Minting snook-NFTs
Last updated
Was this helpful?
Last updated
Was this helpful?
Minting a new snook-NFT produces two key “objects”. The first is a fresh snook that can be used as a character in Snook, and as such the utility of play. The second is the Trait that is assigned to that freshly minted snook. That Trait, as we introduced in the Ontology above, has two functions. The first is the play utility. The second is serving as Snook’s fundamental, unpegged vehicle for storing monetary value. That value is not directly stored in the snook-NFT as you can see below. The funds ($1.25USD) paid for minting are distributed:
Burned – $0.25USD (20%)
Ecosystem – $0.05USD (4%) to help pay the on-going infrastructure and gas fees
Treasury – $0.95USD (76%). It will then be further allocated:
Pay Per Kill: $0.75USD (60%)
Snook’s Ladder Prize pool: $0.15USD (12%)
LP staking: $0.05USD (4%)
Those of you with a keen eye would realize that although there’s no direct transfer of value into the NFT in the minting process, there is an indirect transfer of value. Specifically, via the Snook economy, i.e., the snook in-game utility and the Trait economy we discuss below. This is offset by the burning of 20% of the $SNK and is reflected through the open market value associated with Traits and Special Skins. Think about it. Can you see it? More about that in Trait Economy.
