Gigaverse unveils Giga Legends NFTs; ROM floor drops 42% on news
Gigaverse will create its Giga Legends NFT collection only by converting GLHFers and ROMs from Nov. 16 to Dec. 1. The ROM floor fell 42% to 0.027 ETH.
NFTGAMEFINEWS
Sofia Marchetti
10/30/20261 min read
Web3 game studio Gigaverse has announced Giga Legends, a new flagship NFT collection on Ethereum that can only be obtained by converting existing Gigaverse assets, BlockchainGamerBiz reported on Oct. 30. There will be no allowlist and no public sale, and the conversion window runs from Nov. 16 to Dec. 1.
Holders of GLHFers, the original Ethereum collection, will receive Legends one-for-one by airdrop when the window closes, keeping their current artwork. ROMs, which live on the Abstract network, must be burned for points instead. Each Legend costs 24 points, with ROMs worth from 3 points for the most common Silver tier to 36 for the rarest Voids. Leftover points can be spent on in-game gacha machines or sent to another wallet.
About 300 GLHFers held by the GLHFSTR token project will not be converted; holders of that token will receive points instead.
Market reaction
Traders reacted quickly. The ROM floor fell 42% within 24 hours to 0.027 ETH, about $61, while trading volume jumped more than 2,000%, with 138 sales in one day against 27 in the previous six days. The GLHFer floor dropped 23% to 0.245 ETH. Eight of the cheapest ROMs cost about 0.22 ETH combined, close to the price of a single GLHFer, leaving the two routes to a Legend roughly equal in cost.
Gigaverse said the change reflects its shift from a single game to a broader franchise, with Gigaverse Online in development. ROMs were first designed as resource factories for the original game. Co-founder Dith said the team had considered rewarding players and partner communities as well, but concluded that this would dilute the conversion for existing holders.
Legends will earn no yield and are pitched purely as collectibles. Supply will be fixed once the window closes, and the studio says it will release no further collections. Timing matters for ROM holders: Abstract is due to shut down on Dec. 15, and unconverted ROMs will be lost because wallets on that chain cannot be recognized on Ethereum.
Source: BlockchainGamerBiz