As described above, the Kirkstone Founding NFTs will have a variety of utility. There will be three types of Founding NFTs available. A total of 1000 Founding NFTs will be available to mint, with the type being random upon minting. The types of NFTs are:
Community tier = 700 NFTs
Rare tier = 230 NFTs
Legendary tier = 50 NFTs
Team tier = 20 NFTs
The specific utility of each Founding NFT type is detailed below in the table.
The NFT not only has priceless utility within our space but also will be designed to have a real collector's item feel. Each NFT will consist of a unique collectible card - with the tier level / rarity specified on each.
On the back of the card will be a teaser to our new NFT marketplace branding.....
It will have the blurred logo/branding for our NFT marketplace. Once all NFTs have been sold, the NFT marketplace logo and branding will be revealed!
NFT will be random at minting, hence the price point of the founding NFTs will be universal. To come up with a fair but also favourable price for our community, we utilised the value of the KIRK rewards from the NFT staking and the additional ISPO rewards to calculate this value. Therefore, all other utility of the NFT is a bonus and was not considered in the pricing. Here are the assumption used to calculate the value of each NFT:
Value of KIRK considered = $0.015 per KIRK (this is the public sale price/price at ISPO)
Available form NFT staking = 4 million KIRK in total (0.25% of token supply)
1.5 million KIRK estimated for NFT holder's ISPO rewards over ISPO lifetime (hopefully an underestimate...)
Discount factor for ISPO rewards = 0.75 (25% off)
NFTs eligible for ISPO rewards = 980
( ( Total USD value of NFT staking rewards ) / ( Total number of NFTs ) ) +
( ( Total USD value of ISPO rewards x Discount for ISPO rewards ) / ( Eligible NFTs ) )
= ( ( $0.015 x 4,000,000 KIRK ) / ( 1000 total NFTs ) ) +
( ( $0.015 x 1,500,000 KIRK x 0.75 ) / ( 980 eligible NFTs ) )
= 167 ADA per NFT
*Price listed with 1 ADA = $0.46.
STAKING FOR KIRK TOKEN:
Staking opportunities for $KIRK will follow the vesting period for our 'Reserve' allocation. For more specific details on this vesting structure visit https://www.kirkstone.io/token. A definitive date cannot yet be determined for TGE for KIRK, it is expected in Q2 2023 - but is subject to change.
The holder of the NFT at the time of whitelist will have their wallet address automatically whitelisted. This reward is for any of the real estate type of NFTs we release on our Kirkstone NFT marketplace. The NFT holder will only qualify for the first whitelist of each type of NFT we produce (i.e property equity NFT, Mortgage etc.). A definitive timeline for this cannot be confirmed (expected Q3 2023, but subject to change).
BENEFITS FROM ISPO (ended):
The benefits from the ISPO do not stack (i.e. if you hold two NFTs with both entitling you to 50% bonus rewards, you will only receive 50% bonus rewards in total. The ISPO ended on April 20th 2023. Snapshots of NFT holders were taken each Epoch, the reward you receive was based on the highest rarity NFT that is within the wallet. Rewards distributed May 17th 2023.
ACCESS TO KRM TESTNET:
The holder of the NFT will gain access to the KRM testnet once available. KRM testnet expected Q4 2022 but subject to change.
ACCESS TO ERDOS TESTNET:
The holder of the NFT will gain access to the Erdos testnet once available. Erdos testnet expected Q2 2023 but subject to change and result of Fund 9 voting.
COMMUNITY FUNDING WHITELIST:
The holder of the NFT will have their wallet whitelisted for our community funding rounds. This will be primarily from our Public sale round but may include a community seed round for initial investment into Kirkstone.
PLEASE NOTE: Kirkstone will keep hold of all 20 TEAM tier NFTs for team members and partners. Also Kirkstone will keep hold of 5 RARE tier NFTs for giveaways to the community in the future.
Terms & Disclaimer
PLEASE READ THE ENTIRETY OF THIS "TERMS & DISCLAIMER" SECTION CAREFULLY. NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION HEREWITH. NEITHER KIRKSTONE ASSET MANAGEMENT LIMITED (THE COMPANY), ANY OF THE PROJECT TEAM MEMBERS (THE KIRKSTONE TEAM) WHO HAVE WORKED ON KIRKSTONE (AS DEFINED HEREIN) OR PROJECT TO DEVELOP KIRKSTONE IN ANY WAY WHATSOEVER, ANY DISTRIBUTOR/VENDOR OF THE KIRKSTONE NATIVE TOKENS (THE DISTRIBUTOR), NOR ANY SERVICE PROVIDER SHALL BE LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOSS WHATSOEVER WHICH YOU MAY SUFFER IN CONNECTION WITH ACCESSING THE WHITEPAPER, THE WEBSITE AT HTTPS://KIRKSTONE.IO/ (THE WEBSITE) OR ANY OTHER WEBSITES OR MATERIALS PUBLISHED BY THE COMPANY OR PURCHASING OUR NFT PRODUCTS.
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