Everything you need to know about the MonoCats Ethereum migration
A few weeks ago we have announced that we are migrating to Ethereum, and I anticipate most you will have different question or comment about it. Therefore we host an Twitter Space AMA in Oct 20th and we are happy that our community member are active and address their questions.
Here is the transcript of the AMA with the question from the community. If you have any further question, you can drop a comment in here or post it in our Discord, we are more than happy to help you.
Our Migration: How & When
Apparently, migration will bring thousands of new members in our community and this will significantly increase and stabilize our floor price and future tokenomic. As you can see, the floor prices in Flow have been raised from 2 Flow to 10 Flow after we made the announcement.
Beside the floor prices, I would like to emphasize more on the migration itself and what we can bring to the Ethereum community. We are one of the most active NFT projects in Flow blockchain, with a strong and geography decentralized community.
I have received some people asking about whether or not they can keep the NFT in Flow. We issue the NFT, but as soon as it’s issued, we don’t own them anymore. You as the holder of NFT own the NFT itself, it’s your assets so you have the final decision. Therefore the whole migration is volunteered.
There will not be new NFT mint or NFT sales in Ethereum, all the Ethereum MonoCats will be migrated from Flow. The current MonoCats have finished their duty, so we are calling them back and sending the new adventure from Meow planet. To establish the new space channel, human adopters need 5 old MonoCats to exchange for the new blindbox.
The new blindbox will contain brand new MonoCats (which you can call them MonoCats Evolved!). All the new MonoCats will have new gestures, skin and etc. Which means after migration you are getting a brand new MonoCats, or let’s MonoCats 2.0.
I wanna emphasize again you will always have the choice to keep the MonoCats on Flow. But once the migration is down they are returned to Meow Planet and we can never bring them back. Please keep in mind that we might not provide further support in GameFi for the NFT in Flow ecosystem.
As the date. We aim to open the migration portal at Nov 10th which is a few weeks later. We are the first NFT project moving from Flow to Ethereum, so bear with us for some time for that. We all know that Ethereum & Flow use different program language, it’s complicated to build a bridge between it.
Lastly, I am here to request everyone to support our growth. It’s a personal request but I hope you can share your MonoCats on Twitter with a hashtag, change your profile picture into MonoCats. We wanna build a real blockchain native IP with an enjoyable and profitable GameFi, it’s a long and difficult way, and I sincerely hope that cats can help cats.
Q&A Section
When will the migration start and how do I know?
We are aiming to start the process at Nov 10th, but it might be delay as mentioned above. The process will be test in testnet first, and when will keep update the process in our social. Our Twitter (@MonoCats_eth) is the fastest way for the updated, or you can subscribe our newsletter as well.
When is MonoCafe game coming out ?
Unfortunately, we might have a significant delay for it, since our pervious design is all based on Cadence and Flow. We are aiming to bring them live in the 2023 Q1, but this mostly depends on our migration process.
What happens to the floats drop monthly ?
For the pervious float, I know people loving it, so we are going to help you migrated it to Ethereum as well. Due to the migration process, we are pause the float drop of October, but we will resume them as soon as we are ready.
Do float owners keep receiving float owner rewards after the migration for ETH ?
The purpose of float is to incentive our community growth. So we might change the rule if we think the new rule will be better for our community.
How many MonoCats NFTs do I need to transform into a new MonoCats: Evolved! NFT on ETH ?
You will need 5 MonoCats NFTs to transform into a brand new MonoCats: Evolved! NFT.
What if I don’t have 5 MonoCats for the migration?
You have three choices for this. To keep it, buy 4 more in MatrixMarket or sale it.
Can I use MonoCats NFT’s that are on the Flow Blockchain for the upcoming games?
Since Flow using different technology from Ethereum, we are unable to provide utility in the game for Flow users. That’s why we highly recommend you to migrate the NFTs.
How about the special NFTs?
They will be migrate 1 on 1 with a new collection called MonoCats: Yokai.
What am I expecting in Ethereum?
That’s a large question, but if let me summarise it: better user experience for holding and trading NFT, larger community and bigger space!
I don’t know what is Ethereum?
Ethereum is the most welcome blockchain across the world, you can learn more with Ethereum Foundation.
