Mobile strategy game Heroes of Mavia has made changes to its token unlock schedule in an effort to curb the rapid inflation of its Ethereum-based token.
Mobile strategy game Heroes of Mavia has made changes to its token unlock schedule in an effort to curb the rapid inflation of its Ethereum-based token. The adjustment comes less than three months after the token's initial launch. Following the announcement, the MAVIA token experienced a sudden 21% surge before plummeting even further than its pre-announcement levels. MAVIA is currently trading at $3.81, up 2.77% over the past week.
The token's price has now dropped by 64.5% from its all-time high of $10.71, which was reached on February 19, 2024, shortly after the game's early February release. Initially, Heroes of Mavia had planned to increase the circulating supply from 12% to 24% of the total between February 2024 and 2025. However, the recent adjustment will keep the circulating supply below 14% until the end of that timeframe.
To achieve this, the game's "private sale," "gameplay rewards," and "community & ecosystem" allocations will be reduced by 80% until February 2025. Additionally, the team and advisor allocations will be postponed until the same date.
Skrice Studios, the creator of Heroes of Mavia, has developed the game for iOS and Android. Despite launching a token, distributing it through airdrops to 100,000 players, and selling NFT land plots, these features have yet to be integrated into the gameplay itself. However, plans are in motion to introduce an in-game marketplace that will enable the purchase and trading of NFT items using the Ethereum layer-2 scaling network Base.
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