Memeland has finally publicly released what the mint for their collection of Captainz will look like for the NFT space.
Six months after the You The Real MVP mint, and five months after The Potatoz mint, we have finally started to receive details on one of the most anticipated and hyped mints that has been months in the making, the main collection of Captainz. Today during their townhall,
The good news is it is only a little more time until we are able to see The Potatoz set sail on the open seas with their Captainz. So, let’s take a look at what you can do to make sure you secure your space on the endless hunt for the lost treasure of $MEME.
First of all, to answer one of the loudest questions in the Twitter spaces today of “Wen Mint?”, 9gagceo has set the day of Captain arrival to man their crew as January 4th, less than one month from today. They have also answered one of the most important questions of how much it will cost to free your Captainz from their imprisonment of the Memeland gulag, and that will be 1.069 eth.
This may seem like a steep price to pay to provide the Captainz their freedom, but it actually came in much lower than expectation, which was 1.69 eth. One of the hardest things in the NFT space is to compare the mint cost of one project to another project as demonstrated in this tweet from 9gagceo, his quote at the end also sums up one of the biggest issues that I constantly see in the NFT space that, “Comparing prices without comparing what we are buying is just meaningless.” This project, and what they have built in the past and what I expect them to be able to build in the future, feels very justified at that mint price.
Now for a few more of the important factors in play with this mint, one of them being that there will be no public mint, the only way to be able to submit a claim is if, You have Memelist, you own a MVP NFT, you own a Potatoz NFT< or if you are gifted one of the three waitlist codes that Potatoz holders will be able to distribute. If you qualify with one of the above, this mint will be broken down into multiple phases.
Phase 1: Open Claim Window
At the beginning of phase 1, is when the claim window will open. There will be two types of claims during this phase, guaranteed claims and un-guaranteed claims. You will be able to make a guaranteed claim for a Captainz if you fall into the following categories; One guaranteed claim per each memelist spot you hold and one guaranteed claim for every three Potatoz you hold in that wallet.
During phase one, you will also be able to buy your un-guaranteed claims as well, these claims will breakdown as follow; You can buy one un-guaranteed claim for every one Potatoz you own, minus your already guaranteed claims. For example, if you have 3 Potatoz, you will be able to buy one guaranteed and 2 Un-guaranteed claims if you would like. It is also worth noting that you pay for all claims at the time of claim during this phase, regardless of whether they are guaranteed or un-guaranteed.
This will not function like a normal mint where you will instantly know whether you succeeded or failed, but will work in the same manner as the MVP mint, where you will be sending the eth to a team wallet, and all un-guaranteed claims will be timestamped on the blockchain at the time of sending eth and used to place you in the queue for the un-guaranteed claims.
Phase 2: Fullfilment of Guaranteed Claims
This phase will be short and simple and will be activated after phase one has come to an end. During this phase all guaranteed claims will be fulfilled and the remaining supply will be calculated.
Phase 3: Fullfilment of Un-Guaranteed Claims
After the remaining supply is calculated, the team will begin to fulfill the un-guaranteed claims on a first come, first served basis all based off of where your timestamp of your transaction has placed you in the que.
The only advantage that you can have during this current stage is to hold a MVP NFT from Memeland, as all MVP holders who place an un-guaranteed claim will be bumped to the front of the line in this phase regardless of the time stamp. After the MVP claims are filled, the rest of the un-guaranteed claims will be filled in order of the time stamp, with each person being fulfilled one at a time.
For example, the claims will go in order the same as getting pizza at a pizza party, you can list yourself down for multiple slices, but you will only receive one slice at a time until everyone has had a chance to go through the line, and once everyone is served, if there are any slices left the front of the line will have a chance to receive a second slice until it is completely gone. Once a wallet has exhausted all of its claims it will be removed from the process and the order will continue from there.
Phase 4: Airdrop and Refunds
All successful claims whether they were guaranteed or un-guaranteed will be airdrop at the same time. This is a great mechanism because it will not allow there to be supply hitting the market early so it will be able to find a natural price discovery for the collection.
Also this mitigates any gas wars for the collection. While we will more than likely see people crank up the gas to send the eth during phase 1, the amount of gas needed to send eth is significantly lower than needed to mint, and all gas for the airdrop will be covered by the team. Also during this phase all refunds will be issued for all unused claims.
Overall, I am personally very excited for this mint and what is to come from this team, this is a team I am personally willing to bet on for the long term, but with that being said the NFT market is very speculative and anything can happen. If you would like to check out my original thoughts on the project and what they are building you can check out my previous