5 Reasons to Get a Kanaria Egg For The Hou-ou Festival
With June 1st days away, there’s never been a better time to join the eggolution on Kanaria. We wrote a very detailed post explaining everything about Kanaria here, and so this isn’t intended as an explainer, rather as a post with the goal to tilt you towards joining if you’re still on the fence. Why be so direct? Because when you’ve got something good to offer, you don’t beat about the bush.
In this post, we give you 5 solid reasons you should not let the opportunity to own a Kanaria egg before June 1st pass you by. For one thing, the eggs are going to hatch in June! 🤯! Of course, hatching is not reason enough for you to deposit your hard-earned KSM. If you want to be convinced, keep reading. If you do not want to change your mind, then please don’t read further, you may end up getting persuaded 😏.
Without further ado, what are the reasons to own a Kanaria egg before June 1st?
1. Be the first in a revolutionary NFT platform
In March 2021, the Kanaria platform was launched by the RMRK Association to demo and test our new NFT technology. For the uninitiated, RMRK is a part of Kusama’s broader NFT strategy. The RMRK team forced NFTs onto the Kusama relay chain by abusing the system.remark function, hence the name RMRK.
Don’t worry though, RMRK isn’t revolutionary because it became a wanted pest on Kusama. Rather, what makes RMRK special is that it takes NFTs to a whole new level of composability, giving them attributes and possibilities that are not currently in existence on any platform. But don’t take our word for it, consider some of the features below:
Nested NFTs - this is a feature that makes it possible for an NFT to own another NFT. For example, when a Kanaria egg hatches into a bird, depending on the emotes that egg had on it, the bird could have an accessory (like 📖for example). This book accessory will be another NFT that is linked to the bird. Isn’t that cool? Imagine all the use cases this creates, particularly in gaming.
Conditional rendering - with this feature, an NFT can display different visuals when certain conditions are met. For example, the outfit of an NFT character changes when a certain block number has been crossed.
Multi-resource NFT - with this feature, an NFT can have multiple resources attached to it. An NFT of a 3D model can have three resources—a 3D model file, a high-resolution image, and a thumbnail image. Depending on the context it is being loaded into, a different resource will be loaded. For example, loading the NFT into a 3D tool will generate the 3D image, while loading it on OpenSea will generate the hi-res image.
NFT as DAOs - this feature makes it possible to use an NFT as a decentralized autonomous organization. A simple way for this to happen is by minting tokens for an NFT and sharing them amongst the stakeholders. Such that there is 1 NFT but multiple owners. If a decision is to be made on the NFT, then a vote will decide what happens. In practice, we could have a billboard owned by 5 friends in a high-traffic area of the metaverse. Along come bids from Coke, Pepsi, and Nike to display their ad on this billboard. To decide, the 5 friends vote with their tokens. Nike wins and the Nike ad NFT is sent to the billboard to be equipped as the billboard’s new texture.
These features aren’t highlighted because they are cool. If that’s all they had going for them, then we would close RMRK down today and call it a day. Instead, these features are beyond exciting because they offer NFTs a glorious path to previously unimagined use cases.
By owning a Kanaria egg before June 1st, you buy into this new platform on the ground floor, and the proof is in the second reason.
2. Get RMRK tokens
By owning a Kanaria egg or by hatching it into a bird, you become eligible to earn RMRK tokens at no extra cost. There are only 10,000,000 RMRK tokens which will be distributed to all the buyers of Kanaria eggs. The conditions are thus:
- If all eggs are claimed before June 1st, then all 10,000,000 RMRK tokens will go to the egg holders
- If not all eggs are claimed, then the number of eggs left will determine the number of RMRK tokens available to egg holders following the formula outlined in the RMRK token section of our livepaper.
Despite both conditions, one thing is resoundingly clear: all egg holders will get RMRK tokens in a fairdrop. You can use the RMRK tokens:
- To mint Kanaria-compatible assets (NFTs)
- As collateral in DeFi apps to take out stablecoin loans
- For governance of the RMRK ecosystem
- For liquidity farming to earn rewards in RMRK and NFT tokens
- To access all RMRK infrastructure, like GraphQL servers, regular dumps, technical support from the team, and anything else needed to better integrate and track RMRK sales and progress.
If earning RMRK tokens doesn’t clinch the deal for you, then consider the third reason.
3. Earn a % of RMRK revenue
Of all the reasons, this is one of the strongest because it means that if RMRK becomes successful, you will get to benefit directly from it regardless of market fluctuations. This is attached to your Kanaria egg (soon to become bird) as a trait. This is how the revenue share trait is distributed amongst the egg tiers:
- Super founder eggs - 0.5% guaranteed
- Founder eggs - 0.1% guaranteed
- Rare eggs - 0.1% (based on chance as only some cards will get this trait)
- Limited edition eggs - 0.1% (based on chance as only some cards will get this trait)
Given that RMRK aims to be an NFT super-solution that is pluggable to any substrate-based chain, the potential for a steady revenue stream is there. Already, the RMRK team has proven that it can secure partnerships with the big players in the substrate space, as evidenced in reason 4.
4. Gain opportunities in Substrate-based ecosystems
With Kusama parachain auctions around the corner and crowdloans already pre-happening, the RMRK team has been able to secure some additional benefits for Kanaria egg holders in various Substrate-based ecosystems—Karura (Acala), Khala (Phala), Zeitgeist, Unique Network, Moonbeam, Bit.country and Litentry.
The nature of the partnerships goes like this: purchasing an egg and following instructions of the relevant partner project is enough to give a bird holder a special NFT once the partner project launches. Each partner project will decide on the benefits of these NFTs, but due to their extreme rarity (only 10k max eggs), these are likely to be special. For example, by participating in the Karura crowdloan and owning a Kanaria egg, you can get a trait that gives you bonuses (APY boosts on DeFi farms) on Karura.
Seeing as this is just the beginning, surely, many new partnerships will emerge as time goes on, and you are sure to benefit from them by owning an egg before June 1st.
5. Partake in the Hou-ou festival
Although the last reason, it’s hands-down the most fun of them all. The Hou-ou festival is an egg-burning festival that will happen in June during which some eggs will be burnt every day. Worry not because you’ll still be able to claim eggs during this period. That said, the Hou-ou festival won’t end until all 9999 eggs are claimed or burnt. That means that any egg that is not claimed will be burnt.
While the eggs are burning, the birds will get to hatching. All in all, this period is bound to be exciting for all Kanaria egg holders: no one knows which bird will hatch out of their eggs. Some egg holders have been sending a lot of emotes to eggs to influence their looks, while some Limited Edition and Rare egg holders eagerly anticipate the possibility of their bird hatching with the 0.1% revenue share trait.
But it’s not all good news. The RMRK team will soon reveal flocking conditions: groups of birds that, if owned by a single address, can have special, additional benefits like a special NFT they can claim after the birds are all hatched. If you wait too long, the birds that would be part of an otherwise powerful flock might be burned, and the set will never be attainable. To avoid this sad reality, pay attention to our Twitter and be ready to claim eggs that belong to a flock to unlock their special benefits.
If this doesn’t make sense to you, then I strongly recommend that you read this post as it explains all the intricacies of hatching, traits, looks, probabilities, etc.
What the RMRK team is creating with Kanaria and our slate of NFT services is pretty exciting. To join now is to be at the bleeding edge of a new technological paradigm that is poised to change the world, or at least how we relate to it.
RMRK doesn’t claim to have it all figured out. What we guarantee is that we’re is in this for the long haul, and our primary focus is exploding the use cases of NFTs until they become embedded in every process we can find to embed them in—gaming, ICOs, ticketing, DeFi, etc. Kanaria is the start of that journey and you can be a part of it! Claim an egg to join the eggolution.