Tokenomics of the NetVRk Project
Introduction
Tokens and digital assets are one of the most basic requirements to be met when establishing a blockchain platform or crypto-based business. It belongs to the class of elements that represents every blockchain network within the industry. Tokens can enable businesses and platforms to operate in the appropriate environment and deliver the necessary applications and offerings to clients. It forms the crust of validating all payment processing and financial transactions, by ensuring a secure, fast, transparent, and reliable service to all users. The use cases of tokens across the entire crypto market make it a compulsory aspect of all platforms. Whether the blockchain project majors in decentralized finance, payment processing, or decentralized exchange, having a digital asset is considered paramount. Another major influencer of why tokens are becoming significant in the industry is that there is massive adoption of blockchain technology and cryptocurrency across major businesses and organizations. This gave rise to a field of token economics called Tokenomics.
We can define Tokenomics as the field that defines the nomenclature of tokens, the total volume in circulation, and how it is distributed for various purposes. It contains provides information on which blockchain network the assets are built and supported. While the NetVRk network may belong to a handful of crypto-based platforms that integrate their operations on blockchain technology, it adopts the Ethereum blockchain network to support its token, and this enables the compatibility of the asset with all ERC-20 supported digital wallets. As a virtual reality platform, the allocation of the network’s assets hinges on purposes relating to the promotion of content creation, advertisement, gaming, and others.
The development team and founders of the NetVRk project developed about 100 million tokens. They also identified specific purposes to allocate these assets, which will enable the platform to achieve all set goals and objectives. The distribution of the tokens are as follows;
Team
The team will receive about 12.5% of the total supply of all tokens. It will serve as an incentive to encourage them for their diligence and knowledge in developing the network. However, the tokens will be locked for about 8 months before distribution is made to the team members.
Operations
About 5% of the total token volume will be utilized for running different operations within the project and the assets will be locked for 3 months before release.
Marketing
As a means of creating awareness and publicity about the NetVRk project, the management team allocates about 6% for this purpose, but it will be locked for about 3 months.
Advisors
Special allocations will be made for advisors who offer professional guidance that help the project develop. 4% is allocated to these team members, but the tokens will be locked for a month.
Pre-seed Sale
6% of the assets are allocated for this sale which will go for $0.04 per token.
Seed sale
7% of the total volume is kept for this purpose where the tokens are sold at $0.07 for each token.
Private Sales
There will be two different private sales, about 6.5% @ $0.085 and 2.7% @ $0.011 of total tokens for the first and second sales respectively.
Public Sales
About 3% of the entire volume of tokens in circulation is allocated for these sales, and the assets will be sold for @ $0.15 per token.
Staking / Early Incentive Rewards
This distribution purpose receives about 20% of the total tokens.
Community Enrichment wallet
As a community-driven project, the NetVRk network provides support to its users and 20% of their entire assets is allocated for it.
Exchange liquidity
About 3% is provided for this purpose.
USEFUL LINKS
Website: https://netvrk.co/
Whitepaper: https://whitepaper.netvrk.co/
Telegram: https://t.me/NetVRk_Official
Facebook: https://www.facebook.com/NetvrkVR
Instagram: https://www.instagram.com/netvrk
Twitter: https://twitter.com/NetVRk1
Discord: https://discord.gg/baAhdCHUnb
AUTHOR'S DETAILS
Bitcointalk Username: Onyiiok
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2766257