PLAY Token offers real-world utility and a supply linked to actual payment transaction made by WEMIX PAY users. This guide outlines the PLAY Token's design, utility, and economic model to demonstrate how it provides tangible value and utility within the WEMIX ecosystem.
Many digital currencies have no practical purpose and are created in excessive amounts, causing their value to decline. This lack of practical application and economic backing undermines the credibility and usability of these digital currencies.
The WEMIX PLAY gaming platform has launched over 50 Web3 games, many with their own gaming tokens. We have designed and analyzed the economic systems of numerous games to understand how factors like supply, demand, and player behavior affect gaming token performance.
Our findings show that even the most carefully designed Web3 games, including our own, experience token price declines when there is an oversupply and insufficient players. Even when the number of players stabilizes, existing tokens can still inflate prices. Additionally, as with any game, decreasing player interest leads to lower token demand.
The PLAY Token aims to lessen common issues affecting many tokens: lack of utility, excessive supply, and over circulation. To resolve these problems, PLAY Token offers real-world applications.
The PLAY Token is a digital means of payment to be used in the games that will be on the WEMIX PLAY platform. Once a game’s popularity increases, more gamers will want to spend time and resources playing the game. Via the PLAY Token, these gamers will be able to enjoy content and other perks that are unavailable to non-PLAY Token holders.
PLAY Token will only be issued when there is an actual payment transaction by WEMIX PAY, the payment solution to be used on the WEMIX PLAY platform. This guarantees that there is an economic explanation of the issuing, and not let the token be issued in just some random figure.
The PLAY Token is a dynamic and powerful digital asset at the core of the WEMIX PLAY ecosystem, offering exclusive privileges and benefits to its holders. Designed to unlock unique opportunities, the PLAY Token serves as a gateway to enhanced experiences and early advantages within the platform.
PLAY Token holders enjoy privileged early access to upcoming games on the WEMIX PLAY platform. They are granted the exclusive opportunity to exchange PLAY Tokens for specific game tokens at preferential rates, well in advance of non-holders. This strategic advantage allows them to begin participating in the earliest stages of game progression, giving them a significant head start and a competitive edge over others.
PLAY tokens serve as the exchange measure for acquiring in-game items, NFTs, and other digital assets, which may be unique and exclusive to PLAY tokens. These items will be carefully curated to provide tangible value and enhance gameplay experiences.
The PLAY Tokens are listed and available for trading on PNIX DEX. Enabling holders to freely trade their PLAY Tokens not only enhances liquidity but also creates new opportunities for exchange. This flexibility allows PLAY Tokens to be traded for a variety of digital assets, significantly expanding their utility and potential.
The utility of the PLAY Token evolves alongside the WEMIX PLAY ecosystem. Ongoing developments introduce new use cases, steadily enhancing the token’s value and expanding its potential.
The supply of PLAY Tokens is backed by the payment transaction volume processed through WEMIX PAY, ensuring a dynamic and sustainable economic model. With each eligible transaction, users earn WEMIX PAY Mileage (Mileage), a reward system based on the transaction amount. These can be converted into PLAY Tokens and used within the WEMIX ecosystem, creating a seamless connection between token supply and platform growth.
A credit system is in place to address potential refunds and chargebacks from WEMIX PAY. Users will receive credits for their WEMIX PAY transactions, and these credits can be exchanged with PLAY Token once the refund period has elapsed.
An initial token supply will be allocated for ecosystem development, including REFLECT 1 token exchange and marketing initiatives. However, the majority of PLAY Tokens will be issued based on actual Payment Transaction Amount.
To prevent inflationary pressures, a burn mechanism will be implemented. All PLAY Tokens spent within the ecosystem will be permanently removed from circulation. This deflationary measure helps to balance token supply with demand and contributes to long-term price stability.
An initial supply of 3 million PLAY Tokens will be allocated as follows:
Through a novel approach that ties token issuance to Payment Transaction Amount, the PLAY Token offers a sustainable model. As an integral component of the WEMIX PLAY ecosystem, the PLAY Token is poised to create a thriving environment for gamers and developers alike. By providing tangible utility, PLAY Token represents a significant step forward in the evolution of gaming tokens.
WEMIX3.0 is a leading EVM-compatible Layer 1 blockchain dedicated to revolutionizing the gaming industry. Since its inception in 2018, WEMIX has evolved from a private chain to a public mainnet, establishing itself as a cornerstone in the blockchain gaming ecosystem.
The recent Brioche Hard Fork marked a significant milestone in WEMIX's evolution, introducing substantial upgrades to tokenomics and platform functionality. By optimizing token economics and enhancing the WEMIX PLAY platform, we aim to create a more sustainable and rewarding ecosystem for both developers and players.
By accessing the information set forth in this document or any part hereof, you represent and warrant to WEMIX Foundation that you unconditionally and irrevocably accept and agree with the following:
It can be against the law for individuals or certain categories of individuals in certain jurisdictions, to view or peruse this document. Individuals who wish to view this document must first confirm they are not subject to any laws or regulations that prohibit or restrict them from viewing this document. Unless permitted by the applicable laws and regulations, any offering of the tokens mentioned in this document (the “Tokens”) should not be made, nor any documents should be sent, directly or indirectly, wherein participating in the sale of the Tokens are prohibited. For avoidance of doubt, nothing in this document is an offer to sell, or the solicitation of an offer to buy, any tokens. WEMIX Foundation shall not be responsible for individuals who access this document from territories whose laws or regulations prohibit such access to this document or where any part of the document may be illegal. Such individuals do so at their own risk.
All information is provided without any warranties of any kind and WEMIX Foundation, its employees, officers and/or advisors make no representations and disclaim all express and implied warranties and conditions of any kind and each of WEMIX Foundation, its employees, officers and/or professional advisors assume no responsibility or liability to you or any third party for the consequence of reliance on such information, errors or omissions in such information or any action resulting therefrom.
The information contained on this document concerning PLAY Token may contain statements that are “forward-looking statements”, which are anticipating possible future events prospectively and are not statements of historic facts. Some of these statements can be identified by forward-looking terms such as “aim”, “target”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “if”, “intend”, “may”, “plan”, “possible”, “probable”, “project”, “should”, “would”, “will” or other similar terms. However, these terms are not exhaustive. Forward-looking statements inherently contain risks and uncertainties as they relate to possible events or circumstances in the future. Therefore, the information, opinions, and forward-looking statements, including estimates and projections, in this document in respect of the anticipated roadmaps, development and projected terms and performance of the relevant entities, are selective and subject to updating, expansion, revision, independent verification and amendment.
WEMIX Foundation is not making any representation or warranty or undertaking, including those in relation to the veracity, accuracy, and completeness of any of the information set out in this paper. WEMIX Foundation also expressly disclaims any obligation or undertaking to update or revise any forward-looking statements except to the extent required by law. Neither WEMIX Foundation, its employees, officers nor professional advisors make any assurance, representation or guarantee that any event referred to in a forward-looking statement will occur. Whilst WEMIX Foundation intends to put best effort to fulfil all the goals set out in this document, in case of unforeseen circumstances, the goals may change or may not be achieved without any notice.
This document is for informative purposes only and does not constitute or form, and not intended to be, an offer or solicitation of an offer to buy or sell, subscribe for, underwrite, or purchase any form of investment or securities or other financial instruments, nor shall it or any part of it form the basis of, or be relied upon, in any way in connection with any contract or investment decision relating to the same.
None of the contents of this document constitutes legal, financial, tax or other advice. You must conduct your own due diligence and ensure you comply with all local laws regarding cryptocurrency, tax, securities, and other regulations in your jurisdiction. We strongly encourage you to consult with the relevant professional advisors independently and can deem or regard that you had done the former when and where you take actions relying on this document.
This document shall not be relied on when entering any contract or forming the basis of any investment decision.
The regulatory status of cryptographic tokens, including any digital currency, digital assets and blockchain applications is unclear or unsettled in many jurisdictions. The publication and dissemination of this document do not imply that any relevant laws, regulations and rules have been complied with. No regulatory authority has examined or approved this document. Where any relevant governmental authority makes changes to existing laws, regulations and/or rules, or where financial institutions make certain commercial decisions, it may have a material adverse effect and/ or impair the ability of any relevant entity referred to in the document to function or operate as intended, or at all.
This document contains information about PLAY Token in part, however does not represent the comprehensive content of PLAY Token in its entirety. The content of this document is subject to change in accordance with changes in the relevant laws and regulations, business situation and industry outlook, as well as the judgment of the management team. There may be changes in political, social, economic, and stock or cryptocurrency market conditions and/or that there is no or little acceptance/adoption of the relevant Blockchain system and/or Tokens, such that the relevant Blockchain system and/or the Tokens become no longer commercially viable.
Where references have been made to third-party websites or sources of information, we may not have sought further verification as to the accuracy, completeness, or timeliness of the information referred to therein, and no warranties whatsoever are made as to the same.
1 REFLECT is a token created by synthesizing certain individual tokens from games that have been verified as members of the REFLECT Alliance within the WEMIX PLAY ecosystem.