Web3 keeps on scaling. Both the industry and its players seek new opportunities to enter and boundaries to overcome. But some projects are gaining popularity and transforming it into a cutting-edge thing.
Enter WorldToken (not to be mistaken with Worldcoin), a notable start-up bringing a new notion of board gaming into the crypto landscape.
WorldToken has been recently listed on the WhiteBIT crypto exchange, earning the trust of users. But is it a credible investment?
Let’s get the ball rolling!
What Is WorldToken
WorldToken (ticker: $WORLD) is a utility token for the World Challenge Game ecosystem. It is a gaming company that pioneered the first-ever board game, synergized with blockchain technology and a mobile app. How does that combination work?
According to the World Challenge Game official website, its gameplay can be performed through two options:
- The traditional way, using the game board and question cards to play in real life.
- Online, playing with the users from the PC, mobile phone, or tablet, and using a specific NFT as an avatar. This very NFT can be obtained with the purchase of the board game for free.
The players of the World Challenge Game can leverage NFTs to unlock rewards. Additionally, some of the most exclusive non-fungible tokens will unlock in-game advantages.
Still, as was previously mentioned, WORLD is not only a tool for advanced crowdfunding. Apart from the NFTs, it has an integral utility in the game ecosystem.
Tokenomics and Utility
According to the white paper, 21 million tokens will be mostly distributed for the team, rewards, private sales, and staking.
The utility of the token focuses on two sectors: within the game, and the ecosystem.
In the game, WORLD is used as a virtual currency. With it, players can access private games and paid tournaments, improve their DIY NFTs, purchase reward packs and season passes, acquire power-ups and advantages for certain games, and remove advertisements, among other things.
Meanwhile, the ecosystem offers to utilize the token on the in-game marketplace and participate in the staking program. The latter is promised to ensure rewards for keeping WORLD tokens, LP with another token, and NFTs in the liquidity pools.
Crucially, WORLD is a utility token with a deflationary model. This means a portion of the company’s profits from advertising and in-game microtransactions will be used to buy tokens from the market through buybacks.
Some of these tokens will be allocated to reward players each week, while another portion will be burned.
WhiteBIT Launchpad offered 526,320 WORLD tokens for distribution for the initial price of 0.95 USDT.
The distribution will be carried out in stages. 20% of tokens will be credited to users’ main balances within the initial distribution, while the distribution of the other 80% will start on 22 Dec 2023, and be carried out once a month for 12 months in equal monthly installments.
Gladly, I’ve managed to take part in the presale that lasted only for 1 minute and 17 seconds. It does reflect the trustful attitude to the WhiteBIT exchange by its users.
Additionally, WhiteBIT maintains an option of allocation – the specific range of the amount of USDT that can be debited from the user’s balance for the voting process.
That is, seeing that only verified and long-standing users could participate in the launchpad, the possibility of price manipulations to take place, and multi-accounters to participate has been severely reduced. That can be rather uncomfortable for some users, but it ensures a steady and secure launchpad vote.
Ultimately, the robustness of WhiteBIT is on the face of it. Previously, they listed Scamfari – a service for scam and money laundering prevention. It was hosted on the exchange as a result of community voting, just like JovJou – a tokenized real-estate software.
While the distribution is yet to take place, it is unknown how WORLD will perform in the future. Still, the release of the World Challenge Game will surely pump the asset.
Disclaimer: This article is neither a promotion nor a financial recommendation. Always do your research, stay cold-headed, and trade cautiously.