Along with the expansion of Metaverse adoption, comes GameFi. GameFi is a decentralized application that offers incentives to its users that makes its system effectively function. It also takes on the characteristics of decentralized finance or DeFi. Moreover, SuperCars will be the newest addition to the Metaverse GameFi collection.
The SuperCars’ CarDAO
In the Metaverse, users or players have changed their ways of playing, entertainment, creativity, social gathering, professionalism, and employment. This is a result of technological advancements. In line with this, SuperCars plans to create a CarDAO ecosystem that will merge automobile enthusiast communication and entertainment. The ecosystem will have a number of categories with a specific concentration but they will all be related. Some of these categories will be the Supercar Club, Arena PVE, Arena PVP, Club League Tournament, Car Rental, LP Staking Pool, CarDAO Construction, and NFT Trading.
The idea of Supercars is to give players control over the game and re-establish the developer-player relationship. The pioneered Global Founder concept overcomes the problem of unequal distribution of industry advantages using CarDAO governance as the foundation. CarDAO members will mint all initial tokens to preserve the rights and interests of future participants. Moreover, a decentralized institution will issue the first tokens.
The system will document the equity credentials on the blockchain using smart contracts starting with minting and ending with income and profit-sharing. The Supercars developers stated that in their platform, the “founders are players, and players become founders”.
Meanwhile, all Supercars vehicles are NFT crypto assets that can be verified on the blockchain.
The CAR Token
The Supercars platform’s single token is CAR. It will also be CarDAO’s only equity credential. Developers plan that the total volume of CARs to be 300,000,000 units. The CarDAO organization’s self-governance will hold on to the concept that the centralized organization has no right to issue and determine the initial circulation of CARs.
Each vehicle in SuperCars will be an NFT asset. Moreover, the player’s assets in the game will belong to the players. Asset tokenization will directly provide value to the player’s vehicles. Moreover, players may choose to exchange and transfer these tokens. Not only that, they may also, tie them to dividend rights, governance rights, and decision-making rights.
Each CAR NFT will have its indivisible characteristics based on decentralization. This means that unique cars or NFT assets can effectively carry their corresponding consensus and market value. It will also indicate that the NFT’s properties provide scarcity, and no one can tamper, copy, replace, and increase the player’s vehicle at will.
Furthermore, anyone will be able to join the CarDAO. This will help collectively mint CAR’s initial circulation token. Following that, CarDAO members will mine all of the CARs that the network will make in the Supercars application in the future. It will be using PLAY-TO-EARN and CREATE-TO-EARN consensus.
