What is GMT Token?
GMT is an infrastructure project for Bitcoin mining. The project's main objective is to provide simple and clear access to Bitcoin mining for participants with all levels of experience, from beginners to professionals. The company has its own data centers and replenishing computing devices for mining. GMT offers two key products: the GMT token and a collection of unique NFTs.
The platform is powered by the GMT token, which connects professional equipment and end users. You can view the GMT token price on the live chart above. Each token is backed by the computing power of 0001TH/s via the SHA-256 protocol. The tokens are issued through smart contracts on Ethereum and Binance Smart Chain (BSC).
The Greedy Machines NFT collection is the project’s second product. These NFTs are images of digital miners that differ from each other in power, efficiency, and many other external attributes. Each NFT on the platform is backed by the real computing power of the project’s devices. The Greedy Machines follows Ethereum’s ERC-721 token standard.
The Greedy Machines mine Bitcoins just as real miners do. The NFT collection has an overall computing power of 138245.12 TH/s. There are a total of 3,150 NFTs. Each NFT belongs to a series that reflects the amount of computing power it possesses. The NFT classes are XS, S, M, L, XL, 2XL, 3XL, and 4XL.
Miners receive rewards in two ways, depending on the game mode they choose. The first mode is Solo mining, where users hold NFTs and receive daily rewards in BTC. The second option is Pool mining, where users play the game with a pool and earn rewards in BTC when they win the game.
Besides, GMT offers a first-class service that helps miners manage their devices after purchasing NFTs. Their service helps users fix any problem faster and cheaper than other contractors in the crypto space. Also, the project offers an attractive discount on electricity and maintenance for NFT holders. The discount can go up to 14%.
Use Cases of GMT Tokens
For starters, GMT crypto assets are used to mine BTC. Besides that, the tokens can be used to mine the Greedy Machines, pay for the project's internal services, and purchase the company's merch.
Planning yo buy GMT tokens? Make sure to analyze the GMT price chart above beforehand. It features the main trends in the GMT price.
Who Founded GMT?
GMT was created by GoMining Company. GoMining is a professional company founded in 2017. The company created the project to bypass the technical complexity of mining, making mining accessible to everyone.
In 2022, GMT become the 30th member of the Bitcoin Mining Council (BMC) along with other key players in the field such as Hive, Argo, Core Scientific, and Galaxy digital.
Tokenomics of GMT
GMT coin was launched with a maximum supply of 10 billion tokens. Due to the constant connection of new equipment, the supply capacity of the token always increases. Besides, a portion of new token emissions is redistributed proportionally among the NFT owners.
However, the project also employs a token-burning mechanism, where a certain portion of the new emissions is burnt. Token burning reduces the number of circulating tokens in the ecosystem, which translates to an increase in the GMT price.
