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Heroes of Mavia Adapts Token Unlock Schedule to Address Supply Inflation
The popular mobile strategy game Heroes of Mavia has recently implemented changes to its token unlock schedule in an effort to counteract the inflation of its token supply. This decision comes less than three months after the initial launch of the Ethereum-based MAVIA token.
Following the announcement of this strategic adjustment late Thursday, the MAVIA token experienced a significant 21% surge in value, only to subsequently plummet even lower than its pre-announcement price. As of the time of writing, MAVIA is valued at $3.72, reflecting a decline of nearly 9% within the past day.
Having reached an all-time high price of $10.59 two months after its launch in early February, the MAVIA token has since undergone a sharp 65% decline in value. Originally, the game had intended to expand its circulating supply from 12% to 24% of the total supply between February 2024 and 2025. However, the recent adjustment will now maintain the circulating supply below 14% until the culmination of this period.
Until February 2025, the allocations for “private sale,” “gameplay rewards,” and “community & ecosystem” will be collectively reduced by 80%. Additionally, the allocations designated for the team and advisors will be deferred until the same deadline.
Following the publication of the blog post, the price of MAVIA exhibited an upward trajectory and surged by 10% within thirty minutes of the game broadcasting the news to its 457,000 followers on social media. Subsequently, holders of MAVIA tokens began offloading their holdings, triggering a rapid decline in price that persisted and deepened over subsequent hours, effectively erasing the initial gains.
Incorporating Blockchain Technology into Gameplay
Heroes of Mavia, available on iOS and Android devices, draws inspiration from the popular game Clash of Clans. Despite the issuance of a token, the airdrop of tokens to 100,000 players, and the prior sale of NFT land plots by Skrice Studios, the game’s incorporation of these elements into its gameplay remains minimal thus far.
The countdown to the Ruby Marketplace release starts now!
On May 5th, Mavia’s most anticipated update arrives.
New Skins, Color Schemes, Statues, Land Decorations and Consumables are going live as tradeable Legendary Items for RUBY. pic.twitter.com/3vmPlOeGQB
— Heroes of Mavia (@MaviaGame) April 5, 2024
Presently, players could easily engage with the game without discerning its underlying crypto features. However, forthcoming plans include the introduction of an in-game marketplace for acquiring and trading NFT items, facilitated by the Ethereum layer-2 scaling solution known as Base.
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