Gigaverse (official site) has explained how players will get Giga Legends, the new flagship NFT collection on Ethereum. There is no allowlist and no public sale. From 16th November to 1st December, the only way to get a Legend is to convert Gigaverse assets you already hold.
How the conversion works
There are two routes in, and which one you take depends on what you hold now.
- GLHFers, the team’s original Ethereum collection, will be airdropped as Legends one-for-one when the window closes. They keep their existing art.
- ROMs, the game’s NFTs on Abstract, get burned for points. Each Legend costs 24 points. A ROM’s points depend on its tier, from 3 for the most common Silver ROMs up to 36 for the rarest Voids.
Leftover points can go into gacha machines or be sent to another wallet.
ROM holders face a hard deadline. Any ROM that isn’t converted will be lost when Abstract goes offline, because wallets on that chain can't be recognized on Ethereum.
Why Gigaverse is making the change
The team says the move reflects Gigaverse growing from a single game into a wider franchise, with Gigaverse Online in development. ROMs were built as factories for the original game. “An asset tied to the whole ecosystem shouldn’t rise and fall with one product’s economy, and new players shouldn’t need an old NFT to compete,” the team said.
So Legends will earn no yield. Gigaverse is pitching them purely as collector items. Supply is fixed once the window closes, and the team says there will be no more Gigaverse collections after this one.
Some holders get a different deal. Around 300 GLHFers held by the GLHFSTR token project will not be converted, and that project’s token holders will get points instead.
Cofounder Dith said the team thought about rewarding players and partner communities as well, but that doing so “would just dilute the conversion for our holders”.
What happened to prices
The deadline has pushed every ROM holder to choose between converting and selling. In the 24 hours after the announcement, the ROM floor fell 42% to 0.027 ETH, about $61. Trading volume rose by more than 2,000%, with 138 sales in a day. In the six days before that, the collection had 27 sales in total. The GLHFer floor fell 23% to 0.245 ETH, about $546.
That leaves the two routes into Giga Legends costing about the same. Eight of the cheapest ROMs add up to around 0.22 ETH, and a single GLHFer costs around 0.24 ETH.
