Tokenomics of Metaverse

Fiat money, or money as we know it, has long been the layman’s medium of exchange. For decades on end, daily activities from shopping to getting a haircut have necessitated monetary transactions making them an indispensable element in our lives.

Despite its infinite number of use cases, Fiat money has one significant flaw: It is centralized in the hands of a single authority, whether it be the government or central banks. Reign over financial markets has solely been under the authority of the aforementioned institutions. Individuals who lead said entities are naturally capable of making mistakes, disastrous ones at times. Whether it be greed or limited mental capacity, these mistakes have had dire repercussions on entire populations and led to economic calamities such as unemployment and inflation. Prominent examples can be the housing bubble of 2008 or even the covid financial crisis that we are still relatively experiencing.

As a result of the centralized financial system, every monetary transaction necessitates an intermediary. Individuals have to give up personal information, the security of which is not guaranteed, as well as deal with technical problems and staff incompetence to make a transaction. In 2021, citizens still have to wait in long queues in front of ATMs to extract some cash.

For these and other reasons, tech enthusiasts and changemakers have started looking for an alternative. They wanted to build a decentralized financial system that eliminates the middle man. And so, tokenomics came to life.

In our current world, fiat money derives its value from our intersubjective reality. It is the common belief in the value of the concretization of the dollar bill that enables it to be exchanged for tangible goods or services. Additionally, the federal government’s reassurance and guarantee in the form of the certification of the dollar also play a major role in adding to its power of exchange.

The same can not be said about digital tokens or cryptocurrencies as they are not issued by a central entity that certifies their value. They derive their value from the functionalities and prospects of growth that they offer to buyers. Before proceeding to purchase a certain token or cryptocurrency, one ordinarily studies its elements and the projects that revolve around it. The study and analysis of what makes tokens valuable are Tokenomics.

The issuance of money has long been a controversial topic of debate among policymakers and economists. Governments have diachronically tended to create more money in case of need overseeing the fatal repercussions that might have on the economy. Unaware that issuing new currency might lead to a reduction of the value of the existing money or an “inflation”.

In contrast, cryptocurrencies avoid this problem by proceeding to a system of automated schedules of issuance that are pre-set and algorithmically created.

Tokens can be illustrated as units of value that have pre-defined objectives. They exceed the function of the medium of exchange by serving a tangible purpose. For instance, a token can be a movie ticket that can be used to get in cinemas as well as to be traded for something else.

Metabits, the governance coin of our Metaverse project, has been created. We will start the public offering of our tokens in the coming weeks. Stay Tuned!

It is very important for us at Metaverse to be transparent about our token distribution process.

We have prepared a detailed distribution and an infographic to be illustrated in the following:

The token will be distributed under the ticket name of “META” on the Binance Smart Chain with a maximum supply of 500,000,000 tokens.

The shares of each entity and their distribution schedule are as follows.

• Founders: 2% (META10,000,000)

Schedule: 10% after 9 months for 10 months

• Foundation: 4% (META20,000,000)

Schedule: 10% will be released to the voted foundation

• Advisors: 1% (META5,000,000)

Schedule: 10% will be released per month after three months of public launch for 9 months

• Treasury: 16%(META80,000,000)

Schedule: 10% will be released per month after three months of public launch for 9 months

• Developers: 8%(META40,000,000)

Schedule: 10% will be released per month after three months of public launch for 9 months

• Seed Sale: 8% (META40,000,000) for the price of $0.01

Schedule: 10% on seed sale, then 10% per month after three months of public launch for 9 months

• Private Sale: 8% (META40,000,000) for the price of $0.03

Schedule: 10% on private sale, then 10% per month after three months of public launch for 9 months

• Launchpad: 8% (META40,000,000) for the price of $0.25

Schedule: Unlocked on Launchpad

• Community: 45%(META225,000,000)

Schedule: Will be airdropped to active communities every quarter for 4 years

As you can notice, we have reserved the lion’s share for our communities as we believe in the impact that you can do to make this project successful.

Be on the lookout for our next offering happening in the coming weeks.

For more insight on the project, check https://metadapp.org/ and make sure to follow our Twitter (https://twitter.com/metadapp) to be updated.