Metaverse Gaming Platform Ultiverse Launches $ULTC Token with Detailed White Paper
Posted: January 3, 2024 10:56 AM Updated: January 3, 2024 10:56 AM
Correction and fact check date: January 3, 2024, 10:56 AM
briefly
Ultiverse released the Ultiverse White Paper and introduced the $ULTC governance token for the Ultiverse ecosystem.
Metaverse gaming platform Ultiverse has announced the release of the Ultiverse White Paper, which provides a comprehensive overview of the world of artificial intelligence (AI)-powered gaming combining virtual reality (VR) and non-fungible tokens (NFTs).
At launch, the platform introduced the $ULTC governance token for the Ultiverse ecosystem, unveiling an 8% airdrop plan to Electric Sheep NFT, SOUL holders and ecosystem asset holders.
The remaining ULTC tokens will be distributed as described. 30% is used within the Ultiverse ecosystem, 20% is allocated to investors, 17% is allocated to the team, 15% is allocated to the community, and 7% is tokens. Used for initial exchange liquidity.
ULTC serves as the exclusive governance token within the Ultiverse ecosystem and plays a key role as the primary transaction currency used by Micro Worlds to promote integrated decentralized applications (DApps) on Ultiverse.
ULTC holders have governance rights and can actively participate in the decision-making process. Token holders can participate in a voting process that affects the distribution of ULTC acquired by Ultiverse in Micro Worlds. ULTC serves as a means for players to acquire game assets in Micro Worlds.
Ultiverse is a social gaming metaverse that aims to deliver the MetaFi experience by connecting Web3 to immersive VR-compatible virtual worlds.
Ultiverse is also actively involved in connecting blockchain applications with virtual environments and leveraging tokens to incentivize various activities and foster community development within the ecosystem. It began its alpha release in June 2022 and has attracted investment from venture capital firms such as Three Arrows Capital and SkyVision Capital.
In 2022, the company raised $4.5 million at a valuation of $50 million in a seed round co-led by Binance Labs and Singapore’s DeFiance Capital. Funds have been allocated to product development, talent acquisition, and community growth within the BNB Smart Chain ecosystem.
With the recent release of the whitepaper and introduction of the $ULTC governance token, Ultiverse has taken another step in establishing itself as the leading metaverse gaming platform.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
more articles