TL;DR
- Starting from December 31, 2024, Sipher’s Genesis NFTs will transform into a rewards system based on the $SIPHER token.
- Genesis NFTs will unlock “vessels” and “gear” in-game, ensuring equitable access for all players, regardless of how they obtain these items.
- Genesis NFT buyers should exercise caution when purchasing them in marketplaces during the conversion period, as those that have already been converted will not provide $SIPHER rewards.
Sipher (SIPHER) has announced an important update for its Genesis NFTs, which involves a transformation of the rewards system and the role of these assets within its ecosystem.
Starting December 31, 2024, the Genesis NFTs, including the Sipherian Flash and Sipherian Surge collections, will become part of a new rewards distribution system. The goal is to improve flexibility and strengthen the integration of the $SIPHER token within the ecosystem.
— SIPHΞR (@playSIPHER) December 28, 2024
One of the main changes is that Genesis NFTs will unlock “vessels” and “gear” in-game. These items will function similarly to those earned through regular gameplay, ensuring that all players have access to the same opportunities within Sipher.
Additionally, owners of these NFTs will be able to receive rewards in $SIPHER tokens, which will be distributed weekly through the Funki Chain network, provided users sign a conversion agreement between December 31, 2024, and January 25, 2025. To be eligible, players must verify their Genesis NFT balance on the Sipher portal during this period.
Sipher Warns Caution When Purchasing on Marketplaces
It is important to note that during this conversion period, buyers of Genesis NFTs should be cautious when acquiring these assets on marketplaces such as Opensea, as those that have already been converted will not provide $SIPHER rewards. The metadata for Genesis NFTs will also be updated on December 31, 2024, temporarily disabling the values associated with these assets, although the characters linked to the Genesis NFTs will remain visible and playable in the game.
The $SIPHER rewards system will be based on the rarity of the NFTs. Genesis NFT owners will receive a number of tokens according to the rarity of their asset, ranging from 500 tokens for common items to 15,000 tokens for 1:1 NFTs. Additionally, Sipher has announced that starting January 26, 2025, it will begin distributing new NFTs on the Funki Chain, which will retain the key attributes of the original Genesis NFTs
