Fortnite-like Battle Royale Shooter OpenSeason Burns $350,000 Worth of Tokens
OpenSeason, a battle royale shooter similar to Fortnite, recently hosted a 12-hour competition offering players a chance to win a share of $350,000 worth of tokens. However, instead of distributing the Ethereum-based tokens as promised, the developers decided to burn them. According to Fractional Uprising Studios, the team behind OpenSeason, this token purge is part of a larger effort to improve the token’s health and create some excitement within the community.
During the recent Mega Jeet competition, 909 gamers participated in hopes of receiving a portion of the airdrop. However, the developers surprised everyone by burning the tokens equivalent to 2.67% of the total supply. Initially labeled as a mistake made by an intern, this token burn was just the beginning of a more significant reduction in the FU token supply.
The team at Fractional Uprising Studios explained that the token burn was intended to highlight the unrealistic expectations of gamers and showcase the flaws in the token’s emission structure. The announcement of the burn led to chaos in the project’s Discord community, with some users accusing the team of being scammers while others expressed disappointment at the missed opportunity.
Despite the backlash, the developers remain unapologetic and believe that the token burn will ultimately benefit the project. They plan to burn a total of 82% of the token supply, reducing the team’s control over the tokens and making them more appealing to investors. This “big burn” is set to begin this week, with 47% of the supply expected to be burned by next week, and the remaining 35% to be burned by June.
The team at Fractional Uprising Studios is confident in their decision to burn the tokens and is not afraid of losing community members as a result. They believe that the reduced token supply will attract new investors and create a more sustainable ecosystem for the FU token. With no VCs involved in the project, the team is determined to “ape” into the token and create a successful gaming platform.
In conclusion, the token burn by OpenSeason may have caused controversy within the community, but the developers remain focused on their vision for the project. By reducing the token supply and making it more attractive to investors, they hope to create a thriving gaming ecosystem that benefits both players and token holders alike.
By Andrew Hayward