The LFW Closed Beta Test has been welcomed by both the financial and gaming communities. Apart from the full product, which includes everything from the Legend Marketplace to the LFW game, we are happy to be rated as the greatest blockchain game available on the market by people who joined the beta.
Today, in addition to play-to-earn, we'd like to share to everyone our play-to-burn mechanism as well. This will sustain the LFW coin's price and the NFT's value over time.
// Until 100M LFW Tokens Supply Reaches
We will burn LFW until the total supply hits 100M LFW tokens.
To create an ideal in-game economy that is both attractive and rewarding in terms of play to earn, an economic model is required. Through real-time monitoring and data analysis using the most powerful algorithms, we can support players' earning mechanisms in the most rational and sustainable manner possible.
Items discovered by a player may be needed by another, and vice versa.
This will encourage players to participate in the game and gain incredibly valuable items that can be exchanged between players or sellable on the market.
In principle, burning tokens in the Crypto market is comparable to buying back equities in the financial markets, as it contributes to the market's circulating supply. However, because of the highly specialized nature of the crypto market, many projects do not purchase back tokens with reserve stable coins, but rather burn fees from user activity on their coins.
This is necessary in the long run to ensure the project's sustainability.
At LFW we do both!
Purchase back tokens
Burn fees from users’ activities
// LFW Token Burning Mechanism
1. Revenue from selling Legend NFT Heros will be used to establish a reserve fund for the purpose of buying back and burning tokens as necessary to protect token holders' interests.
2. Each NFT transaction on Legend Marketplace will bear a fee of 4%:
1.5% will be used for burning
1% for maintaining and developing the product
1.5% for reserve.
3. A portion of LFW tokens gained will be utilized to burn from special items (such as skill books, mystical crystals, etc.) It is a way for gamers to simultaneously enjoy the game and contribute to the project's long-term sustainability.
4. By depositing LFW to play games
26% of revenue will be burned
41% will be utilized to operate LFW
33% will be used to provide awards for PVP, PVE, or tournaments.
The first burn event will be announced in the near future.
Follow LFW channels to keep up with our latest news.
About Legend of Fantasy War
Legend of Fantasy War is a unique 3D turn-based role-playing online blockchain game. By blockchainizing in-game items, the game provides players ownership of in-game items by owning so-called Non-Fungible Token (NFT). With an engaging storyline, players can both entertain themselves and collect valuable items, even increase the value of items while playing games solo or with others. Thanks to the blockchain of items, owners of NFTs can sell, exchange, and auction transparently on the Legend of Fantasy War NFT marketplace. One of the strengths of the game is the nature of the community. Thus, the game offers a fantastic mechanism that the player and their friends can enjoy the rewards together forever. In short, the game is easy to play and collect valuable items.