8.2 Utility of MVP Tokens

MVP tokens will be our in-world currency. Based on the BEP-20 standard, MVP tokens will be vital to the Microverse’s economy, and will facilitate seamless transactions at a far lower cost compared to the Ethereum network. For ordinary consumers, transactions performed on the Ethereum network may be prohibitively expensive, even after the London hardfork. The Microverse team decided to choose the Binance Smart Chain for the Microverse platform’s native token as it offers just as much utility as the Ethereum network, and can offer higher throughput, and similar functions such as NFT minting and smart contracts. Microtransactions will be fast and at a low cost, which would help players interact seamlessly within the MicroWorld without any concerns for transaction costs.

Users can also use MVP tokens to purchase PLOTs of land within the MicroWorld, at a rate of 10,000 MVP to a PLOT. MVP tokens used for land purchases will be burnt permanently and removed from circulation, thereby ensuring that the network maintains a deflationary model. MVP tokens will also be used for the resale of PLOTs within the secondary market, and a portion of the transaction fees charged for the sale will also be removed from circulation. NFT collections will also be periodically launched by the Microverse team, and only MVP tokens will be accepted for their purchase.

MVP token holders can also participate in liquidity mining, and they can stake their MVP tokens to receive periodic rewards. In the future, NFTs can also be staked, and users can receive unique rewards in the form of exclusive NFT products and bonus returns.