Announcing Titan Legends Launch & Updated Mint Information
Hello Legends!
And so… The quest begins.
There’s been some talk about Dragon Eggs? Who knows what that could mean…
Also, a 1-of-1 Ghost Dragon? Sounds pretty cool!
A wise owl told us that The Great Titan has been hard at work, breathing life into these Legends.
They are almost ready to unlock the full potential of the Ether Crystal.
As we move closer to the minting date of the Titan Legends, we want to bring to attention some important details…
With the recent drawdown in $TITANX price and after hearing some feedback from the community, we have decided to raise the mint price slightly (in $TITANX). The intention from the beginning of the project was to make the mint price around $25–30 USD per Titan Legend, which at the time translated to roughly 8,888,888 TITAN X. As it stands, from when the project was launched to now, the TITAN X price is down around 65%.
Whereas in the long term, this doesn’t worry us in the least bit… In the short term, there looks to be some more downside according to our analysis.
Titan Legends is set to launch on January 18th, 2024 at 5pm UTC and on that day, we’re seeing a massive amount of supply hitting the market. Over 2.7 Trillion TITAN X to be exact (2x the current liquid supply).
Since the founder of TITAN X, Jake Sharpe (@inkayknows), has deliberately raised the buy and burn limit to 3.33 ETH every 60 minutes today, there is a good chance we will see some significant sell pressure — potentially even adding a zero to the price. This is clearly an intentional move from Jake. As the ETH price goes up and the $TITANX price goes down, this will allow for the Buy and Burn to make the best use of its ETH and burn a TON more supply. This is the best bang for the buck solution as we move into Phase 2 of projects building on $TITANX.
With that said, we’re guessing that on the day of our launch $TITANX will be around $0.0000008ish.
While none of this is intended to be financial advice, we were forced to make a decision with this project over the last few days —
· Do we keep the minting price the same and risk the collection being “too cheap”?
· Are we risking whales just coming in and scooping up all of the supply for bottom dollar?
· Or is the barrier to entry just too damn low in general?
Listen to what Joe Pary (400k Subscribers) on YouTube had to say about the project when he reviewed it a week ago…
After watching this and seeing this week’s price action, it became apparent very quickly that finding a balance would be key for the longevity of the project.
As of writing, $TITANX is $.000001104. This means that the original mint price of 8,888,888 $TITANX would be around $9.81 USD each if we were to do the mint today.
This brought us to re-evaluate the minting structure. So we spoke with some community members and ran a poll…
What we came up with from this research we believe to be an excellent compromise…
We decided to do a tiered approach to minting. When the mint goes live, the initial 2,000 NFTs, known as the ‘Fire Breather’ tier will be available first to get minted. These NFTs will consist of mostly regular traits and some rare traits. Hidden in this first batch is a 1-of-1 ‘Ghost Dragon’.
The cost for the ‘Fire Breather’ tier will be 28,369,888 $TITANX, which as of today is approximately $31.32 USD each.
Once the first tier sells out, the next 888 NFTs, known as the ‘Legendary’ tier, will be available to mint. These will consist of extra-rare traits that will only be revealed as the NFTs are being minted. This tier will be fun to watch unfold!
The cost for the ‘Legendary’ tier will be 88,888,888 $TITANX, which as of today is approximately $98.13 each.
Also hidden throughout the collection are 28 dragon eggs that are each 100% unique. These will be spread throughout both tiers. You’ll just have to wait and see what happens with those!
With that being said, we also made a decision to upgrade the burn rate of the project. With each Titan Legends minted 36.9% of the $TITANX used for minting will be burned forever.
With the increase in $TITANX mint price due to the decrease in $TITANX token price, coupled with the increased burn rate… We found this to be an equitable and fair way to go about the mint no matter what your budget is. From the beginning our goal has been to get as many people involved with the project as possible and we are holding true to that statement.
I highly recommend that you read the DragonPaper that was released today which you can find here: www.titanlegends.com/dragonpaper. In there you will find the relevant information for the project explained in detail.
While we have no “formal” roadmap and are moving forward with a no expectations approach, be assured that there are plans and benefits for holders in the pipeline. In the spirit of crypto, it just feels right (and WAY more fun) to keep project development close to the chest. With that said, we are extremely open to feedback and want the community to be involved as the project grows organically.
Bringing the 2021 crypto vibes to $TITANX.
YEEHOO!!
Over and out,
-RoodyKazooti
P.S. Come take an opportunity to hop on the community AMA with the TITANX community and I on Sunday, January 14th at 5pm UTC hosted by @PLANAAA101. Below is the post where you can set a reminder!
