Published on: 12/01/2023
Web3 gaming platform MEMAG kicks off presale for native token $MEMAG
Meta Masters Guild (MEMAG) has kicked off a presale for its brand-new native token, $MEMAG, in its mission to offer the world’s first single-currency Web3 mobile gaming platform.
In the first stage of the presale, $MEMAGs are available at $0.007 per token. The price will get progressively higher as it proceeds to the following stages, with the final one being Stage 7 and one token costing $ 0.023.
MEMAG’s total supply is one billion tokens, but it has allocated 35 percent of the supply for the presale. Once the presale has ended, MEMAG will list $MEMAG on various crypto exchanges for a significantly higher price.
MEMAG will keep 15 percent of the token supply for the platform’s development, 10 percent for a reserve and 10 percent for the team. Players must compete for the rest of the tokens by participating in MEMAG’s play-and-earn ecosystem.
To acquire $MEMAGs, users need to have crypto wallets. At the moment, users can only use Ether (ETH) to purchase the tokens. Investors purchasing the tokens during presale can only claim them once the presale period ends.
According to MEMAG, it is more interested in developing a play-and-earn gaming ecosystem rather than the more common play-to-earn model.
In a play-and-earn ecosystem, developers emphasize gaming more for enjoyment than earning rewards.
The Web3 platform argued that in the P2E model, players could quickly lose interest. There is a pump-and-dump phenomenon among P2E gaming platforms because players are quick to move to other games after cashing in their rewards.
Meanwhile, the play-and-earn model introduces original games with addictive features, meaning that players will be motivated to engage with these games for an extended period. Players can also earn more reward tokens called gems by playing the games for a certain duration.
Unlike $MEMAGs, Gems have no real value outside of the ecosystem. However, players can convert Gems into $MEMAGs and exchange them for other more popular crypto tokens, like ETH. Players also get the option to reinvest Gems back into the game by purchasing in-game NFTs.
The platform also allows players to put their purchased assets into staking, which enables them to generate a passive income. Moreover, MEMAG rewards high-ranked players and will routinely host giveaways, increasing players’ chances to win $MEMAG and NFTs. MEMAG imposes a five percent royalty fee for every NFT purchase and a three percent fee for token trading.
The Web3 platform aims to establish long-term partnerships with esports teams and content creators to promote games within its ecosystem.
Games on MEMAG
Raid NFT, Meta Kart Racers and Meta Masters World are some of the games that will be available on MEMAG upon launch, with more titles to come.
Raid NFT is a mobile game where players assume the role of a warrior and fight enemies in a tough environment. It is a game where players fight each other in an arena and complete various challenges to earn Gems. They can collect special items to boost their skills, which increases their winning chances.
Meanwhile, in Meta Kart Racers — which is still in its early phase — players must compete against each other while trying to escape the in-game overlords. In this game, players obtain Gems by upgrading characters and locating collectibles.
Meta Masters World is still in the concept phase. The game will allow players to explore the metaverse, where they have full autonomy. Players collect items in the game and compete with others here.