The Meta Masters Guild ecosystem continues its expansion following its successful presale. The fastest-growing mobile-based play-to-earn guild continues to grow into its roadmap as it sets its pieces on the chessboard to become the largest mobile gaming guild in Web3.
Since its presale, Meta Masters Guild has listed its token on a handful of new exchanges, launched its staking feature, started its token-burning mechanism, and relaunched its NFT store.
Meta Masters Guild Relaunches NFT Store Ahead of Game Release
One of the latest developments in the MEMAG ecosystem is the relaunch of its NFT store, allowing players to purchase NFTs to be used in its gaming ecosystem.
In addition, Meta Masters Guild is creating a series of fun and addictive games that allows players to equip themselves with playable NFTs and earn tokens as rewards, stake, and trade.
The platform had a successful presale, in which it managed to raise $4.97 million, and now it’s continuing to expand on its ecosystem by relaunching the NFT store.
The NFT store offers a limited supply of NFTs that are playable in-game, providing players with a competitive advantage to come out with a victory. The store was also recently upgraded as the team improved the user experience, allowing them time to introduce more NFT rarity classes.
The NFT store now features new Meta Kart Racers Gold and Platinum standard NFTs, allowing users to purchase the playable NFTs that can be used in the lite version of the game – scheduled to be released at some point in July 2023.
Besides being able to be used inside the game itself, the best part about the NFTs is that they are fully upgradeable, meaning each NFTs base level stats can be increased by playing the game as a player improves their skills. The NFTs use the ERC 721 standard, allowing the NFT metadata to upgrade as a player continues to play the game.
The rarity of the NFTs will determine their base level stats, with the Platinum NFTs costing more but starting with a higher level of stats. In the Meta Kart Racers game, the NFTs are for both players and characters. The stats for characters include strength, agility, defense, range, and attacks.
The stats for the Karts include acceleration, top speed, steering, braking, and strength. All of these individual stats can be improved through the game to increase the player’s capability and make them more competitive.
Users hoping to buy these NFTs can pay using ETH or MEMAG tokens. There’s also a discount code live, providing buyers with 20% off their purchase valid until May 18, 2023 – the code name is MEMAG20.
Token Staking and Burning Features Set to Bring About Liquidity Squeeze?
In addition to the NFT store relaunch, Meta Masters Guild recently introduced its token staking and burning mechanisms, which might cause a shortage of tokens to purchase on the open market.
The staking feature was introduced mid-March, allowing MEMAG holders to lock their native tokens away in exchange for a high APY.
Currently, there are three staking pools for stakers to choose from, with one providing substantially higher gains for a short period of time.
The higher APY pool provides an incredible APY of 75% and is designed to be an introduction to staking for users.
However, this high APY pool will only be available until the end of April, meaning you need to act quickly to earn rewards from the pool.
The other two staking pools are designed to be more sustainable, providing an APY of 15% for a 90-day lockup and 7.5% for a 30-day lockup. So far, a total of $364,432 worth of MEMAG has been staked on the platform.
Announcement #MEMAGFAM! 📣— Meta Masters Guild (@MEMAGgames) April 3, 2023
We have just completed Phase 1 of our Token Burn plan, burning an initial 50M tokens!🔥
In total we are burning 150M tokens, 75M from the Ecosystem and 75M from the Marketplace
Reducing overall supply and lowering the fully diluted market cap📈
In addition to the staking mechanism, Meta Masters Guild also recently introduced its token-burning feature.
The burning began at the start of April, and it’s designed to give back to the MEMAG community by removing MEMAG from the circulating supply and making the remaining tokens much rarer.
The team has announced that they plan to burn 150 million tokens during the burning period, intending to burn 50 million tokens every fortnight until the 150 million MEMAG are removed.
The tokens being burnt are taken from the tokens previously reserved for Ecosystem Growth and Marketplace development.
So far, the Meta Masters Guild team has burned $650,000 worth of MEMAG tokens. Combining the token burn with the staking mechanism has analysts believing that a token shortage might be incoming as more tokens are staked and burnt.
What’s Coming Next?
There’s so much to look forward to in the MEMAG ecosystem. Besides the release of the first Meta Masters Guild P2E game, Meta Kart Racers – expected in July 2023 – the ecosystem is anticipating the launch of a marketplace in Q3, allowing all players to sell their NFTs to other players.
By the time the marketplace launches, players will have had time to improve the stats on their NFTs, allowing them to sell them at higher prices.
Furthermore, Meta Masters Guild also intends to introduce an NFT staking platform in Q4 2023, allowing all NFT owners to earn a yield by renting out their NFTs to other players to play with.
Overall, Meta Masters Guild is well on the way to becoming the biggest P2E ecosystem in 2023 and the largest mobile-based gaming guild in Web3.