mobile strategy game Mavia’s Heroes has reworked its token unlock schedule to slow supply growth less than three months after the Ethereum-based token was first launched.
Following the announcement late Thursday, the MAVIA token soared 21% before falling well below where it was before the news broke. MAVIA has fallen nearly 9% over the past day to $3.72 as of this writing.
Tokens in Heroes of Mavia are now 65% drop from all-time high The price is $10.59, which was set two months ago right after its launch in early February. The game’s original plan was to increase circulating supply from 12% to 24% of the total between February 2024 and 2025. However, this latest move will keep the circulating supply below 14% until the end of the period.
Allocations for ‘private sales’, ‘gameplay rewards’, and ‘community and ecosystem’ planned until February 2025 will be cut by 80% overall. Additionally, team and advisor assignments will also be postponed until the same date.
MAVIA’s price began rising shortly after the blog post was published, soaring 10% in half a year after the gamer tweeted the news to his 457,000 followers. MAVIA holders then began dumping their tokens, with the price plummeting and then continuing to escalate for several hours, seemingly erasing their initial gains.
Heroes of Mavia is an iOS and Android game inspired by Clash of Clans. Skrice Studios, creators of Heroes of Mavia, have launched tokens, airdropped them to 100,000 players, and previously sold NFT land plots, but so far none of this has translated into gameplay.
Nowadays it would be very easy to play a game without knowing it is a cryptocurrency game. However, there are plans to soon launch an in-game marketplace where NFT items can be purchased and traded using the Ethereum Layer 2 scaling network. Base.
Editor: Andrew Hayward
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