Tuesday, January 25, 2022

OVR and the Results of the Token Burning Program’s First Month – Sponsored Bitcoin News

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OVR launched its new Token Burning Program on 1 November to make its personal tokens extra uncommon and helpful. The outcomes of this primary month of November noticed a complete of 246 thousand OVR burned.

OVR and the Numbers From the Token Burning Program’s First Month

OVR’s up to date token economics began on November 1, 2021, after the OVR workforce burned practically 1 million of its tokens final May.

By the finish of final month, the platform had collected a complete of 615,365 OVR from its gross sales of OVRLand NFTs, excluding GAS prices.

As anticipated, the Token Burning Program foresees that 40% of the collected OVR are burned, whereas 10% is used to incentivize OVRLand gross sales with month-to-month attracts amongst new OVRLand consumers utilizing Chainlink VRF.

And certainly, for this month of November 2021, the whole tokens burned quantity to 246,146 OVR, whereas precisely 61,536 OVR have been devoted to the OVRLand draw on Chainlink.

In common, the extra OVRLands bought on Chainlink, the larger the chance of profitable the jackpot.

OVR and Its Updated Token Economics

In order to replace its token economics, OVR has resorted to sensible contract burning to make its personal OVR token scarcer and extra helpful.

To higher perceive the idea, it will be helpful to decrease the estimates for a second, by deciding that out of the 1.6 trillion OVRLands out there, solely the 100 million OVRLands that correspond to the factors of curiosity recorded on the Open Street Map are taken under consideration, every of which is assumed to be no bigger than 1 OVRLand.

That being the case, if the price of 1 OVRLand have been $10 and the value of OVR have been $1, the whole gross sales of the 100 million OVRLands would generate 1 billion OVR. Of this:

  • 400 million OVR can be burned;
  • 100 million OVR as a lottery prize for many who purchase OVRLand on Chainlink.

The Next-Level AR Metaverse and the Map2Earn

Recently, OVR additionally introduced the improvement of OVR Land Mapping. In essence, due to AI functionality, OVR is producing an in depth 3D map of the bodily world in a metaverse on one other degree, primarily based on easy photographs taken from the smartphones of its customers who’ve determined to take part in the Map-to-Earn.

In truth, OVR customers who be part of the initiative turn into actual OVRLand Scanners and can earn OVR tokens just by scanning bodily areas with the smartphone of their pocket.

This is a brand new approach of monetizing, much like the play-to-earn that Decentralized Finance or DeFi video games are providing their customers.

OVR Map2Earn is a revolutionary mapping system know-how that overcomes the accuracy limits of GPS, leading to newly scanned OVRLands having a location accuracy of as much as 10cm.

To be taught extra about the venture go to the web site, and comply with the workforce on social media.


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Image Credits: Shutterstock, Pixabay, Wiki Commons

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