Most Tokens, NFTs, and Games start with the blockchain first, and entertainment comes second. This makes for experiences where the "entertainment" feels forced, hindering the growth of decentralized technologies and stunting rapid adoption amongst the masses. There is only a 2.5% adoption globally of blockchain technologies despite there being an 880% increase of adoption year-over-year, which is likely a result of unengaging usability. We believe that mass adoption will only come by beginning with the user experience in mind.
Tokens themselves are not difficult to create, but sound tokenomics are incredibly difficult to engineer. Long term, sustainable tokenomics require thorough planning, legal guidance, and technical diligence.
If a token doesn't have vetted tokenomics it is fair to question the long term feasibility. Here are questions to ask before acquiring any token(s):
- What are your tokenomics?
- Are they sustainable long term? How so?
- What kind of legal resources do you have?
- What is the utility of your token? (not monetary)
Ever see an extremely high APR/APY on a token that seems too good to be true? Many tokens are inflationary at an unsustainable rate. These high percentages are often used to attract unaware participants and are susceptible to high downward volatility. The more tokens introduced to the ecosystem, the more diluted the end product.
Consequence of token saturation and poor tokenomics:Imagine adding equal parts of coffee and water, this means your cup of coffee has 50% the caffeine potency. Now take that mixture and add an equal amount of water again, it would be at 25% potency. Continue this pattern and within a short period of time, you're drinking water with a hint of coffee flavor. This is the equivalent to tokens with a high issuance rate.
Most NFT projects serve solely as art and profile pictures. We emphasize high-quality art, while holding the belief that utility is the ultimate value of NFTs. We focus on providing our NFT holders value in the form of entertainment and token rewards for staking NFTs. $Greens utility tokens can be used within the Virtually Made ecosystem.
Tokens with no utility offer an extremely narrow range of solutions. We believe that most tokens require some type of utility to sustain long-term success. The token has to be more than a means of exchange and be usable within an ecosystem. The Virtually Made brand will be an entertainment ecosystem that will operate by exchanging $Greens utility tokens. Utility comes in the form of applications such as our games, comics, music, merchandise and more.
Centralized institutions offer limited opportunities, which are not available to the average person. This inequality means we are not all playing on a level playing field. For example, being a Market Maker on a Centralized Exchange is a privilege for a selected few due to entry barriers. However, on a Decentralized Exchange, opportunities are equal regardless of the situation.