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Blockchain Gaming Platform Soars 37% This Week Amid Upcoming Hard Fork and Token Burn
A gaming-focused blockchain platform has defied a surging cryptocurrency market and rallied 37% this week ahead of an impending hard fork and token burn.
MIXING is a crypto project that bills itself as an “experience-based, platform-based, and service-oriented mega-ecosystem.”
More than 580,000 people uses its own blockchain gaming platform, WEMIX Play.
At the time of writing, the project’s native token is trading at $1.37, up from $1.01 seven days ago.
WEMIX has seen gains as users eagerly await the “Brioche Hard Fork,” which will revamp the project’s tokenomics. The hard fork is scheduled for July 1st.
Explains MIXING,
“This milestone will introduce a revised minting rule, reducing WEMIX issuance per block across 16 updates. This change aims to increase the value and growth of WEMIX, marking the first step towards mutual growth with the community.
Secondly, WEMIX will unveil an improved WEMIX PLAY, where ecosystem performance directly impacts tokenomics. Specifically, the goal is to ensure that revenue growth driven by game expansion directly impacts the WEMIX ecosystem.”
The WEMIX Foundation also says it intends to burn approximately 435 million WEMIX tokens held in reserve.
“The burning of foundation reserves will reduce the available supply, transforming WEMIX from a foundation-driven ecosystem to a community-driven one. This shift fosters a community-friendly tokenomic model that fosters mutual growth.”
Despite this week’s gains, WEMIX still remains down more than 94% from its all-time high of $24.71, reached in November 2021, according to CoinGecko.
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