The game project, cultivated by Merit Circle, published its tokenomics:
Total token supply – 10B.
Main utility of the token:
- Purchases in the in-game store for cosmetic items (of various rarity levels, character upgrades, etc.)
- Purchasing tickets for tournaments. One of the main token sinks (value funnels), as there will be a large number of gaming tournaments – this can create significant deflationary pressure on the token.
- Loot boxes – a mechanic that makes huge money for web2 developers, as the boxes contain various rare items that can be sold in the same marketplace in the future.
Tokens will be distributed as follows:
25% – advisors and contributors 25% – early-stage investors 30% – reserves allocated for the community 20% – game fund reserve
The game fund will be unlocked over 4 years monthly.
The community fund (30%) will be distributed as follows:
- 3% of the total token volume (300M tokens) will be unlocked at TGE
- 27% of the total token volume (2.7B tokens) will be unlocked over 24 months monthly
Early-stage investors (25%):
- 2.5% of the total token volume (250M tokens) will be unlocked at TGE
- 22.5% of the total token volume (2250M tokens) will be locked for the first three months, then unlocked over 18 months.
Advisors and contributors (25%):
Locked for the first 6 months, then distributed monthly over 24 months.
The initial starting volume of tokens will be 550M.
Tokenomics article announcement:
TGE will be on the Ape Terminal platform on February 21.
The platform will raise $250K, the token price will be $0.004, with a total of 1000 winning tickets. You can buy for 250 USDC.
Detailed conditions with the timing of the TGE in the article/announcement:
Project website: https://forgottenplayland.com/
Twitter: https://twitter.com/ForgotPlayland
Forgotten Playland previously raised $7M from Merit Circle, Spartan Group, Bitscale Capital, C2 Ventures & Paper Ventures, and other VCs.