Let’s dive into the details of our upcoming $AWOO token from the Awoo Studios ecosystem. We’ll also go over it’s first utility: Super PxlChips.
What is $AWOO
$AWOO is the token that fuels the entire Awoo Studios ecosystem. It’s a virtual token that was created with the idea to further develop utility for our current collections: Fang Gang and PxlFangs.
Some theoretical use cases for $AWOO could be upgrading your NFTs, mint upcoming collections, use in-game, buy physical items or get access to events.
How to use $AWOO
You will be able to access your $AWOO tokens in New Fang City, our upcoming Web3 hub. Here you can take a trip to the Bank where you can see your current balance, how much you’re accruing per day, and withdraw $AWOO as an ERC-20 token to your wallet.
To spend $AWOO within our ecosystem there will be no need to claim it, saving you costly gas fees. The token will accrue and be available within each holder’s New Fang City wallet.
Spending the token within our ecosystem means you are using it to buy certain items available for purchase throughout New Fang City.
If you wish to transfer $AWOO to another wallet, you can choose to withdraw it as an ERC-20 token. You’ll have to re-deposit it into your New Fang City wallet in case you want to use it.
Please keep in mind $AWOO is not a security and should never be seen as such — it was created to be used solely within the Awoo Studios ecosystem. It will not be purchasable in any platform related to Awoo Studios and we won’t provide a secondary marketplace for it.
Earning $AWOO
The first iteration of our $AWOO ecosystem will allow you to earn by holding Fangsters and PxlFangsters. All accrued $AWOO is tied directly to the NFT that’s earning it. Meaning if you sell an NFT without having spent or claimed the $AWOO it has accrued, the accrued tokens will transfer with the NFT to the new owner.
You will be able to see exactly how much each Fangster or PxlFangster in your collection has accrued so far and thus how much you can claim.
Earnings per day for holding are as follows:
- 1000 $AWOO per Fangster
- 500 $AWOO per Super PxlFangster
- 250 $AWOO per PxlFangster
Down the road we’ll consider adding staking and playing to earn $AWOO.
Spending $AWOO
While you can claim $AWOO to move from an NFT you hold to your balance, you can also directly spend it without having to pay gas to claim it. It will optimize the flow making you only pay gas for 1 transaction for claiming and immediately spending the amount needed for the purchase.
When spending any amount of $AWOO, 90% of it will be burned and 10% will be put into the New Fang City treasury.
The first item purchasable with $AWOO is the ‘Super PxlChip’. This will be used to upgrade the visual appearance of PxlFangs into Super PxlFangs. It’s a cosmetic metadata update as the traits on your NFT will remain the same.
We chose to update the current NFT as opposed to creating a new one so that the upgrade will directly reflect the new visuals in any platform that PxlFangs are used on, like our Worldwide Webb mechas seen below.
There will be a market cap of 8.888 Super PxlChips available. When you purchase this item you have a choice between 2 options:
- Purchase the item and apply it to a PxlFangster of your choice right away.
- Purchase the item without applying it but instead mint the item as an ERC-1155 token, after which it will be added to your wallet.
The starting price of a single Super PxlChip item will be 40,000 $AWOO.
We are thrilled to launch this first iteration of $AWOO. Complete with accruing tokens by holding, claiming them at will and being able to manage and spend your $AWOO tokens in our very own Web3 hub: New Fang City.
