REVV Motorsport Shares Utility & Tokenomics for the SHRD Token
In the latest blog post, REVV Motorsport has discussed the use cases of its SHRD token. Pronounced as “shard,” the token is a cross-blockchain fungible token that will have multiple use cases.
Along with the REVV token, SHRD will be used in the wider economic model. Mainly, SHRD will enhance players’ gameplay or experience depending on how the player acquired it.
The post explains that even though REVV is the core token of the ecosystem, SHRD will be the “earn” token. REVV will be used to buy items or gain entry to in-game events.
What Will SHRD Token be Used for?
The SHRD token can be used to earn rewards and for the car fusion system. As per the official post, the Fusion System in REVV Racing is one of the main utilities of the token. Apart from this, SHRD can be used in MotoGP Ignition and will be usable in the track ecosystem.
- Fusion System
This allows players to fuse their owned car with another car or other NFT assets. As some exclusive events need certain fusioned cars, SHRD will have high utility in REVV Racing.
- MotoGP Ignition
SHRD is supported in the MotoGP Ignition games and collectible experience. Players can collect Hot Shot NFTs, NFTs, and other assets. Further, as there is a SHRD token bridge between Polygon and Flow, players can transfer their rewards from one chain to another.
- Track NFTs and REVV Motorsport Ecosystem
The REVV Motorsport tracks are now playable across multiple games REVV International Circuit and Joey Logano Grand Prix are playable, and track owners can earn SHRD rewards on them.
How to Earn SHRD
Players can earn Shard rewards by driving. In addition to this, SHRD rewards are also given out based on the rarity of the cars and REVV fee.
Here’s how players can earn SHRD through REVV Racing:
- Based on Distance Driven: Players can earn SHRD directly by playing. For each mile driven, Shard tokens are rewarded (the number of miles per lap on a track are fixed). However, this doesn’t include driving aimlessly.
- SHRD Bundles: At the end of an event, players are rewarded with a “bundle.” Based on their rank in the event, they will receive SHRD rewards (in addition to the SHRD earned during play).
- Car Rarity: The rarity of the car will determine the size of the base rewards. For instance, the Apex cars will have the highest base rate for rewards.
The monthly amount of SHRD that a player will receive depends on the total amount of SHRD that a player has earned.
“For example, if Player A has earned 1,000 SHRD, and Player B 100 SHRD, and the supply for the month allows for 100 SHRD per-player average, Player B would not receive 100% of their pending rewards. Instead, Player A would receive 100 SHRD, while Player B receives 10 SHRD,” the post explains.
Further, the monthly rewards will also be affected by factors such as:
- Total sessions played: Each and every paid session played by the player is taken into account (doesn’t include Practice or Test Centre)
- Recent activity: This refers to the REVV Racing sessions played by a player in that month. If no sessions were played in the month, no payouts will be made.
Cars owned: The number of cars a player has will also influence the SHRD rewards.
How Will SHRD Be Issued?
The SHRD supply is controlled with a monthly mint cycle as the supply is not capped. Further, SHRD tokens will be burned, so the supply will fluctuate according to availability.
Initially, 30,000,000 SHRD will be minted. Out of this genesis mint, 25,000,000 will be used for liquidity, 3,000,000 SHRD will be used to pay rewards, and the remaining 2,000,000 will be kept aside for boosting liquidity or be used for second minting.
On DEX, SHRD will be paired with REVV to seed liquidity. This pairing will be set at 5:1 (that is, 5 SHRD tokens per REVV).
What Is REVV Motorsport?
Developed by Animoca Brands, REVV Motorsports is a collection of Play-and-Earn racing games. Currently, the collection has REVV Racing, MotoGP Ignition, and Formula E: High Voltage.
Out of these, REVV Racing is a car racing game, MotoGP is about motorcycle racing, and Formula E is focused on the management aspect of racing.
On the Flipside
- To earn the maximum possible SHRD, players will have to invest in rarer car NFTs. This might increase the cost of entry into the REVV ecosystem.
Why You Should Care
- The SHRD token will increase earning opportunities in the REVV ecosystem. As the REVV titles are Play-and-Earn games, they have impressive graphics and put more emphasis on the gameplay.
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Read more: https://dailycoin.com/revv-motorsport-shares-utility-tokenomics-for-the-shrd-token/
Text source: DailyCoin.com
