There’s a new GameFi token in town but this one isn’t anchored to a specific game or project. QWAN aims to become a universal cryptocurrency for the gaming industry with adoption by a broad range of ecosystem players, from developers to communities. There are hopes that the QWAN ecosystem can ultimately expand to include a host of major players, allowing its eponymous token to become the industry’s favored gaming token.
It Starts With CEX
QWAN’s debut into the world of crypto will commence on May 31 when the token lists on a string of CEXs including MEXC, AscendEX, and BTSE. Set to go live with a listing price of $0.15, demand for QWAN is expected to grow as it onboards more partners and sees its token integrated into web3 games.
The token supports a range of use cases that underpin web3 and GameFi projects, starting with decentralized governance. It provides a way for communities to signal support for certain initiatives, and to vote on upgrades and new features in a democratic and transparent manner.
In addition, QWAN can be used as a general utility token within games, allowing it to be issued as a reward for completing certain achievements. Players can also use QWAN as currency for trading items on in-game marketplaces and purchasing upgrades. There’s the potential for the token to also be used to incentivize teams and reward specific milestones.
Launching With a Bang
To demonstrate QWAN in action, the token will launch with major ecosystem partners already onboard. Chief among these is Banger, the popular gaming platform and marketplace. It will be the first to integrate the QWAN token and support the vision of The QWAN Foundation.
“We are thrilled for Banger to integrate The QWAN as its key gaming token and offer our gamers the opportunity to enhance their gaming experience,” said Banger CEO Borja Villalobos. “With QWAN, our offering becomes very unique in the market and allows us to provide gamers with an experience that can't be found elsewhere.”
It’s not just gaming platforms that have thrown their weight behind QWAN either. Horizen Labs Ventures (HLV), the prominent web3 advisory and solutions provider, helped provide guidance on the QWAN launch. Having worked with respected GameFi brands such as Yuga Labs, The Sandbox, and Animoca Brands, HLV is a heavy hitter in the space.
According to HLV Founding Member Rohan Handa, “We are excited about QWAN and its potential to positively impact and shape game economies, powering new utilities and a community-led governance that can appeal to existing web2 gamers.”
Distribution of the QWAN token, including allocation to projects that share its vision, will be determined by the QWAN DAO. Its decentralized governance framework will dictate ecosystem funding.
Any third party platform or game is free to integrate QWAN and make it a part of their project. The token’s unique open design will allow developers to utilize it however they see fit. This should fuel innovative use cases and novel ways for players to earn and spend QWAN in-game.
QWAN’s ultimate goal of becoming a universal gaming token for web3 will take time to manifest. In the meantime, observers will be watching closely to see how the GameFi industry reacts to QWAN – and how it decides to use it.
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2023-05-30 14:24:16
