OVR launched a new token burning plan on November 1st Make your tokens more rare and valuable. As a result in the first month of November, a total of 246,000 OVRs were destroyed.
Numbers for the first month of OVR and the token burning program
OVR Update token economics Starting on November 1, 2021, the OVR team burned nearly 1 million tokens in May last year.
By the end of last month, The platform collected a total of 615,365 OVRs from its OVR and NFT sales, Does not include GAS cost.
As expected, the token burning plan foresees 40% of the collected OVR is destroyed, and 10% is used for incentives OVRLand sales, monthly draw OVRLand buyers use Chainlink VRF.
In fact, for the month of November 2021, The total number of tokens burned is 246,146 OVR, And it is 61,536 total ratings Has been working on OVRLand Draw on Chainlink.
Generally speaking, the more OVRLands purchased on Chainlink, the higher the probability of winning.
OVR and its updated token economics
In order to update its token economy, OVR has adopted Smart contract combustion Do your own OVR tokens are scarcer and more valuable.
In order to better understand this concept, it would be useful to temporarily lower the estimate and decide Of the 1.6 trillion available OVRLands, only 100 million OVRLands Considering the points corresponding to the points of interest recorded on the open street map, it is assumed that each point of interest is not more than 1 OVRLand.
That being the case, if The cost of 1 OVR land is US$10, and the price of OVR is US$1, The total sales of 100 million OVRLands will generate 1 billion total reviews. This one:
- 400 million OVR will be burned;
- 100 million OVR as lottery prize For those who bought OVRland on Chainlink.
The next level of AR Metaverse and Map2Earn
Recently, OVR also Announce development of OVR Land Surveying and Mapping. In essence, thanks to AI capabilities, OVR is Generate detailed 3D maps of the physical world in Metaverse on another level, Based on a simple image taken from his smartphone Users who have decided to participate in Map-to-Earn.
In fact, OVR users who joined the initiative became a reality OVRland scanner And just put your smartphone in your pocket and scan the physical location to earn OVR tokens.
This is A new way of monetization, Similar to decentralized finance or DeFi games for its users to provide games to earn revenue.
OVR Map2Earn is a revolutionary map system technology Overcoming the accuracy limitations of GPS, the newly scanned OVRLands have a positioning accuracy of up to 10 cm.
To learn more about this project, please visit websiteAnd follow the team on social media.
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