What is WHALE?
WHALE is the first NFT-backed social token. To be more precise, WHALE tokens are backed by an exclusive NFT collection kept in The WHALE Vault (a publicly audited collection on OpenSea). The NFTs kept in The Vault are used to give the token a base of intrinsic value. As a result, WHALE sits in a kind of nexus between stablecoins and traditional cryptocurrencies. This is the case because its value does fluctuate but, at the same time, it's pegged to the value of another asset. You can check the current WHALE price on the Whale price chart featured above.
Who Founded WHALE?
The WHALE crypto project was created in May 2020. The founder of the project goes under the pseudonym of WhaleShark. He has been an enthusiastic NFT collector since 2019. He used his collection of exclusive NFTs to back the WHALE token.
Initially, WhaleShark was the only person responsible for curating the NFTs in The Vault, which made the project centralized. Thus, after the launch, the WHALE project was transitioned to a decentralized autonomous organization (DAO). Now, the WHALE community is responsible for deciding which collectibles should be bought, sold, and rented.
Use Cases of WHALE Tokens
There are various benefits that WHALE token holders receive. First of all, if you’re a holder of the WHALE coin, you can have access to various games, membership channels, and airdrops. These airdrops can be either NFT airdrops or airdrops holding the native WHALE crypto token.
Secondly, WHALE tokens can be used to buy or rent exclusive NFTs from The Vault, as well as acquire physical or digital WHALE crypto merchandise.
Besides that, WHALE tokens can be used for liquidity mining in order to generate rewards.
Lastly, as WHALE is governed by a DAO, holders of the tokens have the right to participate in the decision-making processes of the project.
Don't forget to take a look at the WHALE price chart. It features both – the current and the previous WHALE price.
Tokenomics of WHALE
The max supply of WHALE coins is 10 million. Almost half of the supply (42.6%) was dedicated to the community. The remaining portion was sold during a private sale, distributed between the founding team, and set aside in the WHALE Foundation.
