Nov 10, 2022
Code: Magi [Founding Tomes]
A Unique Mint Structure
The time is almost upon us for Code: Magi’s genesis collection; The Founding Tomes to launch!
We’re not going for the traditional approach with our mint.
Let’s dive into the details…
The Founding Tomes
We should start by briefly summarising the Founding Tomes collection, as the format of the collection is what has enabled our custom mint approach.
The Founding Tomes is a collection of 2500 ERC721 tokens, of which there are only 12 different variants, meaning that on reveal there is only 1 property to be generated per token based on a single set of percentages.
“Magic Type” - Percentages
16% - Water
14% - Fire
12% - Nature
12% - Voltage
11% - Toxic
10% - Crystal
8% - Necromancy
6% - Metal
5% - Blood
3% - Elemental
1.5% - ???
1.5% - ???
For our mint we have divided this list into 4 categories of rarity based on their overall rarity percentages within the collection:
Common(C) - Water & Fire
Uncommon (UC) - Nature, Voltage & Toxic
Rare (R) - Crystal, Necromancy & Metal
Ultra-Rare (UR) - Blood, Elemental & the 2 x as-of-yet unrevealed Magics
Mint Phases
The Founding Tomes will follow a 3-phase mint:
Phase 1 - MagiList (WL)
Phase 2 - MagiList + OGs
Phase 3 - Public
Phase 1
The MagiList Phase is exclusively for those on our MagiList.
During the Phase 1 window, MagiListed Wallets will be able to mint 1 x Founding Tome.
Phase 2
During the Phase 2 window, MagiListed wallets will have an opportunity to mint an additional 1 x Founding Tome.
On top of this, an additional list of Wallets will be included for Phase 2. These wallets are those that have been submitted by Discord members with the “OG [Magi]” role, these wallets will also be able to mint 1 x Founding Tome during Phase 2.
Phase 3
During Phase 3, the Founding Tomes will be available to be minted by anyone.
Tiered Minting Structure
After a lot of discussion between our team, advisors & lead developer we have settled on a customised approach to the Founding Tomes mint, we are calling this approach “Tiered Minting”.
During each phase of the mint, future Founding Tome holders will be presented with 3 tiers to choose from: Standard, Premium & Mythic.
Each tier has different rarity weightings, which means that they offer different chances at minting rarer Founding Tomes. The tiers are therefore priced differently to reflect this.
Standard
Rarity Weightings
Common - 52%
Uncommon - 42%
Rare - 5%
Ultra-Rare - 1%
Supply: Approx. 1350
Pricing - Phase 1/2: 0.025 ETH
Pricing - Phase 3: 0.035 ETH
Premium
Rarity Weightings
Uncommon — 37%
Rare — 53%
Ultra-Rare — 10%
Supply: 700
Pricing - Phase 1/2: 0.042 ETH
Pricing - Phase 3: 0.05 ETH
Mythic
Rarity Weightings
Rare — 40%
Ultra-Rare — 60%
Supply: 300
Pricing - Phase 1/2: 0.08 ETH
Pricing - Phase 3: 0.08 ETH
Why Create a Custom Mint Format?
The Founding Tomes collection format presented a unique opportunity to explore our options to build a customised structure for our mint. We believe that the tiered approach that this exploration has resulted in provides future holders with the speculative fun associated with the element of chance, whilst enabling the option to narrow down the range of possibilities.
Due to the Magic Inheritance mechanic present in the Code: Magi ecosystem, providing future holders with the ability to guarantee a higher rarity Founding Tome will present an interesting set of choices & a unique minting experience.
