With the Mystic Pepper NFT sale in its final stretch and available for minting, Pepper Attack is getting ready to introduce the community to MYTE. This is the ERC-20 token gamers can earn when they acquire one or more Mythic Pepper character NFTs. Let’s dive deeper into the tokenomics and see how the play-to-earn mechanics hold up.
Before we go deeper into the actual gameplay mechanics, let’s first talk about the distribution of the MYTE token. MYTE is an ERC-20 token on the Ethereum blockchain, and it has a total supply of 3 billion tokens. This supply gets split between the Community Treasury, Investor Treasury, Developer Treasury, the Pepper Guild and the Mythical World. What’s interesting is that three out of those five buckets represents something the community benefits from. Let’s look at those five categories:
- Mythical World (30%) – Here players use their Mystic Pepper NFTs to mine MYTE
- Pepper Guild (30%) – Play-to-earn rewards for quests and events. Players add to the Pepper Guild by buying items and services. (40% locked at launch, with 20% unlocking every 6 months)
- Community Treasury (15%) – Rewards for contest and events
- Investors Treasury (15%) – Direct sales to public and private investors
- Developer Treasury (10%) – Rewards for the development team (2-year lock period)
That means that a stunning 75% of the MYTE circulation goes directly into the community. What is interesting is that the Pepper Guild functions a bit like a DAO. It’s an organization that creates community incentives, buys MYTE back from the market when it’s needed, and support social initiatives and charity organizations.
Mint Mystic Peppers Now to Mine MYTE!
The Mythical World is one of the interesting elements of Pepper Attack where users can put their Mystic Peppers to work. The Mystic Pepper NFTs that users can now mint on the official website can be used to mine MYTE from the Mythical World. This mining system is really meant as the initial distribution phase of MYTE. The developers will distribute the tokens in 5 different phases. When a Mystic Pepper is still mining when a level depletes, it automatically moves to the next level.
During the early mining stages of the project the system will distribute more MYTE tokens to the Mystic Peppers. As time passes, the distribution will drop. The idea here is that the price of MYTE sort of compensates this. At first MYTE will be cheaper, while the price should potentially increase at the token gets more utility.
Players can earn MYTE through in-game activities, receiving MYTE provided by the Pepper Guild. They can then sell MYTE on the open market or use the token to acquire in-game items. Other players can in turn acquire MYTE from the market, and use than to buy items, paid events and memberships. The Pepper Guild will be in the middle of this all, distributing in-game rewards or acquiring MYTE from the open market.
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