Introducing Thales Royale Pass NFTs 🎫
We’ve written before about Thales Royale and in this post, we’ll introduce a new way of signing up to these events, but before that for those who don’t know…
💡 Pro tip: If you are already familiar with Thales Royale you can skip to the second part of this blog post or jump directly into our documentation regarding Thales Royale NFTs.
What is Thales Royale?
Thales Royale is a sequential positioning game based on the price of ETH played in rounds (currently 6 rounds), where the winner(s) take the whole prize pool. Thales Royale is currently played on Optimism network.
Pretty simple, eh?
Going a little more into details, Thales Royale events are organized into seasons. Each season has a buy-in price of 30 sUSD (Synthetix USD, a stablecoin pegged to the dollar).
Each season starts with a 72 hour registration period and after that, the 24-hour rounds start. Each round has the first 8 hours for positioning (choosing UP or DOWN relative to the presented ETH price) and then 16 hours waiting for the resolution (where changing positions isn’t allowed anymore).
At the beginning of each round, the smart contracts that compose Thales Royale select an ETH strike price (provided by Chainlink feeds) and present the player with two choices: Will the price of ETH be higher or lower in 24 hours?
At the end of the round, the smart contracts compare the strike price to the actual price (also provided by Chainlink feeds). If the player chose correctly he advances to the next round. If not, that’s the end of the game for said player. All the player(s) that make the right choice for 6 rounds in a row win the Season and take home their share of the prize pool.
You can find a more detailed explanation, including step-by-step guide with screenshots here in our documentation.
So, now that we are clear on what Thales Royale is, let’s go to the next question…
What are Thales Royale Pass NFTs?
For the first two seasons of Thales Royale on Optimism the only option to participate was to pay the 30 sUSD buy-in directly during the registration phase.
With the introduction of TIP-29 and Thales Royale Pass NFTs, beginning from Season III (starting today, Feb 28th!), you’ll now be able to sign-up for any Thales Royale Season (with a buy-in of 30 sUSD) by either paying the 30 sUSD directly or redeeming a Thales Royale Pass NFT.
The rationale behind incorporating this is that now interested players are able to mint a Thales Royale Pass NFT directly from the website UI, even when there isn’t any Season being played, so they can have their entrance ready (think about it like holding a ticket to any movie show that has the same entry value).
Another benefit of this initiative is that now it’s way easier to share your passion for Thales Royale with other people. You can mint more than one Thales Royale Pass NFT at a time and send those to anyone you wanna invite to play, so they can feel the thrill and all the emotions associated with choosing correctly and advancing through the Royale rounds.
You can check your Thales Royale Pass NFTs on Quixotic. Here’s the link to Thales Royale Pass NFTs collection on Quixotic.
If you want to send these NFTs you can do so on Quixotic UI or by manually adding the token address to MetaMask, and then sending it as a regular token. We’ll have a way to transfer these NFTs directly in our UI soon.
Speaking about sharing, having the entrances as NFTs on Optimism makes it much easier for us to distribute these along with different initiatives, for example having them as prizes for competitions (like Kwenta’s recent poker tourney, where top 10 players got Thales Royale Pass NFTs), or raffling them on Twitter or Discord.
And last, but not least, having these Thales Royale Pass NFTs is the first step in developing further NFT representations of Thales Royale positions, expanding the flexibility and utility for Thales Royale participants 💪.
What to do next?
If you wanna participate in Thales Royale, either by paying the 30 sUSD buy-in or redeeming a Thales Royale Pass NFT, here’s a reminder of the next scheduled seasons:
- Season I: Monday, January 31st, 16:00 UTC
- Season II: Monday, February 14th, 16:00 UTC
- Season III: Monday, February 28th, 16:00 UTC
- Season IV: Monday, March 14th, 16:00 UTC
- Season V: Monday, March 28th, 16:00 UTC
- Season VI: Monday, April 11th, 16:00 UTC
💡 Pro tip: If you are going to participate don’t miss all the fun that happens inside the thales-royale channel.
May the odds be with you, Titans!