Metaverse Gaming Platform Ultiverse Introduces $ULTC Token with Detailed Whitepaper
In Brief
Ultiverse released the Ultiverse Whitepaper and introduced $ULTC governance token for the Ultiverse ecosystem.
Metaverse gaming platform Ultiverse announced the release of Ultiverse Whitepaper, providing a comprehensive overview of its artificial intelligence (AI)-driven gaming universe that combines virtual reality (VR) and non-fungible tokens (NFTs).
In conjunction with the release, the platform introduced the $ULTC governance token for the Ultiverse ecosystem, revealing plans for an 8% airdrop to Electric Sheep NFT, SOUL holders and ecosystem asset holders.
The remaining ULTC tokens will be distributed as outlined: 30% will be used within the Ultiverse ecosystem, 20% will be allocated to investors, 17% will be designated for the team, 15% will be allocated to the community and 7% of tokens will be used for initial exchange liquidity.
ULTC serves as the exclusive governance token within the Ultiverse ecosystem, playing key roles such as being the primary transaction currency used by Micro Worlds to incentivize integrated decentralized applications (DApps) by Ultiverse.
Holders of ULTC possess governance rights, allowing active participation in decision-making processes. Token holders can engage in voting processes that influence the distribution of ULTC acquired by Ultiverse from Micro Worlds. ULTC serves as the means for players to acquire game assets from Micro Worlds.
Ultiverse is social gaming metaverse that aims to link Web3 to an immersive, fully VR-compatible virtual world, giving rise to a MetaFi experience.
Additionally, Ultiverse is actively engaged in linking blockchain applications with virtual environments, utilizing tokens to encourage various activities and foster community development within its ecosystem. It initiated its Alpha release in June 2022, raising investments from venture capital firms such as Three Arrows Capital, and SkyVision Capital.
In 2022, the company raised $4.5 million at a $50 million valuation in a seed round co-led by Binance Labs and Singapore’s DeFiance Capital. The funds were allocated to product development, talent acquisition and community growth within the BNB Smart Chain ecosystem.
With its recent Whitepaper release and introduction of the $ULTC governance token, Ultiverse marks another step in establishing itself as a leading metaverse gaming platform.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
