Chumbi Valley released and announced its Seed Chumbis, airdropped NFTs to holders, and are now preparing with their first breeding event. This is a once-in-a-lifetime opportunity to produce the first-ever Generation 1 Chumbis. This event includes a special minting option for Seed Chumbi owners and a public sale of gen 1 Pod.
Chumbi Valley is preparing to hold a special breeding event. One that may allow Seed Chumbi Holders to make the first generation 1 Chumbis by raising Pods on the Mystic Tree.
Key Points of the Breeding Event
- Seed holders can breed two of their Seed Chumbi NFTs to receive two complimentary Gen 1 Chumbi Pods.
- The Seed bearers’ Gen 1 Pods will have an increased possibility of hatching Chumbi with unusual qualities.
- Seed holders will have some control over the genetics of their freshly minted pods, dependent on the two parents they choose to mate with.
- This unique breeding event will also result in an exceptionally unusual phenomenon in the Chumbi Valley Forest, with the Mystical Oak Tree producing an additional 8,192 Gen 1 Chumbi Pods!
- The remaining Gen 1 Pods will be sold to the community, and all CHMB earned (up to $1,000,000) will be burned.
- Date for the event: TBA
- Where will it take place: Chumbi Valley website
- Accepted Currency for the event: CHMB
- Total Pods Available during the event: 8,192
- Pod Price: USD 125 worth of CHMB (price set in CHMB closer to sale)
- Potential Fund Raise: USD 1,000,000 of CHMB — 100% of the CHMB will be burned!
About Chumbi Valley’s Breeding Event
Breeding necessitates the use of two Seed Chumbi and results in the production of two Pods. Seed Chumbis can only reproduce once during this event. This occurrence is not affected by any in-game breeding restrictions. There’s also a free mint for Seed Chumbi owners. There might potentially be a transaction fee involved, but in any event, there is no fee for breeding on this occasion.
The Seed Chumbi uses a symbiotic process to transfer mystical power to the tree, resulting in the Pods. This energy strengthens the tree enough to produce more Pods. So, in addition to the Pods supplied to Seed Chumbi holders, the Mystic Tree grows an additional 8,192 Technology 1 Pods to sell. The breeding event and sale date have yet to be determined, although they are expected to take place in March/April.
The CHMB token will be used to pay for the sale. Each Generation 1 Pod will cost $125 in CHMB tokens. There will almost certainly be some kind of whitelist for sale. Details will be released shortly. It is still unknown if the sale will take place on Binance Smart Chain or Polygon.
Chumbi Valley Is Developing Gen 1 Characters
So yet, only the Seed round of pods have been released, which are the unique game items accessible. Following the selling of the pods, the game organized another event to hatch the pods.
The characters from the Seed round will then be combined to create a larger, less uncommon Generation 1 collection of characters. Every Seed character will be able to breed just once. A total of $1 million CHMB tokens are expected to be burned throughout the event. A total of 12,288 new characters will be introduced. In forthcoming Gen 1 Chumbi Events, $1,000,000 in CHMB will be burnt.
Generation 1 Chumbi
This event will produce only Tier 1 Chumbi. The game can selectively produce Chumbis of the more uncommon tier varieties, but the developer prefers to keep that mechanism for in-game breeding. This event has the potential to generate up to 12,288 Gen 1 Chumbi. The hatching and unveiling of the Generation 1 Chumbi will take place later.
The qualities of the Pods developed from the Seed Chumbis will be based on the parent Chumbi, while those for sale will be random. The transaction has a 0.5 percent chance of producing a Shiny coat or Mini Chumbi.
The company intends to burn the whole selling earnings and guarantees that this is only the first burn event for their token. Burn events are frequently used to reduce coin inflation and increase currency value. So it’s encouraging to see Chumbi Valley starting with a focus on long-term tokenomics.
The Price of CHMB Remains Low…
CHMB’s price has continued to fall, now worth $0.019. The asset has only been trading for a few months, and its KuCoin listing is the only source of more substantial liquidity.
CHMB is not under pressure to sell because it is not utilized as a reward in the game. Chumbi Valley is still in the process of launching its maiden experiences. The prospective revenues of the game are solely dependent on CHMB token speculation and the value of its Seed and, shortly, Generation 1 NFTs.
Even without games, Chumbi valley seed characters currently fetch a floor price of 0.68 ETH.
Also Read: Top 5 Play-to-Earn Games to Look Forward in March 2022
