Play to Earn — Public Access to the Private Round: Update!
Article highlights:
We’re extending whitelist private token access to new subscribers, until we reach 5k total.
This new private token group will have access to a smaller allocation than the early subscribers.
We discussed ‘private investor token’ vs ‘fair launch token’ principles in our previous article (below), and concluded that there are benefits to both approaches — And so we launched a ‘Private to the Public’ (PTTP) campaign for Wonderman Nation, in an attempt to see if there might not be a better way to launch a play to earn game and token — Read on below to find out how it’s played out so far, and to see what’s next.
For a quick summary, since launching the campaign we’ve had:
- 3k subs to our whitelist newsletter
- 2.3k followers on Twitter
- 1.1k retweets of our campaign post
- 1.5k subs to our Telegram announcement channel
- 500 subs to our new Telegram community channel (started post campaign at the request of the community)
- 2.5k new accounts at Pavillion Hub (our blockchain gaming platform)
We’d set a target of 1k subs for the campaign to go live. Which we hit. And so it did.
What stage is the campaign at now?
The campaign going live has meant that we are now committed to delivering it, which has also in turn meant that we’ve needed to build some new features into Pavillion Hub for it to:
- Connect to other campaign sources to verify whitelisting
- Assign token access cohort groups based on sign-up dates
- Take into account the collection of a specific NFT to append an existing cohort (more on this in our future follow up article)
- Add timing’s into the cohort rounds so that they can auto start/close
- Include maximum token allocations per cohort
- Revise some aspects of our account/payment gateway technology to allow even more flexibility when checking out
And all this on top of the usual token launch workload, which is generally not insignificant.
How we’re doing the token sale differently
Generally launchpads require participants to hold a token generated by the launchpad to have access, whereby larger token holders are given first dibs, they have minimum buy-ins, they have a very short window of opportunity to purchase (sometimes around 10 minutes), and, if selling an Ethereum based token, the tokens might be missed out on due to network congestions, and the gas fees are high.
For our PTTP launch on Pavillion Hub:
- We don’t require the holding of any platform tokens
- Whitelisters are given priority based on a ‘first in’ basis, sorted by cohorts
- Cohorts have been promised the opportunity to purchase their full allocation
- There’s no minimum token purchase
- Each cohort will be given a few days to collect their allocation — To avoid missing out due to timezones or technical issues, and to avoid any rushed FOMO purchasing decisions
- Whitelisters can purchase tokens using numerous cryptocurrencies or fiat currencies using credit card or PayPal
- And we use Phantasma Chain as our minting blockchain, so transactions are fast, energy efficient, and carbon neutral
We think that these are all great things, however, it does present us with some issues to contend with, around balancing the token allocations.
We need to set aside enough tokens on the assumption that every whitelister might collect their full allocation, to guarantee that no-one receives less than their promise, while also knowing that not all whitelisters will take up the full allocation that we’ve set aside for them, which makes this a sale of two halves.
We’re reviewing a follow up token purchasing round where all whitelisters are given a second chance to purchase token from the remaining token pool … to be continued.
How do the cohorts work
Our initial campaign set targets in 1k whitelisting lots, with a campaign close date of the 3rd of October.
Cohort #1 — The first 1k whitelisters.
This group will have first access at the full token allocation.
Cohort #2 — Every subscriber post 1k, and before the campaign close date.
This group will have second access at the full token allocation.
Cohort #3 — Every subscriber post the campaign close.
This group was initially slated to not have access to the private token round, though they would get access to the follow up public token round, coming in some months.
However, due to many community members in cohort 3 feeling as though they’ve still discovered our project very early, which they have, and so were disappointed that they missed out, we’ve decided to extend the private token access, albeit a smaller amount, to all subscribers that subscribed after the 3rd of October.
This new cohort 3 access will close once we reach 5k subscribers.
We’re currently sitting at 3k subscribers, so there are now 2k more places available for the private token round.
PTTP token allocations
Anyone interested in the Wonderman Nation tokenomics, we encourage you to read our whitepaper for the complete allocation and unlock schedule for both the WDMN governance token, and the NKTR utility token.
In brief, the entire private token round is 4% of the total supply, which is:
- WDMN — 20,000,000 tokens
- NKTR — 2,000,000,000 tokens
And from this, for the private to the public pool, we’re initially setting aside:
- WDMN — 12,000,000 tokens
- NKTR — 1,200,000,000 tokens
This represents 60% of the entire private token round going to the PTTP campaign.
Token allocations by cohort
During the token sale, we’ll be allowing whitelisters to purchase both the WDMN and the NKTR token.
The maximum allocations per cohort (for the first round) are:
Cohort #1
- WDMN — 6,500 tokens
- NKTR — 650,000 tokens
Cohort #2
- WDMN — 6,500 tokens
- NKTR — 650,000 tokens
Cohort #3
- WDMN — 1,300 tokens
- NKTR — 130,000 tokens
As mentioned earlier in the article, we are reviewing running a second chance for each cohort to purchase more tokens out of any tokens remaining in the PTTP pool that we’ve set aside. We will review this towards the close of the first round of sales.
What about the private investors?
As discussed in our previous article, private investors bring a lot to the table, outside of just capital. Investors work with dozens, to hundreds, of projects, they have connections to influencers, exchanges, launchpads and press, and they bring a lot of advisory of experience.
We’re working with a number of investors who are joining us for the private token round, and, as it turns out, the public investors are excited, and in some cases, insistent, in having them join us.
Would we recommend a PTTP token campaign?
We’ve definitely had some learnings along the way, and there are a number of pro’s and con’s to running a private/public mixed round.
We’ve identified a number of ways to improve any future PTTP campaigns, which we’ll be discussing in more detail in a follow up ‘Round 3’ post. So be sure to follow us and keep an eye out for updates if you’re interested in learning from this experience.
In the meantime, if you’ve enjoyed the read, then we’d love to have you follow us on our socials so that you can connect with us, and keep up-to-date with our progress.
Telegram
Wonderman announcement channel
Discord
Wonderman Channel (Pavillion Hub Server)
