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The Vault Pass acts like a membership pass within our Metaverse.
Vault Passes generate staking rewards which can be used to buy NFTs from the METAVS Vault, whitelist access to future drops, and more.
As of April 12, 2022 the Vault Pass is expected to launch with a starting price of 0.2 ETH, the price will increase by 0.04 ETH every 100 purchases, and the supply is infinite.
Our thought process:
- The value of a Vault Pass comes from owning/staking for long periods of time to accumulate staking rewards.
- A small supply would limit the total users able to participate in this system. It would also provide whales the opportunity to purchase and hold the fixed supply to redeem all Vault NFT's, perks, etc.
- The market will determine the final price of the Vault Pass. The price will continue to increase until no one is willing to pay the mint price.
- Early minters will be rewarded by paying the lowest possible mint price.
- They will also have the advantage of having more time to earn staking rewards.
- If the floor price of Vault Passes exceed the mint price of a new pass, new users have the option of purchasing a Vault Pass with unused staking rewards, or mint a new Vault Pass to begin staking.
- Bid or purchase NFTs from the METAVS Vault.
- Purchase whitelist spots in future drops.
- Upgrade the level of your Vault Pass to gain access to rarer items/perks.
Unlike the Metapass all unused Vault Pass staking rewards are NOT reset when the NFT is transferred to another address.