Many new digital assets use a popular fundraising method to help launch their token, known as an ICO or initial coin offering. ICOs earn capital for digital assets in their early stages by minting a certain quantity of their native token and offering them to early investors.
ICOs are a safe way to ensure a successful token launch as they allow the project to gain some steam right out of the gate. As of March 2020, there were 2329 ICOs launched in the digital asset industry.
However, new token offering models have emerged as the industry progresses and evolves.
One project trying an entirely new approach to launching its digital asset is Nekoverse. Nekoverse is an MMORPG game with play-to-earn mechanics, built using Solana blockchain technology.
Nekoverse recently announced one of the unique features that its platform provides, which is an Initial Community Contribution Offering or ICCO. An ICCO is “the first of its kind token offering model that is created by and catered specifically to Nekoverse.”
ICCOs work differently than traditional ICOs, providing additional, community-based features and benefits, as the name would suggest. The following section will break down precisely what ICCOs are and what they will provide the user.
Nekoverse’s Initial Community Contribution Offering
Nekoverse has created this innovative token offering to encapsulate and redistribute the value created by its community. The ICCO will evaluate the level of contribution of each community member individually and distribute the $ASG token based on that evaluation to ensure the launch of the token is entirely fair.
Nekoverse’s innovative and unique coin offering provides a slew of different features that set it apart from ICOs that other digital assets initiate. The unique core features ICCO provides are:
- Contribute-to-Earn System – The contribute-to-earn system allows users who contribute to the development of the Nekoverse through a set of mechanics to earn real monetary value.
- The Anima Spirit Fragment Pseduo Token – Anima Spirit Fragment or $ASF exists solely on Nekoverse’s Discord server. It is earned by being active within that server, owning Nekoverse’s NFTs known as Neko NFTs, and contributing to the Nekoverse community through various activities. $ASF is at the core of Nekverse’s reward system and incentivizes community members that contribute to the overall growth of the platform. Through the ICCO token offering model, users can convert $ASF to $ASG.
- The Anima Spirit Gem On-chain Token – Anima Spirit Gem or $ASG is the official Nekoverse in-game token that exists on-chain and can be traded on both centralized and decentralized exchanges.
- Conversion Mechanic Between $ASF & $ASG – Holders of Neko NFTs that have been verified on the Nekoverse Discord server will be the only users eligible for the $ASG distribution. They are limiting who is eligible for the token as they only want to distribute them to users that will utilize them for their intended purpose as the official in-game currency, ensuring that they end up in the hands of the Nekowners and players of the Nekoverse game.
The Nekoverse Play-to-Earn, MMORPG Game
Nekoverse is both the projects play-to-earn massive multiplay online role-playing game (MMORPG) and the name of their metaverse.
Their metaverse allows players to choose their own paths to explore while engaging in PvE and PvP gameplay with other players. On top of the exciting player-versus-player-oriented gameplay, users can also participate in more relaxed activities like exploring the world, farming for resources and crafting items.
Nekoverse offers a comprehensive decentralized in-game economy driven by players and a Guild system utilizing in-game DAO Governance mechanics through blockchain technology. Using both the player-driven ecosystem and governance mechanics, users will not only own the assets but also control and be part of the development of the game’s narrative.
The game is driven towards providing absolute control to the players by allowing them to create their own paths and find their roles within the metaverse and community.
This exciting new token offering model shows the digital assets drive and motivation to always be innovative and evolve, while also paving the way for other unique forms of launching tokens.