What is VIMworld (VEED)?
VEED is the native token of VIMworld, which is an NFT ecosystem that aims to integrate digital art, IoT, and blockchain technology into one platform.VIMworld is building a next-generation platform for smart NFT collections. The collectibles in these collections are called VIM, which stands for Virtually Integrated Metadata.
Check out the VIMworld price chart above to see the current and the previous VEED price.
VIMworld is built on the VeChainThor blockchain. Within VIMworld, you can collect VIMs and interact with them on the WIMworld ecosystem. Each VIM is a special and unique non-fungible asset, which cannot be copied. Besides, VIMs can "grow", meaning that they can be upgraded. As you experience more things in the VIMworld, your VIM becomes more "mature". This growth opens doors to various opportunities for you as the owner of the VIM. You can use VIMs to participate in various games and challenges and explore the VIMworld overall.
Who Founded VIMworld?
VIMworld was launched in 2020 by The 8 Hours Foundation, which is an organization building platforms for people to connect on the blockchain. These platforms aim to have real-life use cases, apart from the various activities that can be performed virtually. The 8 Hours Foundation was founded by John Dempsey. He founded this organization because of his love and passion for games. In collaboration with Lila Xu, they co-founded VIMworld.
Use Cases of VEED Tokens
VEED token is the native utility token of the VIMworld. It's used for various operations and payments on the platform. For instance, VEED is used in the VIM market, which is an NFT marketplace that allows users to buy and exchange VIMs.
Moreover, VEED is a governance token. This means that VEED holders have the right to participate in decision-making processes considering the VIMworld crypto project.
Besides that, VEED tokens can be used as food for VIMs. Though feeding VIMs could essentially be viewed as staking, since all VEED coins eaten by VIMs can be extracted at any time. However, in order to upgrade your VIM, you need to feed them. The more upgrades you make, the more rewards and discounts you'll get.
Additionally, in the future, game developers who will utilize VIMworld for developing their games will be able to use the VEED token as an in-game currency.
Tokenomics of VEED
The max supply of VEED tokens is 100 billion. To make the VEED price more stable, every VIM minted on the platform results in the burning of a certain amount of VEED. Besides that, some of the VEED tokens charged as gas and transaction fees are burnt as well. You can check out the current VEED price on its price chart above.
