Metaverse Pax.world Steps up Economic Development With Launch of Utility Token $PAXW
The award-winning metaverse pax.world announced the launch of its utility token $PAXW – a native token used to expand its rapidly developing ecosystem.
pax.world is a 3D world offering immersive, life-like experiences, including highly detailed business centres where real-life organizations can hold events, meetings, and AMAs. It will also feature educational centres for an interactive learning experience, and NFT galleries, displaying and auctioning the works of real-life artists.
The metaverse will also feature inspired designs from world-class architecture firms such as Grimshaw, which pax.world commissioned to create one of four ‘metaserais’ – central gathering places for its citizens of pax.world.
The utility token $PAXW, which runs on the carbon-neutral Polygon (MATIC) blockchain, will power the experience of pax.world citizens – rewarding them for in-world achievements, creating engaging content, and helping to build and support the larger pax.world community.
Holders of the token will also be able to vote to determine the future direction of pax.world. In addition, the token will also allow citizens to vote on the allocation of content rewards and resources owned by the pax.world DAO (Decentralized Autonomous Organization).
$PAXW can be used to buy land and pay for in-world services. Furthermore, the token will be the primary medium of exchange in the pax.world marketplace for both virtual and real-world products and services.
In-world commercial activities that will utilise $PAXW include:
- Virtual business headquarters and customer support offices
- Venues and arenas for concerts and live performances
- Advertising in virtual spaces
- Educational establishments
- Purchasing NFTs from art galleries
$PAXW tokens will also be used in staking, which is a way for pax.world community members to support the project and enhance their experience by gaining access to exclusive rewards, including limited edition NFTs and a VIP program of talks and events. Staking also boosts the rewards pax.world citizens receive for their achievements, including visiting locations, completing assignments, creating content, and community engagement.
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In addition to $PAXW rewards, achievements can unlock new UI functionalities and transport privileges.
Metaverse users can also obtain in-world privileges and functionalities much faster by paying or staking $PAXW. Additionally, $PAXW can be earned by participating in in-world events, interacting with the metaverse, consuming content from others, and producing experiences for others.