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MicroPets Announced a Massive Overhaul to Their Rewards System
Washington, USA, Feb 16, 2022 - (ACN Newswire) - MicroPets, one of the most popular crypto projects on Binance Smart Chain with over 68,000 holders, has announced a massive overhaul to their rewards system. Although the changes just rolled out, MicroPets has already experienced a 100%+ increase in their price within a short period.
Rewards Changes
Like nearly every NFT staking project out there, MicroPets rewarded its native asset ($PETS). Since inception the team had given out an estimated $10.5MM in rewards–That's just three months! Despite the team hitting an all time high of $207 million, the selling pressure from rewards was a constant drain on the price.
The new rewards changes are a game changer and have been called genius by members within their own community. The team has dramatically limited rewards in $PETS tokens and instead gone with a completely different approach that combines NFT burning with BNB rewards.
The MicroPets team created two distinct pools: Unevolved and evolved. Investors who choose to receive $PETS rewards receive a tightly controlled quantity on a monthly basis. However, with the evolved pool, users receive BNB rewards in addition to the ability to buy $PETS tokens with BNB completely tax free. The result is a green wall that enables investors to dollar cost average their BNB rewards with a 0% buy tax while helping pump the chart at the same time.
Evolution
Knowing the NFT supply was high, the team incentivizes users to burn an NFT to begin the evolution process. Pairing an NFT with one of equal or higher rarity, the user burns one of the two and the NFT enters a 14 days incubation period. After, the user collects the Evolved NFT, which then enters the BNB staking pool.
The result? A reduction in NFT supply, less reward demand due to the incubation period, and a great pump, especially when you consider the team has put 800 BNB in the Evolution pool for the first 30 days. As of this writing, the reinvestment rate of BNB rewards is 85%, which is an incredible metric.
Data-Driven Decisions
The team has also brought on another key role that will support them in analyzing their blockchain data, ensuring live statistics on everything from rewards and reinvestment rates to pet prices, in addition to all major financial decisions. Such practice is a rare sight in the world of Decentralized Finance (DeFi), yet puts MicroPets in a class of its own. This level of transparency and insights is simply very very uncommon.
In fact, the team plans to use these key metrics to reward the right actions regarding the reward systems, ensuring a 30 days review with the community with performance goals.
P2E Innovation
MicroPets Runner is due out this quarter and is developed by a renowned app development firm. Recognizing that nearly every P2E game funds its own demise with its rewards systems, the MicroPets team has opted for an approach not yet seen in the space. Leveraging P2E as a marketing funnel, the team will draw in new users with free pets while leading them through the complete buying process as they work to acquire their first paid MicroPet.
How's this unique? First, the team will have a shop that's refreshed every 30 days that's powered by smart contracts. The shop will have 3D NFT's among other items players can claim in addition to a raffle ticket type system that enables smaller investors to still have fun and potentially earn as well!
The team will combine the best aspects of both Web 2.0 and Web 3.0, creating a rewards system that doesn't lead to excessive selling pressure while acting as a monthly draw for players to check out the refreshed shop!
Metaverse Expansion
The MicroPets team will be building its own metaverse expansion, named Petropolis, and is already working on telling the story of that vision using award-winning animation studio.
In Petropolis, MicroPets investors will be able to leverage their 3D NFT portfolio and land assets within a community-driven ecosystem and economy, all powered by the Petropolis token. Planned are six different land types, each with their own unique city, gathering & crafting resources, and more!
Upcoming Exchange Listings
Coinciding with the major upcoming releases for the MicroPets project and their upcoming P2E game are additional exchange listings. In fact, the MicroPets team has found a key partner that's guiding them on an "exchange blitz" that's designed to consistently move the project up the various exchange tiers, further driving visibility and awareness amongst several key markets, such as China.
Conclusion
The MicroPets team is poised for great success considering the recent changes to the rewards systems. The chart and resulting price action has spoken for itself thus far alongside the enthusiasm from the community. With everything else the team at MicroPets is working on, the future is bright and ripe with opportunity.
About MicroPets
MicroPets has taken the hottest memes in the crypto space, from Doge to Floki, and transformed them into loveable 3D NFT's. Users purchase MicroPets tokens on PancakeSwap, visit their custom-built dApp and then purchase a crate. Inside of the crate is a random 3D NFT, each with their own unique rarity and staking multiplier. The rarer the NFT the better the rewards. The team also has an upcoming Play-To-Earn (P2E) game in development by a renowned app development company, set for release this quarter. Thus far, the team has sold tens of thousands of 3D NFT's.
Social Links
Telegram: https://t.me/micropets
Twitter: https://twitter.com/micropetsbsc
Instagram: https://www.instagram.com/micropets.bsc/
Media Contact
Brand: MicroPets
Contact: Matthew Johnson, PR Director
Email: [email protected]
Website: https://www.micropets.io
SOURCE: MicroPets
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com
Questions About A Trader Who Turned $50 Into $8M Made BBC Pull Out Documentary
A documentary on a 20-year-old crypto trader who allegedly turned $50 into an $8 million fortune last year has been removed by the BBC. The Crypto Millionaire was the title of the documentary, which chronicled the narrative of Hanad Hassan, a Birmingham resident who claims to have made a return of around 16,000,000% in a year by trading unnamed crypto assets. The piece was supposed to air this week, and it would have explored how Hassan had begun to give back to the community as a result of his newfound wealth, but it was canceled after the Guardian revealed on Feb. 10 that it had expressed problems about the BBC’s research: “The Guardian asked the BBC if it was confident in his claimed financial returns and questioned why the program’s promotional material did not mention that Hassan’s cryptocurrency Orfano was abruptly shut down in October, with many unhappy investors claiming they were left out of pocket as a result.” The Guardian’s media editor Jim Waterson wrote, “The BBC swiftly said it had withdrawn the show but did not make any further comment on its editorial checks.” Hassan Had First Turned $50 Into $1M in Q1 2021 Hassan had first transformed $50 into $1 million in Q1 2021, according to a now-deleted promotional story for the program on the BBC’s website (that can still be viewed via web.archive.org), before going on to co-create his own ‘special cryptocurrency’ that distributes all of its proceeds to charity. The BBC did not disclose the details behind Hassan’s ‘net worth’ and how he generated the money between Q1 and Q4 2021, therefore it is unknown how he made the remaining $7 million of the estimated $8 million sums. Hasan’s ORFANO token, according to Coinmarketcap, was introduced on April 2, 2021, with a 6% tax on all transactions using the asset. A portion of the tax revenue earned by the token was allocated to a wallet address for charitable donations. The coin does not have a pricing history, but according to the BBC, OFRANO donated $200,000 to charity last year from its profits. According to posts from the r/Orfano community on the social media network Reddit, the project remained silent in September before shutting down in October, implying that ORFANO barely lasted five or six months. Several individuals on the subreddit claimed that the project was illegitimate, but this is a pretty regular claim made by community members whenever projects fail. Hassan and co-founder Ahmed wrote in a message to the community that was reposted on Reddit: “Things haven’t gone the way we had planned and after careful consideration, we have decided that we will [be] stopping the continuing of the project. The team has put in every effort to maintain and grow the token but we don’t see any progress and a way to bring Orfano x back to the good days.”
The post Questions About A Trader Who Turned $50 Into $8M Made BBC Pull Out Documentary appeared first on Cryptoknowmics-Crypto News and Media Platform.
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