$WOOT: Use cases and Utility
In the crypto space, there always seems to be the next significant token or a coin promising to be the next Bitcoin or Ethereum killer. Yet for all the promise and hype that inevitably surrounds the next Dog, Cat, or best Layer 1 project EVER!!! Once the fanfare dies away, what is left is usually a chart that has fallen off a cliff whilst the founders have moved on to their next project
One of the safest bets is a coin’s utility. A look at all the top 20 coins shows that they all have one thing in common; utility. When Satoshi Nakomoto launched Bitcoin more than a decade ago, he (assuming it was a ‘he’) created a unique kind of utility that has survived many other tokens which have fallen by the wayside. Look at the top 10 cryptocurrencies by market cap from just a few short years ago and it’s immediately apparent that few of them have survived. With fierce competition and an ever evolving landscape, it can be hard to create a token that might withstand the ravages of time.
Virtual currencies are grounded in technology and ideas that were shaped even before Nakamoto, but BTC was, and still is, a one-of-a-kind digital currency in the way it has proven so pervasive in modern digital culture. However, Bitcoin does have drawbacks and it’s utility (although growing with Layers 2s) isn’t boundless. Enter Ethereum and the explosion of Layer 0s, 1s and even Layer 2s. Cryptocurrencies really erupted after 2017, and this new age is pushing the boundaries of finance with DeFi, NFTs and also worldwide logistics and supply chain.
All this building has led us to what we believe is the natural next step in the internet, a bold new digital reality in the form of the Metaverse. And I’m not referring to Meta and Mark Zuckerberg's vision, I’m meaning the boundless, free forming multiplatform, multifaceted Metaverse that will become the building blocks for a new internet that doesn’t force the average person to roll loaded dice, rather it is shaped from the ground up for the people.
We don’t want to compare ourselves to Bitcoin or claim to be an Ethereum killer but we are building and shaping our small part of the next frontier of the internet and our token, $WOOT, will be powering this. So we like to think it will carve out its own unique space in the ever-expanding Metaverse marketplace.
But what is the use case for $WOOT, and why is it so important in the development of Mallconomy?
$WOOT: A Metaverse Utility Token
$WOOT is the native token of the Mallconomy ecosystem, meaning that all transactions to be done on this new metaverse will be done in $WOOT. Players, creators and builders alike will be rewarded and transact in $WOOT within the Mallconomy Metaverse.
The $WOOT may sound like a random word but it is steeped in meaning and highlights the very best of everything that Mallconomy represents.
Work — Merit is the order of the day at Mallconomy. We believe a little hard work is a good thing, but that work should be rewarded.
Own — True ownership via NFTs will allow our store and even item owners to build their brand or business safe in the knowledge that the things they buy belong to them, for as long as they want them to.
Operate — Whether it’s as a store owner, renter or worker, the Mallconomy ecosystem encourages people to learn Metaverse skills to operate efficiently and profitably in this new, creator economy.
Transfer — Of course, where would we be without the opportunity to trade. Transfer of goods and services is the beating heart of the $WOOT ecosystem!
We made sure that Mallconomy was built with this in mind, so unlike most other Metaverse experiences, users can do any of these four things whilst they are in the Mallverse. A user might decide to Work for another user, Own a shop or experience themselves, operate the logistics of the Mallverse or become central to the transferring of goods and services.
Uses of $WOOT
The token can be used to:
● Trade:
In the metaverse, people need money. Like in real life, people need to shop for groceries or luxury and everyday items, pay rent and buy assets. In Mallconomy, all this is going to happen with $WOOT.
Just imagine the sheer number of people who shop at a virtual mall daily. Now multiply that by 364 days of the year, 24 hours a day, and you’ll begin to understand the potential that lies at the core of $WOOT. More utility means more transactions and more $WOOT tokens are being spent.
● Play:
Mallconomy is essentially a game where users play to earn rewards. In our game, users do real-life things like shop and trade. So, the $WOOT token can be used to play arcade games within the mall, dress up avatars with different custom wearables and play other in-game games, which all require currency. The currency to be used for all these activities is the $WOOT token.
● Governance:
Owners of the $WOOT token will play a pivotal role in the governance of the Mallverse. They will be able to vote on issues raised, contribute to the growth of our metaverse bank (MallBank) and stake their $WOOT tokens to earn some sweet, sweet rewards. The MallBank is the primary financial institution of our mall, and $WOOT holders will be able to have a say as to how this institution is shaped.
What’s Next
Whilst the $WOOT token is not yet available for presale or private sale, you can join our Discord channel and stay tuned for the latest updates — there’s also loads of fun to be had with regular giveaways, games and general chit chat. We are building a community that thrives together and there’s never been a better time to join!
Although we do not currently have an exact date for the public mint of our native token, the very best place to keep up to speed on this, as we develop the product further, is in our chat channels.
Head over to our app and build the future together!
Community APP: https://bounty.mallconomy.com/
Website: https://mallconomy.com/
Community: https://go.mallconomy.com/bio
