What is MEVerse (MEV)?
MEVerse offers an abundance of visually stimulating content that can be watched, experienced, and enjoyed due to its Layer-1 MEVerse mainnet technology. Users can join in activities for pleasure as well as to generate values for which they will be adequately compensated.
MEVerse is able to create and offer a range of blockchain-based services in various sectors, including entertainment, finance, and healthcare, with a highly efficient MApp-compatible protocol. MApps offer entertainment-related services with extra capabilities like P2E (Play-to-Earn), NFTs (Non-Fungible Tokens) to verify ownership, DeFi, and P2P transactions to improve functionality for users. The combination of blockchain technology and Metaverse in MApps ensures a wide selection of content and services, a problem-free operating space without network delays, and the autonomy of each MApp in line with its distinct policy parameters. Furthermore, the user-friendly chain of the platform provides low transaction fees, helping to reduce the cost for MApp providers and users.
Besides, the platform has created a novel consensus model, Proof-of-Formulation (PoF), which is an alternative to the existing PoW (verifying computational tasks) and PoS (verifying stake) models, avoiding the possibility of unnecessary forking. PoF blocks are produced in a predetermined order, which allows for faster block generation and propagation since the range of blocks is minimized. Observer Nodes in the consensus have the right to enable instant authentication.
The MEV token is the native utility and governance token of the platform. On the live chart above, you can find the current MEVerse price.
MEV Use Cases
For starters, MEV coins are used to access the services in the MEVerse ecosystem. Users need to own and pay for entertainment before gaining access to content on the platform. Besides, creators get paid in MEV crypto tokens for providing their services.
Also, MEV is the main means of payment within the network. Purchasing avatars, land, spaces, and wearables in the MEVerse can be done using MEV. These avatars could be used to participate in P2E games, attend concerts and events, and they generally serve as the metaverse representation of the user. Additionally, MEV tokens can be used to buy certain upgrades for avatars.
Moreover, the MEV token grants access to decentralized financial services within the MEVerse. Users who wish to carry out P2P transactions must own and use MEV tokens for those transactions.
Finally, to serve as Node operators and validators for the MEVerse platform, users must hold and stake MEV tokens. Rewards for services rendered are paid for in MEV tokens as well. You can check the current value of these rewards by seeing the live MEVerse price chart above. It features the most up-to-date MEV price.
Who Founded MEVerse?
Henry Hong and Kyle Son are the founders of MEVerse.
Henry has extensive knowledge of finance and tax management along with being a cryptocurrency investor. Prior to joining MEVerseLabs, he served as an asset manager for VIP clients at Hanwha Life Insurance, Korea's leading life insurance provider, for seven years. His interest in cryptocurrency in 2015 motivated him to become a co-founder of MEVerseLabs in order to create a blockchain platform that crypto investors could trust in and enable project developers to build and operate their projects in a secure manner.
Kyle is the chairman and founder of ME2ON, ME2ZEN, and MEVerse. He graduated from Seoul National University with a degree in Naval Architecture and Ocean Engineering. Before starting MEVerse with Henry, he worked at Nexon and FreeChal in administrative positions.
MEV Tokenomics
The maximum supply of MEV tokens is pegged at 2 billion MEV tokens. Out of this number, 30% was aside for public sale, 15% for ecosystem building, 15% for the reserve fund, and 13% for the founders and the team. Moreover, 10% was geared toward marketing efforts while 10% was reserved for advisors and partners of the project. Finally, all early-stage contributors were rewarded from a pool of 7% of the tokens available.
The fixed supply will help to keep the tokens more scarce, which might result in an increase in the MEV price in the long run.
