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MYRTLE, the first Fan Token on WEMIX PLAY, surpassed the $100 million USD market value just one day after its issuance.
On January 27th, it was mined by the famous Philippines actress/blockchain game streamer Myrtle Sarrosa on the worldwide no. 1 blockchain gaming platform WEMIX PLAY, with an initial price of 1WEMIX$ and a market cap of 1000WEMIX$.
It was trading at 13.6 WEMIX$ on February 1st, with a market size of 109 million WEMIX$.
Fan Token is a revolutionary blockchain-based mechanism for fans to fund creators. A performance-based tokenomics ties creators’ popularity with the growth in the value of their tokens, and both creators and fans gain as a consequence.
Users may purchase and keep Fan Token in order to support their favorite creators. And creators will be able to control their own Fan Tokens, which will be generated via a high-water mark mechanism. They can sell it, distribute it to fans through airdrop, or utilize it for a variety of activities such as fan meetups and direct help to communities.
Unlike traditional tokenomics, which automatically mints new tokens on a regular basis, the high-water mark approach mints new tokens only when its 24-hour average price exceeds the preceding average price.
WEMIX will continue to work with other creators to create the digital economic fan community ecosystem based on Fan Tokens.