MAGE Token, Key to the Metaverse

5 min readDec 13, 2021

One Token — Unlimited Portals

Throughout history merchants, sailors, and navigators searched far and wide for valuable treasures to bring back to their kingdom and bask in the glory of their successful expeditions. Not without great risk, magnificent and one-of-a-kind treasures were found and often sold or traded at town auction houses, but there was always one treasure that stuck out from the rest — one piece of history that unraveled deep, powerful, and mysterious emotions deep within those who came near its presence…

A chest containing what appeared to be filled to the brim with magical tokens, crafted delicately by hand, embedded with an light emanating crystal — almost as if it had its own life pulse, marked the shape of a unique and distinguishable M character.

A New Power Discovered…

Gain instant exposure to the top-performing play-to-earn games, metaverse-based environments, and player owned-economies with MAGE tokens.

Imagine the ease of tracking just one token and managing one asset in comparison with scrambling to keep up with dozens of projects that are launching on a weekly basis — downloading multiple wallets, a notebook full of seed phrases, multiple Discords and Telegrams, and signing up on new exchanges.

MAGE token represents the total value and performance of the MetaBrands Metaverse Resource DAO through all of its acquired assets, yield generating activities, project incubation, and strategic value generated with the community.

MAGE is the ERC-20 governance and utility token for the MetaBrands ecosystem. The one who wields this magical token has direct power and permission in the DAO, as well as the ability to craft powerful relics, possessing the ability to warp to countless portals within the Metaverse.

The MAGE token can be acquired through the monthly Airdrops, liquidity mining, public markets, and additional community initiatives.

Key Benefits & Use Cases

Gradual Rising Floor

A gradual rising floor for MAGE Utility Tokens is created through as a result of the Yield Program. Once assets are sold and base costs are restored in the treasury, the remaining amount is used to purchase MAGE tokens from public markets. On top of this, ten percent is also permanently burned. These mechanisms were put in place to create a gradual rising floor, decreasing supply and increasing demand for the token.

NFT Minting

Sacrifice MAGE tokens in order to claim your “Multi-Pass to the Metaverse”, by burning MAGE tokens you can craft a MAGE Relic NFT that unlocks powerful benefits not only limited to the MetaBrands ecosystem. In order to mint these NFTs, an individual needs to burn MAGE tokens through the official NFT Minting Portal on the MetaBrands website. This means that once these tokens burned, they are removed from circulation and they can never be sold against the liquidity pool. These MAGE Relics are a key element within MetaBrands and are rapidly evolving, becoming more powerful as more use cases and integrations are solidified.

Payments

Use the MAGE token as a form of universal payment for any type of exchange that an individual or group desires, in accordance with local and legal regulations. Once paired to an AMM (Automated Market Maker) like Uniswap, people will be able to purchase the MAGE token as a form of digital cryptocurrency and use it as payment, based on the current valuation of the AMM. Holders of MAGE tokens can then go to Uniswap or another supported exchanges to swap their MAGE token for another cryptocurrency or asset. MAGE will launch as an ERC-20 Token on Ethereum, but will also include bridges to other blockchain ecosystems for easier accessibility, as well as reduced fees.

Governance

Participate in the DAO with MAGE tokens by voting, creating proposals, and challenging proposals. By acquiring MAGE tokens, anyone has the right to cast their vote(s) in the DAO. One vote is equivalent to one MAGE token, though owners of MAGE Relic NFTs are granted bonuses. MAGE token and relic owners are the collective minds and the driving force of Metabrands. Learn more about the DAO and governance here.

Liquidity Mining (Staking, Farming)

Anyone can stake MAGE tokens or Liquidity Pool tokens to earn additional rewards in MAGE Tokens. By supporting a sustainable tokenomics model and healthy market, users are incentivized and rewarded for locking their MAGE tokens in a decentralized manner via smart contracts. MetaBrands will be rewarding early adopters and liquidity providers through the staking/farming portal. In order to start liquidity mining or farming, acquire MAGE tokens and pair them with an equivalent value in ETH, in the official Uniswap liquidity pool, to start farming and earning MAGE Tokens.

Whitelisting

Win a chance to participate in MetaBrands Ventures, where the owner of a MAGE Relic has rights to contribute to approved presales and early rounds with new project launches, approved by the MetaBrands Ventures Committee. Additionally, for those who only hold MAGE tokens, you can stake 1,000 MAGE tokens for a chance to participate in early stage investment opportunities through MetaBrands Ventures. MAGE Relic owners will share 95% of allocations, while whitelisted individual can get a share of the remaining 5%.

Discounts

Exchange MAGE tokens for assets from the MetaBrands Treasury at a discounted rate from the standard market price.

Let’s say that MetaBrands acquires a new NFT at an early stage for 10 ETH and the NFT is now valued at 100 ETH — the DAO then decides it’s time to liquidate this NFT and put it up for sale. If the current floor is 100 ETH, potential collectors will have the option to purchase this NFT directly from the MetaBrands Treasury for 90 ETH worth of MAGE tokens. As the portfolio of the treasury expands, more opportunities are created for potential investors to market buy MAGE tokens just to acquire the NFT they want at a discounted price.

As people, games, and ecosystems begin to adopt MAGE tokens, this also increases the probability for a higher wallet distribution and a higher level of decentralization, making it harder for one specific individual to gather the needed token at their desired price in order to craft a MAGE Relic.