The time has finally arrived. We have the answer to the burning question “wen name?“. In the words of Mike Tyson… “THOON”.
NFT Worlds will be officially starting the rebranding process on May 5th, 2023. This comes with a plethora of changes including the highly anticipated new brand name, rebranded NFT collections and social medias, updated World metadata and images, new staking contract, enforcing royalties (“GG blur farmers”), and more.
You DO NOT need to do anything during this process, including unstaking your worlds or claiming $WRLD.
However, during the initial process of the rebranding, all existing NFT Worlds will have their metadata updated to show that a migration is planned, followed by an explicit “DO NOT TRADE” period.
Staking rewards will be paused while this “DO NOT TRADE” period is in effect, and will be enabled via a new staking contract in the weeks following the rebrand. Unclaimed staking rewards from the old NFT Worlds staking contract WILL migrate as a claimable balance to the new contract.
Please stay up-to-date on further news in the official NFT Worlds Discord, and do not trade until the “DO NOT TRADE” period is over – otherwise you may be at risk of not receiving an airdrop.
Table of Contents
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NFT Worlds Rebranding Announcement
ArkDev posted this announcement in the official NFT Worlds Discord as well as on this Twitter post.
Check it out:
Important announcement: NFT Worlds Rebranding & Contract Migration Overview!
1. Preface:
As many of you are aware, we’ve always had a mission to onboard traditional gamers (Web 2 gamers) into the Web 3 gaming space. Our first step towards this goal began with choosing to use the world’s most successful game as our base, then expanding it using blockchain technologies.
However, we’re facing a challenge. Traditional gamers are a passionate and opinionated group of people, so negative connotations of blockchain makes onboarding players especially difficult. Because of this, NFT Worlds has decided to rebrand to a more Web-2-friendly name.
2. Next Steps: Rebranding & Contract Migration
On May 5th 2023, NFT Worlds will begin fully rebranding all products, nft collections, and social media. We’ll start by rebranding the worlds (NFT), continuing to other contracts in the following weeks. Along with our rebranding, we will be deploying a new contract and migrating the NFT (Worlds) collection. Our team will handle the entire migration process to create a seamless experience for our holders.
Here’s the key details:
- In the coming days, all existing NFT Worlds (The world NFTs) will have their metadata updated to explicitly state that a migration is planned, along with additional details.
- The update following this metadata change will start an explicit “DO NOT TRADE” period. During which, we will be snapshotting ownership in order to airdrop the same worlds to the same owners for the new contract. If you trade during the “DO NOT TRADE” period, you’re at risk of not receiving an airdrop (depending on exactly when the snapshot happens). We are working with OpenSea & other marketplaces to disable trading during this period, but there is not a 100% guarantee that all marketplaces will be able to disable trading – please be aware. During the “DO NOT TRADE” period, we will post and reiterate “DO NOT TRADE” notices in any public-facing location. The safety of the community during this transitional period is our TOP PRIORITY!
3. $WRLD Token / Staking
- Staking rewards on the current NFT Worlds staking contract will be halted once the “DO NOT TRADE” period begins.
- A new staking contract will be deployed in the weeks following the NFT Worlds rebrand. There will be a few weeks period when staking for the new rebranded worlds is not available.
- Any unclaimed staking rewards from the old NFTW staking contract will be migrated as a claimable balance to the new contract – no rush to claim your current rewards on the current (soon to be old) staking contract if you don’t want. After this migration of rewards, the old reward contract will no longer be claimable
4. More Context
This update is going to give us a lot more flexibility going into the future, allow us to bring forth the rebranding of NFT Worlds removing the barrier between onboarding the next 10,000,000+ players, and last but not least, heavily discourage marketplace related farming that has been negatively impacting NFTW.
Royalties will be enforced going forward as well. While not required for NFTW to operate, re-enabling royalties is going to give us a steady flow of revenue to pour back into the future development and continued longevity of the game client, new player onboarding, and more.
5. TL;DR
- NFT Worlds is rebranding May 5th.
- Worlds & other contracts are migrating.
- New worlds will be migrated first, airdrop follows.
- New staking for new worlds, claims transferred.
- You don’t have to do anything!
Why is NFT Worlds rebranding?
The web3 gaming space is still in it’s infancy, and as it is with all new innovative technology, there is a harsh societal pushback from traditional norms. Remember, the internet was just a “fad“.
Without any real mainstream commercial success in the gaming web3 space to date, it is difficult to wash out the negative connotations the NFT and web3 space brings to web2 gamers.
The primary reason for the rebranding of NFT Worlds is to create a neutral, web2-friendly brand name in addition to ensuring a frictionless, more traditional gaming experience. The key is to create a game that is fun first and foremost, and utilizing the power of blockchain technology to enhance the experience.
The new brand name will not include any of the following words: NFT, Worlds, Meta, Web3.
The rebranding will also include updated names for all NFT World collections including Genesis Avatars, NFT Worlds items, and presumably the WRLD token. It is not confirmed if the WRLD token will be rebranded, but it is likely.
This rebranding process will enable more flexibility and remove the barrier for the future onboarding of 10,000,000+ players.
Royalties will also be enforced going forward in order to discourage marketplace farming, especially on Blur, and to enable a steady stream of revenue to aid in future development, new player onboarding, and more.
Frequently Asked Questions
There has been a lot of questions following this announcement, some of which have been answered via Discord from ArkDev and Temptranquil. Here are some you should know.
1. When is the NFT Worlds rebranding process taking place?
The rebranding process will begin on May 5th, 2023.
2. Can I leave my worlds staked during the airdrop?
Yes. You do not need to do anything during this process. Whichever wallet has the permissions to unstake your world will receive the new world airdrop.
3. Will the new staking contract reward holders $WRLD 2.0 instead of $WRLD 1.0?
Yes.
4. Do $WRLD 1.0 staking rewards get auto converted to 2.0 when the new staking contract goes live?
Yes, anything claimable will be for 2.0 token.
5. Will there be a new contract for Genesis Avatars and NFT Worlds items as well?
Yes, both will eventually have new contracts.
6. Will the Worlds change during the migration, or remain the same with resources, unique traits, rarity, image snapshot etc?
All the metadata will stay the same, just the image/branding is changing. The image is cleaned up a lot, but the metadata is the same.
7. Why is a new contract necessary for the rebrand?
The token ticker “NFTW” would stay the same if there is no migration. New features also cannot be added in the future with the current contract.
8. Can I still convert WRLD V1 to V2 at any time?
Yes, there is still no rush to convert.
9. Do holders need to re-stake?
Yes, you will need to re-stake your worlds, but new staking won’t be live immediately after the rebranding since the mechanisms are changing – direct migration was not possible.
10. What methodology is being used for royalty-enforcing?
OperatorFilter, but with the ability to opt-out and upgrade that with the new contract should market standards change.
11. Will $WRLD token be rebranded as well?
This is not fully decided yet, but it is likely. This would be the only chance to rebrand it – but it is not set in stone yet.
12. With staking rewards paused and no $WRLD being generated, will we get compensated for the downtime?
Staking should only be paused for a few days, but they will make everyone whole should it get to a significant amount.
13. Which wallet will receive the new world airdrop?
Whichever wallet has the world that can unstake.
14. What will royalties be set at?
9.5%, the same as it always was.
15. Do I have to do anything?
No, this will all be handled by the team. Just be sure to not trade during the “DO NOT TRADE” period.
Conclusion
The NFT Worlds rebranding is a crucial step in the process of onboarding the next generation of web3 gamers. With the early game engine previews looming, everything is starting to ramp up and come full circle.
It is a true “Hero’s Journey” story arc, and the NFT Worlds team is paving the way forward for the future of web3 gaming.
We are all excited for the future of ?, and the team is firing on all cylinders trying to make it the best experience possible.
If you found this post helpful, spread the word and follow @allyourlootnews on Twitter!
*Contains affiliate link, see Affiliate Disclaimer
*Contains affiliate link, see Affiliate Disclaimer
*Contains affiliate link, see Affiliate Disclaimer
