Play2Earn game Chumbi Valley is preparing to have its first breeding event.
Last year, the team revealed their Seed Chumbis and then followed that with an NFT airdrop to all Chumbi holders.
Breeding will give Seed Chumbi Holders an opportunity to create first generation Chumbis by growing Pods on the Mystic Tree.
The process will require two Seed Chumbi, and will produce two pods. Each Seed Chumbi can only breed once.
While there may be a transaction fee, this will be a mostly free mint for holders.
How will it work?
The Seed Chumbi will transfer mystical energy to the tree, thus making the pods. This energy is enough for the tree to make extra pods, and indeed, for every pod given to the Seed Chumbi holder, another one will be made to be sold.
Each of these will be sold for $125 worth of CHMB token.
The CHMB token exists on both Binance Smart Chain and Polygon network, and it is currently unclear where the sale will take place.
A maximum of 12,288 Gen 1 Chumbi can be created from this event. However, the reveal (hatching) will take place at a later date.
Pods generated from the Seed Chumbis will have similar traits as the parent Chumbi, but those in the sale will be totally random.
Why are $1,000,000 of CHMB Getting Burned
In a bid to stabilize the coin’s value and avoid catastrophic inflation, the team will burn all the proceeds from the sale.
From the official announcement, they write, “100% of the CHMB raised (up to $1,000,000 USD) will be burned!“
Previous projects have seen rug pulls where the value of the underlying coin drops 99% in a matter of minutes.
Announcing that they will burn to protect the value also instills faith in the community.
When is Seed Chumbi Breeding Event?
As of right now, no date has been announced for the Seed Chumbi breeding event.
We however expect it to happen later in March or sometime in April.
When is Chumbi Valley Game Release?
From the roadmap, the project is currently in stage 3. That means Chumbi holders should expect a beta in a couple of months or so.
Later this year, we can also expect to see a marketplace, and a land sale.
