The new tokenomics focuses on adding more value to the $XWG game with new burning mechanisms and plans to launch an exciting feature for Dream Card NFT holders.
Revamped XWG Tokenomics
X World Games (XWG) has unveiled plans for its native $XWG token in the future. In addition, the GameFi protocol intends to implement new burning mechanisms, which would improve its ecosystem and add value to its token.
Token burn is upbeat for XWG and, most importantly, token holders. The concept helps stabilize the value of $XWG and reduce the risk of price inflation. Burning $XWG will reduce its circulating supply and improve its unique metaverse. The protocol plans to introduce numerous burning mechanisms, outlined in its Medium article published by Co-Founder Edwin Liu on March 20.
“X World Games will introduce many forms of burning mechanisms into our XWG ecosystem. We are excited about how this will solidify and strengthen our project by bringing stability and balance to our $XWG token. The future and volatility of XWG are bright!” wrote Edwin Liu.
In no particular order, XWG plans to implement transaction fee token burning, Dream Card Non-Fungible Token (NFT) and Token burning, Burning Tax, Profit Burn, Burning in its Decentralized Autonomous Organization (DAO) governance system, and upgrades to its pool systems.
First, XWG will upgrade its recycle pool systems. Presently, the protocol’s recycle pool system consists of Dream Card v1 and v2 card upgrades and equipment purchases, designed to distribute $XWG throughout its ecosystem and rewards pool. The protocol plans to upgrade the current system with a burning mechanism to burn a portion of its recycled pool of $XWG monthly or quarterly. Simultaneously, the remaining amount will be used for future reward pools or lottery pool allocations. After upgrading the recycle pool, XWG will implement other burning plans. Read the protocol’s Medium article for the full report.
The XWG token is currently worth $0.04246 with a 24-hour trading volume of $21,391,383, according to CoinMarketCap. The token also surged to $0.058 on March 21 before correcting. $XWG was one of the outstanding GameFi tokens last year, trading at $0.2, but the token has gone bearish due to market volatility. With the forthcoming burning mechanism, BSC News expects the token to be on a bullish run, not necessarily a new All-Time High (ATH), but a healthy increase.
GameFi and NFT Updates
XWG has established itself as a top name in the GameFi industry on BNB Chain. Currently, the protocol is the sixth most utilized blockchain gaming platform on the leading chain in the last seven days, according to DappRadar’s ranking. The protocol was also featured in Gameverse’s tweet on March 21. Gameverse is an infographic and informative news page on Twitter for the GameFi and Metaverse industry. https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/gameverse_/status/1505782791979806722&image=https%3A//abs.twimg.com/errors/logo46x38.png
Moving away from the protocol’s growth in the NFT and GameFi space, XWG has decided to launch a new feature for its native NFT holders. The protocol’s NFTs––Dream Cards––allow users to perform numerous activities within the game. So, they can be customized and grown into new characters with different powerful attributes to battle with opponents.
While holders can trade Dream Cards in the NFT market, XWG will launch a new borrowing and lending feature. However, the protocol is yet to elaborate more on the new feature. Nevertheless, as disclosed on March 21 via a tweet, the new feature would be released soon.
What is X World Games
X World Games is a blockchain trading card gaming ecosystem. The protocol aims to bring cryptocurrencies to an open gaming world, where users and gamers can collect, create, and trade in-game NFT items as they take part in multiplayer games worldwide.
Where to find X World Game:
Source : bsc.news
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