//State of the chikn — no. 2
Rarities, Traits, Sales Bot and more!
gm gbok, nc!
Since our last ‘State of the chikn’ update halfway through the mint, things have moved very fast indeed. The rate of minting seemed to have slowed down at the 50% mark, and the team was pushing marketing as hard as possible to gain traction.
Suddenly, close to the 55% mark, the rate of minting picked up again almost as strongly as when minting opened. We still aren’t sure exactly where this wave of interest came from, but it is important to note that the chikn were distributed widely, and it pushed us to the end of the mint within the next 48 hours.
The strong performance of AVAX and increased interest in the ecosystem definitely gave us tailwinds, and our organic, product-first approach paid off!
We reached 100% mint within 7 days of the opening, and we are absolutely astounded by the community response. We want to thank all participants for embracing our vision and growing the coop into a burgeoning community.
We are working our hardest to build out the chikn vision. If it isn’t already abundantly clear, chikn is a homegrown project from a team of 7 individuals with no venture capital or institutional ties.
Our team consists of career professionals and serial entrepreneurs from blockchain, software development and digital arts — plus a healthy sprinkling of crypto degenerates.
We firmly believe our passion gives us a level of authenticity and mimetism which big money cannot replicate. It also means that we can build this project together with our community, based on real-time feedback and input.
That being said, we will not take our organic roots as an excuse for underperformance. We are building as hard and as fast as possible on multiple fronts. The proceeds from the mint allow us to scale and scale fast.
These state of the chikn updates will be flowing regularly to keep everyone up to speed!
Twitter Bot
We have been working with a community member to build a twitter sales bot, which is NOW LIVE!
Follow the chikn_bot for realtime chikn sales data!
We have also created a #chikn-sales-bot channel in the chikn discord so that people can stay up to speed!
Massive thanks to LooksRareNFTs for his expertise and speed of delivery.
Secondary marketplace
We are continuing to improve our secondary marketplace every day. There have been a number significant improvements from the release, and we would like to specifically thank the discord community for their ongoing feedback.
A lot of these updates have been quality of life and interface updates. Improving the marketplace is an ongoing process which is critical for facilitating future projects on our platform. The next major update to come for the market is a comprehensive rarity reveal!
Rarity Reveal
We have used standard rarity metrics to calculate the token ranks and rarity scores. Each chikn has 8 attributes (body, background, head, feet, torso, neck, trim, tail) plus a ninth attribute for the count of attributes (between 2-8, every chikn has a body and background).
The rarity scores of these attributes are calculated based on the same method as Rarity Tools. Each attribute is filled with a trait, which has a rarity score equal to the inverse of its percentage frequency across the entire set.
Example: if a trait appears 1000 times across the set of 100000 (10% frequency) then its rarity score is 1/0.1 = 10. Summing the rarity score for each of the 9 traits across every attribute gives the total chikn rarity score.
The rarity tiers are then based on the percentiles of rarity scores, an arbitrary way to divide up the rarity scores into buckets. The seasoned trader will be mostly concerned with rarity scores, but rarity tiers are a lot of fun and easily digestible.
They work by examining all the traits in an attribute slot, and ranking them as a percentage. This standardizes the rarity across each slot as a number from 0-100, making them easily comparable across attributes. The same method is used for the total chikn rarity score across the entire collection.
Different percentiles were used for traits and chikn rarity tiers, to deliver a distribution that was both fun and tradeable. The distribution of trait rarity differs from the distribution of total chikn rarity, so we have reflected as such.
For the total chikn rarity, the percentiles will represent a percentage of the total supply in that tier.
10 chikn are unique,
190 chikn are legendary,
600 are elite,
1200 are rare,
3000 are nice,
5000 are common.
Note for all you builders and degen NFT traders out there, this type of standardization (percentiles) is only required if the number of traits across the slots is not even. If you have the same number of slots per attribute (e.g 10 arms, 10 legs, 10 heads etc) then this step is unnecessary.
Closing sentiments
Please note, and note it well, that Rarity is only one metric that comprises the potential value of your chikn. There are several others:
- Aesthetic: its overall appearance and mimetic desirability.
- Size (kg): and its Rate of egg-laying,and finally…
- In-game potential: each trait, and at times lack-thereof, corresponds to an in-game attribute variable in a future release coming to the chikn platform.
This is but one of the many ways the supply of $egg will be burned…
bok bok!
— the chikn team
