The Story of the Royale Queen of Queens NFTs
Royale enters the red-hot NFT industry with a flurry of sales from the Royale Mint, demonstrating the versatility of the ROYA token.
The previous weekend the Royale Kingdom suddenly was gripped with NFT fever. Though we introduced our lovely lady, the Queen of Queens (QoQ), NFT in a January 21 post, the recent success of CryptoPunks, SuperFarm, Ethernity and other NFT-based projects shined a spotlight on the NFT collection from the Royale Mint.
Through a series of tweets and engagement in the Telegram community, we reminded the loyal members of the Royale-ty of our smash-up deal available to Queen of Queens NFT holders. Simply put, the intrinsic value of a Queen of Queen NFT was initially pegged at 10,000 ROYA.
This 10,000 ROYA value was to be realized through a series of airdrops totaling 7,200 ROYA as well as a permanent value of 2,800 ROYA as a “discount card” for acquiring a Queen Staking Lot once our mainnet platform goes live. If you have a short-term view of the Royale project, it is reasonable to price the value of 10,000 ROYA at the market price of ROYA, which over the past couple weeks has ranged between $0.60 and $1.25. With those prices in mind, the intrinsic value of a QoQ prior to its full complement of airdrops ranges between $6,000 and $12,500.
However, if you have a long view of the Royale token economy, it is reasonable to price the value according to your expectations of the future value of a Queen Staking Lot. In addition, as the Royale NFT economy expands, there may or may not be some value ascribed to the collectable value of the very first NFT to be produced by the Royale Mint. As the speculative nature of the value of a collectable effects all NFTs, let’s focus on describing the intrinsic value we can control — the Queen Staking Lot that will go live with our DeFi platform on mainnet.
The Value of a Queen Staking Lot
At the core of the Royale ecosystem, driven by the ROYA token, is one of the core ideas of DeFi in general — optimized stablecoin liquidity pools. When such liquidity is not used to bankroll iGaming platforms, a portion of the contributed liquidity will be unused. However, the Royale ecosystem relies upon liquidity as an essential piece of the recursive crypto economics designed into its functionality. A lack of liquidity might create a negative network effect; lack of liquidity leads to dissatisfaction of iGaming platforms that might leave the ecosystem. Those departures lead to fewer investment opportunities for the Royale Network, which leads to a decrease in liquidity provided by Royale users, leading perhaps to a vicious circle of declining TVL and community participation.
The tri-level Staking Lot system is designed to encourage liquidity provision and bring long-term value to the ROYA token. In essence, stakeholders can participate in the platform rewards without having to provide stablecoin liquidity, if they stake their ROYA tokens. Upon mainnet, there will be three types of staking lots available to ROYA token holders:
- Royale Queen 👸🏻 (10,000 ROYA)
- Royale King 🤴🏻 (100,000 ROYA)
- Royale Flush ♦️♠️♥️♣️ (1 million ROYA)
Though there will most definitely be other ways for ROYA token holders to stake their tokens for rewards, these Staking Lots will derive a significant portion of the rewards earned from deploying advanced DeFi strategies on the cryptoassets staked into the Royale Stablecoin Liquidity Pools. Thus, it is incumbent for stakers to accumulate their ROYA token stack today, before mainnet. Initial staking lots on the Hegic platform, on which the Royale code is based, proved to be quite rewarding.
That is the main point of the Queen of Queens NFT, only available on OpenSea in the ROYALE RARITIES collection. Owning a Queen of Queens NFT will forever reduce the threshold to access a Royale Queen Staking Lot from 10,000 ROYA tokens to 7,200 ROYA tokens. That is what we mean by “the intrinsic value” of the NFT.
Airdrops for Queen of Queens NFT Holders
Now, of course, in conjunction with the sale of our first NFT, we wanted to do something special. As well, we wanted to make it easier for our Royale community members to acquire their first Queen Staking Lot. (Yes, you can own more than one Staking Lot!).
Once the first half of the Queen of Queens were sold, we initiated the following bulksend transaction to distribute ROYA tokens to Queen of Queens #1–36 NFT holders:
At that point, we faced a conundrum. There were then Queen of Queen NFTs that had received the airdrop, and some that had not. Once having received the 4,800 ROYA airdrop above, some bad actors immediately put up their NFT again for sale on OpenSea at the same 3.99 ETH price, as if they had not already received two-thirds of the ROYA airdrop. Thus, we halted the distribution of the second half of ROYA airdrops in order to protect the community. We didn’t want them buying a #1–36 Queen under the assumption that they would still be receiving 7,200 ROYA in airdrop!
In order to try and avoid this complication, we alerted the community that #s 1 through 36 would only be getting one additional airdrop of 2,400 ROYA and not the 7,200 ROYA they were being priced at on OpenSea. We also publicly called out those OpenSea sellers who were trying to benefit from this information asymmetry.
However, we realize that we cannot delay the ROYA airdrop to worthy Royale Queen of Queens (QoQ) NFT holders just because of a few bad apples. Hence, we have now distributed the ROYA airdrop to those QoQ sold in the #s 37–72 batch, the transaction of which you can see here:
The addresses that received these airdrops in the two transactions above will receive an additional 2,400 ROYA airdrop on April 1st. However, we will be double-checking that the address still holds that QoQ NFT before initiating the bulksend. It is important to note that whichever address holds the NFT on April 1st will receive the final 2,400 ROYA airdrop, not the initial purchaser. Remember that the intrinsic value of the QoQ NFT, even after the airdrops have passed, will forever be 2,800 ROYA.
Available Queen of Queens NFT With Full Airdrop Rights
That leaves us with the question of what to do with the remaining Queen of Queens NFTs. First of all, let’s highlight the QoQ that still have FULL AIRDROP RIGHTS OF 7,200 ROYA. Those are QoQ with the following number:
42, 47, 49, 54, 56, 57, 58, 61, 62, 64, 65
If you fancy any of those numbers, we suggest you meet the auction price. Or at least put a bid on them… you never know!
48 Hours Left in the NFT Sale
We are going to leave the numbers above up for sale for another 2 days after this post. At that time, any remaining Queens will be made available as promotions to the community as well as in a yet-to-be-announced Royale DeFi product. Stay tuned!
If you’re coming to this post a bit late, you can see the countdown here.
The Queen of Queen NFT is only the first NFT in the Royale Rarities collection. Not all of them will have airdrops. Not all of them will be forever tied into the ROYA token economy. But, for sure, some of them will have airdrops and some of them will be tied into the ROYA token economy.
All of the crypto art in the Royale Rarities NFT collection will adhere to the same high artistic quality as set by our lovely Queen 👸🏻, who will now set off on a whirlwind journey of the world for the next 48 hours before she is whisked off to the Royale Mint for the foreseeable future. You gotta catch her before she won’t be available on the primary market anymore!
About Royale Rarities
Own a timeless piece of the Kingdom, The Royale Mint presents its limited edition NFT collection, celebrating the milestone moments of a reign like no other. The commemorative serialised rarities are commissioned works crafted by esteemed artists that bring to life the story of Royale. Each one is a unique timestamp in blockchain eternity. Possess an iconic moment in time that is truly yours, forever.
About Royale Finance 👑
Royale Finance is an industry-focused decentralised lending protocol. Its purpose is to create Web 3.0 smart-backed funding solutions using DeFi primitives in order to support the innovation of iGaming products and platforms. The combination of iGaming returns, uncorrelated to DeFi cryptoassets but powered by base layer DeFi protocols, we call iGDeFi.