News Report Technology
January 03, 2024

Metaverse Gaming Platform Ultiverse Introduces $ULTC Token with Detailed Whitepaper

In Brief

Ultiverse released the Ultiverse Whitepaper and introduced $ULTC governance token for the Ultiverse ecosystem.

Metaverse Gaming Platform Ultiverse Introduces Whitepaper and $ULTC Token

Metaverse gaming platform Ultiverse announced the release of Ultiverse Whitepaper, providing a comprehensive overview of its artificial intelligence (AI)-driven gaming universe that combines virtual reality (VR) and non-fungible tokens (NFTs).

In conjunction with the release, the platform introduced the $ULTC governance token for the Ultiverse ecosystem, revealing plans for an 8% airdrop to Electric Sheep NFT, SOUL holders and ecosystem asset holders.

The remaining ULTC tokens will be distributed as outlined: 30% will be used within the Ultiverse ecosystem, 20% will be allocated to investors, 17% will be designated for the team, 15% will be allocated to the community and 7% of tokens will be used for initial exchange liquidity.

ULTC serves as the exclusive governance token within the Ultiverse ecosystem, playing key roles such as being the primary transaction currency used by Micro Worlds to incentivize integrated decentralized applications (DApps) by Ultiverse.

Holders of ULTC possess governance rights, allowing active participation in decision-making processes. Token holders can engage in voting processes that influence the distribution of ULTC acquired by Ultiverse from Micro Worlds. ULTC serves as the means for players to acquire game assets from Micro Worlds.

Ultiverse is social gaming metaverse that aims to link Web3 to an immersive, fully VR-compatible virtual world, giving rise to a MetaFi experience.

Additionally, Ultiverse is actively engaged in linking blockchain applications with virtual environments, utilizing tokens to encourage various activities and foster community development within its ecosystem. It  initiated its Alpha release in June 2022, raising investments from venture capital firms such as Three Arrows Capital, and SkyVision Capital.

In 2022, the company raised $4.5 million at a $50 million valuation in a seed round co-led by Binance Labs and Singapore’s DeFiance Capital. The funds were allocated to product development, talent acquisition and community growth within the BNB Smart Chain ecosystem.

With its recent Whitepaper release and introduction of the $ULTC governance token, Ultiverse marks another step in establishing itself as a leading metaverse gaming platform.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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