MFC Whitepaper

Series Packs

Distribution methods for series collectibles distributed in packs.

Existing Collector Concerns

It has been an issue in the collectibles world where packs are purchased and then sold for large markups. This leads to a situation where price speculation runs very high and the cards don’t get into circulation. This often has a way of pricing out some collectors that are not at the launch or find the series later on.
In addition to pack hording, the packs may be forgotten about as the collector feels they will always have to time to open the packs. This may leave critical collectibles out of circulation. This can be especially difficult when you have a pre-mint pack sale and certain cards need to get out for crafting.
A collector also may have purchased a high end collectible with the assumption of it's digital scarcity. Someone may be holding a 1 of 1 card that years later get devalued by people opening packs, or crafting recently open pack contents.
The MFC team felt that we wanted to encourage pack opening. To address these concerns we have put several previously unused mechanics into play for the series collectibles. All of these mechanics are designed to both encourage pack opening, and discourage price scalping on packs long term. We understand these mechanics will be controversial, and aim to employ them only on the collectibles.

Pack Open Mechanics

MFC series collectible packs will have a time limit on how long they can be opened. After a period of one year from initial sale the smart contracts for pack opening and card minting will be closed. The remaining un-minted cards (in case of mint on demand) will have their templates locked to create a defined max supply. Pool cards (in case of premint) will be burned.
In addition the card minting and crafting smart contracts will be closed as well. What this means is that all cards will have a finite, and defined, maximum supply. There will be no guessing from the long term holder if there will be a sudden influx of cards due to pack openings at a later date.
For those holding packs they will continue to own the pack NFT, but it will no longer be able to be opened for cards. In this case, the unopened packs become a collectible in their own right, especially low mint card packs.

Minting Mechanics

Series minting will be done in three pools. The goal of the pools is to get the proper distribution of cards into the hands of collectors. Crafting mechanics will be open the same time as the pack opening creating a "mint sprint" situation for those that are attempting to get the low mint crafted collectibles.

Pool 1

The first pool will contain mints starting at mint #2 and will continue up to 40% of the total mint count for each rarity as pre-minted cards. The goal of this pool is to protect mint #1 collectibles from getting burned by accident during the crafting rush. This also rewards the most committed collectors by giving them a good chance at low mint collectibles.
Only purchased packs will pull the from this pool. All free promotional packs will only pull from pool #3.

Pool 2

The second pool will contain all mint #1 collectibles and all other mints from 40% of the total mint count up to 80% of the total mint count. These will all be pre-minted, meaning those that cannot open right away still have the chance to get a mint #1 or any of the mid level mints. In this way those that open after the pack launch still have chances at excellent cards. It also adds a layer of gamification to those opening to decide if they want to open packs after the 40% line is hit to attempt to get a mint #1.
Only purchased packs will pull the from this pool. All free promotional packs will only pull from pool #3.

Pool 3

The final pool will be mint on demand. This pool will be any card minted from the promotional packs as well as all cards from purchased packs once we have reached 80% minting of any given rarity. This is to say, once 80% of each card rarity is minted everything will pull from this pool. This means once the packs are closed you cannot accidentally "lose" any mint #1 cards in unopened packs.

Pool Thresholds

The pack opening contracts are designed such that they can "straddle" pools without any negative impact. The contract will pull cards from a given pool until they are gone and then move on to the next pool. If the numbers work out the same pack can pull from two different pools until the first pool runs out. You won't have missed cards in the first two pools.

Pack Types

Standard series packs will come in three types, Essence Pack, Citizen Pack and Alter Pack.

Alter packs will be promotional in nature and will be distributed freely. These packs will contain 2 collectibles. These packs may contain cards of any rarity but will only draw from pool 3 and will be higher mints.
Citizen packs will be the smaller of the two sold packs. These packs will contain 5 cards. These packs may contain cards of any rarity and will draw from all three pools.
Essence packs will be the larger of the two sold packs. These packs will contain 30 cards. These packs may contain cards of any rarity and will draw from all three pools.
All 3 pack types will have the same rarity structure and draw from the same pools.

Series expansion packs will be in edition to the standard series packs.

Expansion packs will be issued from time to time that will expand the standard series. These expansion packs are designed into the series and will add an additional types of art to our initial series. These expansion packs may be issued in any number of way. This can be explored more in the Special Pack Distribution section.