What is Ownly?
OWNLY (OWN) is a metaverse-focused platform that aims to empower creators and collectors to optimize ownership and utility through innovative applications of non-fungible tokens (NFTs) with over three years of experience in the blockchain and NFT industry. OWNLY is designed as a hub for artists, gamers, and collectors in the crypto and NFT space.
The OWN token is the native utility token of the OWNLY platform, which enables users to purchase, sell, own, collect, and trade NFTs in the Ownly Market. OWN is also the medium of exchange for staking, governance, and purchasing NFT art and gaming assets within the Ownly Ecosystem.
During the private sale of OWN tokens, OWNLY was able to raise $40,000, which the team has used to launch and sell amazing NFT collections in collaboration with talented artists. As a profitable venture, a portion of OWNLY's revenue is set aside to buy back OWN tokens and burn them on a quarterly basis, starting from September 2021.
The OWN token was launched on Binance Smart Chain on July 27, 2021, with an initial total supply of 10 billion OWN tokens. Of the initial total supply, 20% of the tokens were distributed to private sale participants. A minimal amount was allocated for sale to avoid any sudden fall in the price of OWN in the market.
5% of the tokens were allocated for marketing and community airdrops, while 21.83% were set aside for community development and staking programs. The majority of the tokens were allocated for OWN Initial DEX Offering at 26.6667%.
OWNLY has ensured the security of OWN tokens by allocating 20% of the tokens for a two-year lock-up period in the team and advisors' wallet. Another 5% of the tokens are allocated as a reserve fund and locked for five years for contingency.
In summary, OWNLY (OWN) is a promising metaverse-focused platform that has the potential to attract a wide range of users in the blockchain and NFT industry. With its innovative applications of NFTs and the utility of the OWN token, OWNLY could become a major player in the fast-evolving world of the metaverse.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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