UTILITY OF METALIFE™ TOKENS (MLT)
Last updated
Last updated
MetaLife's vision is to build a diversified and heterogeneous social network platform to encourage engagement, interaction and promote knowledge sharing between different identities, values, organizations, roles, and devices in the metaverse. To achieve its goal, the platform’s token economy must sustain the natural circulation of platform value through various ecosystems in order to activate the vitality and effectiveness of the entire social ecosystem.
MetaLife ecosystem may consist of the following roles: Normal users, content creators, MetaLife platform and ecosystem partners (games, music, art exhibitions, metaverse VR/AR, etc.).
The main stored value circulating in the MetaLife ecosystem is the MetaLife token (MLT). All participants are not only producers of social value, but also consumers of social value. The following are some potential income and expenditure opportunities for each participant during social interaction in the ecosystem:
Earn Token: Every user who registers on the platform DID, participates in pledge mining, participates in play to earn activities organized by third-party projects, and provides personal resources and data can earn MLT income. In the initial stage of the platform development, user can earn tokens by simply performing the following activities:
Daily Mission Reward (1 MLT per accomplished task) - daily login, 5 “Likes” a day, 1 post a day (post-to-earn), 2 comments a day, Join 1 pub, Invite a friend to the social network
Achiever Reward
· Good Friend – The invited friend has joined 3 pubs and posted 5 public messages (10 MLT)
· Good Content – Publish posts that received 10 likes each from 3 different pubs (10 MLT)
· Good Governing – Report a malicious post and be rewarded as a good citizen if governing DAO voted in favor (100 MLT)
Spend Token: User can consume MLT when tipping content creators, purchasing NFTs created content creators, and participating in paid entertainment activities.
Earn Token: Creators may charge a fee (one-off of subscription) for access to content (songs, videos, books, webtoons etc.) created by them; creators may receive tipping from readers or followers; creators can tokenize their content into NFT for sale; other participants may participate in such creator economy through staking or providing promotion services to the projects.
Spend Token: a small part of the creator’s income may be shared with the platform for providing services to reach the vast audiences; income may also be shared with influencers and participants who help promote or provide inspiration and ideas towards the creation.
Earn Token: To ensure smooth operation, the platform may conduct Pub auctions from time to time; receives transaction fee for NFT transactions; share content creators income of content creators, and other self-funded projects like DeFi and DEx etc.
Spend Token: In order to encourage sign-on and engagement in the platform, airdrops and other incentives like Daily Mission Reward Achiever Reward are offered to users in the initial stage; sustain and maintain the operation MetaLife chain; purchases of software and hardware to provide better User experience, etc.
Earn Token: Ecosystem partners’ DApp deployed on the platform can earn revenue based on its own business model, such as: attracting gamers to participate in the game and sell game equipment, organize online or offline concerts to sell tickets (NFT), create live channels to sell products, and hold art exhibitions to sell NFTs.
Spend Token: a portion of the organizer’s income may be shared with the platform for providing technical support and services for the project; in addition, part of the proceeds may be shared with participants and groups who have contributed to the promotion of the project.
To illustrate the use case of MetaLife platform – Alice is an ordinary user, Bob is a content creator, MetaLife is the platform, and Jack is the creator of the game DApp.
Alice registered a DID identity on the platform and obtained 40MLT incentives from MetaLife. At the same time, Alice is also actively participating in the play-to-earn activity on the Jack’s game and has accumulating 100 MLTs from it. Alice liked Bob's article and rewarded him with 20MLT, and has a balance of 120MLT. Bob creates an article and receives a reward of 400 MLT; he mints an NFT from the article and sell it for 1000MLT, he then pays 25MLT to the platform as transaction fee, and shares 100 MLT to influencers for marketing service, A total of 1200MLT was earned; MetaLife platform collected 100,000 MLT through the MFT exchange, paid 20,000MLT for incentives, paid 30,000 MLT for technical operation and maintenance and resource expenses, and saved a total of 50,000 MLT; Jack sold 100,000 MLT of equipment income to game players, and divided the platform into 5000 MLT for promotion. The partner paid 15000MLT, a total of 80,000MLT was saved. The MLT saved by the above-mentioned parties will continue to circulate and pour into more social interaction scenarios to circulate and build an ever-growing ecological field of social value in the meta-universe.
