The Quirkie / Quirkling Paradigm
How we are seeing the value of each species evolve and insights we have discovered…
Quirksville is lucky to have two amazing collections (Quirkies + Quirklings) for people to choose from, whether it be in tandem to collect certain sets or individually. We felt it important to expand on a few points to help the community better understand our goals, ambitions and allow for better on boarding knowledge.
Tiers and Sets…
From early on in the life of Quirksville, residents were informed of tiered membership. Although this has had added value to some of those collecting sets it has also had some unanticipated ramifications for those looking to join the ecosystem. Thus we want to clarify a few points!
Are alpha sets important? YES. Great! However not to the point that any Quirksvillian will or should feel they must only own a Quirkie with its matching Ling or vice versa. The alpha set tier was created to give an extra reward to those who were early and thus received the free matching claim. This will continue to be the case, whether it be some form of power up in Quirkmasters, access to a particular item or apparel through our WEB2 business or claims like our first WEB3 comic book.
We have seen matching quirklings being either held hostage or trading as a form of 1/1 and although, yes the alpha tier is the highest, we want to make clear that it is not required to gain extremely powerful exposure to the Quirksville ecosystem. Omega tier runs a very close second, adding numerous benefits within all of our planned activation's. This just requires ANY quirkling to be matched with a Quirkie.
Additionally even if you own a singular Quirkie or Quirkling we want to make it extremely clear you will be involved in the vast majority of activation's and will receive numerous benefits both from a WEB2 and WEB3 perspective.
The tiers were never created to diminish the value of holding individual items, our core value proposition is the opposite, providing value to every item within Quirksville, while adding a little extra spice for those who hold multiple items particularly those with both Quirkies and Quirklings in matching quantities and finally mint numbers.
This is a key point to avoid barriers to entry which can have Quirksville placed into the too hard basket for collectors looking to join our community.
Traits are and continue to be the most important factor in relation to both quirkies and quirklings…
Quirkie / Quirkling Value Proposition
With the introduction of Quirkmasters and its card distribution model through Quirkies and Quirklings, more is being spoken about relative value.
We have outlined previously that community implied value based off demand and price has a key determination of trait/card power and abilities. When initially pricing the Quirklings mint we had numerous factors to take into consideration. These included market demand and appetite, blue chip secondary project trading multiples and even at this early stage, relative power / price to Quirkies knowing full well the day of Quirkmasters would eventually come.
Keeping all this in mind we decided that for all power calculation purposes FLOOR Quirkies would as a general rule provide 5x the power of FLOOR Quirklings. At the time of price setting we actually further discounted the mint price to reward early adopters. With OG’s sitting around 2eth at time of mint, from a pure relative power perspective Quirklings could have been priced at 0.4eth not 0.2 — Food for thought.
Out of this information there are a couple of key takeaways. Firstly we used a relative floor calculation. Therefore although a floor quirkling might be 5x less powerful on average than a Quirkie an extremely rare quirkling trait would be much closer on the power index. A 1/1 Quirkling based on our early calculation metrics would provide materially greater power than that of a floor quirkie on average. These calculations as outlined previously do include weighted values of community demand and previous sale prices to help avoid unbalanced trait power vs demand. Exciting for those who have been snapping up rare and 1/1 Quirklings. Secondly our initial mint price for Quirklings incorporated a discount to the true power index to reward early adopters. At Quirkie floor price of 1.5 based on general power indexing Quirklings would sit at .3.
Obviously no market is perfectly efficient and participants choose value based on art and many other factors, however it was important to us that holders had this information as we progress through our staged claiming process.
Finally — TRAITS MATTER. As you can tell from the above we have put a huge amount of thought as to how to rank our rarer and more sought after traits for both Quirkies and Quirklings and have them sitting on the power index accordingly. Additionally we have ensured we have numerous reasons to hold more common Quirkies and Quirklings. Whether it be through burning mechanisms or future upgradable card solutions…
Importantly this creates a clear value proposition for even those who own only a single quirkie or quirkling outside of our top tier sets. Every item holds value and power.
Quirkies Originals — You are intended.
