Token Utility
Detailed explanation of Numi Shards utility
Nümi Shards, the native cryptocurrency of the Nümi Ecosystem, plays a critical role in the Marketplace, providing users with a seamless and efficient method for transacting within the ecosystem. This section of the whitepaper will explore the various use cases of Nümi Shards within the Marketplace and how users can interact with the system. Basically, we can draw an overview diagram of how token flows of our project:
Also, we can list all token utility channels in the table:
| Channel | Description |
|---|---|
| Initial NFT sales | 25% of the proceeds from initial sales will be made available for withdrawal each month, acting like a vesting schedule. After a 4-month period, all profits from the previous month's sales will be transferred to the Numi Treasury. These funds will be used to support the development and expansion of the ecosystem, ensuring its continuous growth and improvement. |
| Initial Real estate sales | 25% of the proceeds from initial sales will be made available for withdrawal each month, acting like a vesting schedule. After a 4-month period, all profits from the previous month's sales will be transferred to the Numi Treasury. These funds will be used to support the development and expansion of the ecosystem, ensuring its continuous growth and improvement. |
| Marketplace Fees | 5% fee collected from every sale. 50% of the fee proceeds contribute to the sustainability and growth of the Nümi Ecosystem, and 50% allocated to Stakers Rewards to incentivize token holders. |
| Crowdfunding Fees | 2.5% fee collected from each payout to creators. 50% of the fee proceeds support the maintenance and development of the Nümi Ecosystem, and 50% allocated to Stakers Rewards to incentivize token holders. |
| Staking | Users stake Nümi Shards to receive in-game bonuses, advantages within the Nümiverse, and token rewards for staking. Although this is not a direct revenue stream, the locked tokens contribute to the stability of the Nümi Shards economy by reducing the potential impact of market fluctuations and incentivizing user engagement. |
Token Utility in the NFT Marketplace
Nümi Shards serves as the primary currency for buying and selling digital assets, such as art, collectibles, and virtual goods, in the NFT Marketplace. Users can utilize Nümi Shards to purchase both Exclusive and Limited Items, while creators can monetize their content by selling their creations for Nümi Shards.
Marketplace Transaction Flow
When users buy or sell NFT assets in the Marketplace, a 5% fee is collected from every sale. This fee is allocated to the Nümi Ecosystem as a platform fee, ensuring its sustainability and continuous growth. In addition to the platform fee, creators may also set a royalty fee for their NFT assets, with a maximum cap of 10%. This royalty fee is an optional, separate charge paid to the creator whenever their NFT is resold, incentivizing them to produce high-quality content. By keeping the royalty fees competitive and attractive to users, creators can encourage more transactions and foster a dynamic NFT marketplace.
Users are motivated to buy NFTs due to their in-game utility and the potential advantages they provide. NFTs can offer in-game bonuses, enhancing the player's experience and increasing their chances of success within the game. Additionally, NFTs can serve as cosmetic items, allowing players to personalize and showcase their unique style within the virtual world. The combination of in-game utility, bonuses, and cosmetic appeal makes NFTs a valuable and sought-after asset for users in the Nümi Ecosystem.
NFT purchase for Numi Shards
Let's take a look how purchase process may looks like. As we said before, Numi shards is a primary currency of our ecosystem, and all purchases are made using this currency. We can illustrate how this process is working using this diagram:
NFT purchase using other tokens (even non-Venom tokens)
Also, to increase adoption and usability of our marketplace, users will be able to use other tokens to make purchases. Even they will be brought from an EVM like chains, that doesn't matter, because we will have a system that will hiddenly bridge and swap them, so in the end user will have a sufficient amount of Numi Shards on his wallet. In this case, purchases may be made in this way:
Token Utility in Crowdfunding
Nümi Shards also play a vital role in the crowdfunding platform, allowing users to support and invest in promising projects and content. When a crowdfunding project reaches its funding goal, a 2.5% fee is collected from the total funds raised. This fee contributes to the maintenance and development of the Nümi Ecosystem, ensuring its continuous growth and improvement.
The following diagram illustrates a simplified flow of Numi tokens within a crowdfunding project. While the actual flow is more complex and may allow creators to receive Numi tokens before full completion of their project, the diagram has been simplified for easier understanding. In this visual representation, investors invest their tokens into a project, and in return, they receive NFTs or a share of the project's revenue as a reward. This streamlined diagram helps users grasp the basic concept of how Numi tokens flow in the crowdfunding process, contributing to the growth and success of projects within the Nümi Ecosystem.
Staking and In-game Bonuses
Users can stake their Nümi Shards to receive various in-game bonuses, advantages within the Nümiverse, and token rewards. By staking their tokens, users demonstrate their commitment to the ecosystem and are rewarded with perks that enhance their gaming experience, as well as additional Nümi Shards. Examples of in-game bonuses and rewards that can be obtained through staking include:
- Experience points increase: Boosting the rate at which players earn experience points, allowing them to level up faster and unlock new content.
- Item drop-rates increase: Increasing the chances of obtaining rare and valuable items during gameplay, making it more rewarding and exciting for players.
- Participation in drop campaigns: Gaining access to exclusive drop campaigns, where users have the opportunity to obtain limited edition items, NFTs, and other rewards.
- In-game money drop increase: Enhancing the amount of in-game currency earned during gameplay, enabling users to purchase more non-NFT items and upgrades.
- Token rewards: Earning additional Nümi Shards as a reward for staking, further incentivizing user engagement and commitment to the ecosystem.
The staking mechanism also contributes to the stability of the Nümi Shards economy. As a portion of the token supply is locked through staking, it reduces the potential impact of market fluctuations, ensuring a more stable and robust ecosystem.
Token Utility In Games
In addition to the previously mentioned token utilities, Nümi Shards can also be utilized within the games themselves. This adds another layer of interaction and value for users within the Nümi Ecosystem. Some examples of in-game token utility include:
- Purchasing rare items: Users can spend their Nümi Shards to acquire rare and exclusive items within the game, further enhancing their gameplay experience.
- Buying apartments and lands: Players can use Nümi Shards to buy virtual apartments and lands, allowing them to own and customize their personal space within the metaverse.
- Interacting with the Metaverse Map: Nümi Shards can be used as a form of currency for buying and selling virtual real estate on the Metaverse Map. This feature allows users to invest in and manage properties within the Nümiverse, facilitating the growth of their virtual assets and creating new opportunities for user engagement.
By incorporating Nümi Shards into the games as a form of currency, users can fully immerse themselves in the Nümi Ecosystem, enjoying a seamless experience that connects the virtual world with the token economy. This integration of the token into various aspects of gameplay encourages user engagement and adds value to the Nümi Shards, promoting a thriving and interconnected ecosystem.
Numi Treasury
The Nümi Treasury is a dedicated storage system designed to accumulate and manage all the fees collected from the Nümi Ecosystem's various activities, including the 5% fee from NFT Marketplace transactions and the 2.5% fee from funded crowdfunding projects. The Treasury ensures that the collected fees are used effectively to improve the sustainability of the Nümi Shards token and the overall Nümi project.
To enhance the sustainability and growth of the Nümi Ecosystem, the Treasury could implement the following strategies:
Token Burns: A portion of the collected fees can be used to subsequently burn them. This process reduces the token supply, creating upward pressure on the token's value and rewarding token holders.
Liquidity Provision: The Treasury can allocate a part of the fees to provide liquidity for Nümi Shards trading pairs on decentralized exchanges. This additional liquidity would improve the token's stability and make it easier for users to buy and sell the token.
Creator Support: Fees and investments in the crowdfunding platform enable creators to secure funding for their projects, encouraging more content creation within the ecosystem.
Community Rewards and Incentives: The Treasury can distribute a portion of the fees to reward and incentivize active community members, content creators, and developers. This could be done through various mechanisms such as contests, airdrops, or grants, fostering a more engaged and motivated community.
Ecosystem Development: The collected fees can be invested in research and development, improving the Nümi Ecosystem's infrastructure, and facilitating partnerships and collaborations. This investment would contribute to the long-term growth and success of the project.
Staking Rewards: The Treasury can allocate a portion of the fees to fund staking rewards for users who stake their Nümi Shards. This would encourage more users to stake their tokens, promoting stability and commitment within the ecosystem.
Conclusion
Nümi Shards offer a versatile and powerful utility within the Nümi Ecosystem Marketplace, enabling users to interact with the platform, transact with ease, and support their favorite content creators and projects. The integration of Nümi Shards in the Marketplace, alongside the carefully designed transaction flow, fees, and staking mechanism, ensures a robust and sustainable economy that benefits all users and creators within the Nümi Ecosystem.