + final price of Genki Fair Auction
24 hour minting window, December 2nd 1PM EST to December 3rd 1PM EST
Once the Genki Fair Auction is over, whitelist minting will begin 24 hours afterwards.
Whitelist mint price will be determined by an algorithm with the following criteria: Superstar List/Accepted Genkis (WL): 1x mint at 80% of the final price of the Genki Fair Auction
Hall of Fame (OG): 1x mint at 69% of the final price of the Genki Fair Auction Example: If the final price of the NFT's in the Genki Fair Auction is 0.10 ETH, Superstar List will be able to mint 1x Genki NFT for 0.08 ETH, and Hall of Fame will be able to mint 1x Genki NFT for 0.069 ETH.
Phase 3: Public Mint
Supply: Leftover Supply of Whitelist Mint
Price: Ending price of Genki Fair Auction
24 hour minting window, December 3rd 2PM EST to December 4th 2PM EST
Public mint will only happen if the whitelist mint does not fully sell out.
Public mint will be able to mint up to 2 NFT's per transaction at the same price as the final price of the Genki Fair Auction. Example: If the final price of the NFT's in the Genki Fair Auction is 0.10 ETH, you will be able to mint up to 2 Genki NFT's for 0.10 ETH each. Team Allocations + Free Mints for WWL holders will be airdropped after the conclusion of the Genki mint.
FAQ's: Will Genki WL be overallocated?
Absolutely not. Why do a public auction? We are doing a public auction for multiple reasons including market discovery, secondary price action, and accessibility. We want to let the market decide what they value our project at, and we are providing a low barrier for entry. Our minimum bid of 0.04 ETH per NFT allows most people to be able to participate, and provides us ample runway to continue building. We also understand that secondary price action is extremely important, so we are capping the auction at a max bid of 0.12 ETH per NFT, which allows room for secondary price action rather than an un-capped auction. Are there any investors involved with Genki? Genki has brought on board angel investors which have been able to purchase an amount of Genki NFTs during a presale period that will be vested over the course of 5 weeks. These angel investors have been included in a lot of the decision making and vision building of Genki while they serve as an addition board of advisors.
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