Towards the tail end of last year, the metaverse was the most popular crypto concept. It grabbed the world’s attention. Also, metaverse gained mainstream attention after Mark Zuckerberg-led Facebook changed its name to Meta. The name change indicates the media giant’s interest in the growing metaverse space.
The metaverse is the future of tech. As a result, several projects have been launched to spread the adoption of the growing concept. Early adopters already enjoy the potential. Player-owned economies, NFTs, games, and a host of other concepts have made the space thrilling for the old-timers. However, it is a different tale for newbies.
As with most blockchain projects, there is the problem of complexity. Navigating the metaverse is a difficult task for most newcomers. There are several realms, projects, and updates on the metaverse. However, it is almost impossible for these newbies to keep up or explore. As a result, there is a need for a platform to offer exposure to these newcomers. MetaBrands is that platform.
A Revolutionary Platform
MetaBrands launched in October 2021. It is a Metaverse platform that exposes newbies to the thriving metaverse world. The newly-launched project is a Resource DAO that offers awareness to users. It allows holders of its native token, MAGE, and the MAGE Relic NFT to interact in the Metaverse. Also, MetaBrands works as a team to provide a unique experience for its users. It offers access to the best play-to-earn platforms.
Furthermore, users can access other metaverse communities. Additionally, there are opportunities to interact on MetaBrands. Users can collaborate, express their ideas, and profit from the platform’s overall growth.
The MAGE Token
The MAGE token is an important aspect of MetaBrands’ community. It has a wide range of use cases. The MAGE token symbolizes MetaBrands and its community value. Acquired assets and yield-generating operations reflect this worth.
The MetaBrands project is a key project in the metaverse in 2022. From how the community runs to the tokenomics model, the project looks all set to be the next big thing in the metaverse. Understanding how the MAGE token works is key to benefiting from the MetaBrands project.
MetaBrands operates a tokenomics model that promotes a rising floor. It does this by providing a robust and long-term deflationary supply of MAGE tokens, per the team statement. Also, token burning via the minting of MAGE Relic NFTs is a fundamental feature enabling this design. For users to claim and mint their MAGE Relic NFT, they must sacrifice or burn MAGE tokens. This would remove them from circulation permanently. Furthermore, 10% of the DAO’s earnings is for repurchasing and burning Mage Tokens monthly. This would significantly decrease the token’s total supply.
The MAGE Relics NFTs
The MAGE Relics NFTs are widely considered as the entry tickets to the metaverse. They serve many purposes that profit their owners. For example, they grant owners access to rewards on MetaBrands and other platforms. Seeing that these relics are important in the MetaBrand platform, they receive top priority from the project.
The team behind MetaBrands shared with us that relics receive an 80% allocation of monthly revenue. These are earnings created by the Metaverse Resource DAO, DAO voting permissions, and access to top-tier in the MetaBrands ecosystem. MetaBrands is on the constant search for collaborations. These are partnerships to support the integration of MAGE Relic NFTs into various ecosystems. As a result, owners, projects, and communities get more value. These Relics’ importance cannot be over-emphasized. They truly serve as a key in the metaverse as they have value on both MetaBrands and other platforms.
Staking and Mining Details
Besides being fun to use, MetaBrands has a number of opportunities to earn too. The platform will deploy a double-sided staking contract on both the Ethereum and Avalanche ecosystems as additional ways to get the MAGE token. These launches will permit two types of liquidity mining and staking.
Single-sided staking permits the lock of MAGE tokens in a smart contract. Users can then pick a flexible schedule for the lock. This will usually range from 1 to 52 weeks, per a company statement given to Altcoin Buzz. To encourage healthy and organic market growth, tokens will be automatically released after that period. Furthermore, users will get MAGE tokens earned through this scheme a year later.
The alternative type of staking will be “farming,” in which users can contribute to the official MAGE liquidity pools. This allows them to earn more MAGE tokens in exchange for boosting market liquidity in decentralized markets.
A Limitless Platform
MetaBrands considers itself a limitless platform. Since the metaverse is all-encompassing, MetaBrands is not restricted to a single blockchain. As a result, it intends to spread to other blockchains. The first extension will be to Avalanche. MAGE token holders can move between both platforms without difficulties.
In addition, MetaBrands has positioned itself to support Avalanche’s growth. It intends to support games and other projects on the blockchain.
Finally, with the Metaverse still in its infancy, hooking up to a good platform will be a good start. MetaBrands offers newbies the chance to experience the metaverse. Check all MetaBrands social media pages for more details on the platform.
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