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OVR launched its new Token Burning Program on 1 November <\/b>to make its own tokens more rare and valuable. The results of this first month of November saw a total of 246 thousand OVR burned. <\/b><\/strong><\/p>\n OVR and the Numbers From the Token Burning Program\u2019s First Month<\/strong><\/p>\n OVR\u2019s updated token economics<\/a> started on November 1, 2021, after the OVR team burned nearly 1 million of its tokens last May.<\/p>\n By the end of last month, the platform had collected a total of 615,365 OVR from its sales of OVRLand NFTs,<\/b> excluding GAS costs.<\/p>\n As anticipated, the Token Burning Program foresees that 40% of the collected OVR are burned, while 10% is used to incentivize<\/b> OVRLand sales with monthly draws among new OVRLand buyers using Chainlink VRF<\/b>.<\/p>\n And indeed, for this month of November 2021, the total tokens burned amount to 246,146 OVR<\/b>, while exactly 61,536 OVR<\/b> have been dedicated to the OVRLand draw on Chainlink<\/b>.<\/p>\n In general, the more OVRLands purchased on Chainlink, the higher the probability of winning the jackpot.<\/p>\n OVR and Its Updated Token Economics<\/strong><\/p>\n In order to update its token economics, OVR has resorted to smart contract<\/b><\/a> burning<\/b> to make its own OVR token scarcer and more valuable<\/b>.<\/p>\n To better understand the concept, it would be useful to lower the estimates for a moment, by deciding that out of the 1.6 trillion OVRLands available, only the 100 million OVRLands<\/b> that correspond to the points of interest recorded on the Open Street Map are taken into account, each of which is assumed to be no larger than 1 OVRLand.<\/p>\n That being the case, if the cost of 1 OVRLand were $10 and the price of OVR were $1<\/b>, the total sales of the 100 million OVRLands would generate 1 billion OVR<\/b>. Of this:<\/p>\n The Next-Level AR Metaverse and the Map2Earn<\/strong><\/p>\n Recently, OVR also announced<\/a> the development of OVR Land Mapping<\/b>. In essence, thanks to AI capability, OVR is generating a detailed 3D map of the physical world in a metaverse on another level<\/b>, based on simple images taken from the smartphones of its users who have decided to participate in the Map-to-Earn<\/b>.<\/p>\n In fact, OVR users who join the initiative become real OVRLand Scanners <\/b>and can earn OVR tokens simply by scanning physical locations with the smartphone in their pocket.<\/p>\n This is a new way of monetizing<\/b>, similar to the play-to-earn that Decentralized Finance or DeFi games are offering their users.<\/p>\n OVR Map2Earn is a revolutionary mapping system technology<\/b> that overcomes the accuracy limits of GPS, resulting in newly scanned OVRLands having a location accuracy of up to 10cm.<\/p>\n To learn more about the project visit the website<\/a>, and follow the team on social media.<\/p>\n This is a sponsored post. Learn how to reach our audience here<\/a>. Read disclaimer below.<\/em><\/small><\/p>\n\n
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