WEMIX Gaming Token Soars 37% with Hard Fork and Token Burn on the Horizon

A blockchain platform focused on gaming, WEMIX, defied a sideways crypto market and surged by 37% this week. The rally comes in anticipation of an upcoming hard fork and a significant token burn.

WEMIX bills itself as an “experience-based, platform-driven, and service-oriented mega-ecosystem.” More than 580,000 people use its blockchain game platform, WEMIX Play. The project’s native token is trading at $1.37 at the time of writing, up from $1.01 seven days ago.

WEMIX, whose office is opened in Abu Dhabi, gained traction as users eagerly await the “Brioche Hard Fork,” slated for July 1st. This upgrade promises to overhaul the project’s tokenomics.

WEMIX explains, “This pivotal milestone will introduce a revised minting rule, reducing the issuance of WEMIX per block through 16 updates. This change aims to enhance the value and growth of WEMIX, marking the first step towards mutual growth with the community.”

Token Burn for Community Growth

In addition, WEMIX will unveil an enhanced WEMIX PLAY, where ecosystem performance directly impacts tokenomics. The objective is to ensure that revenue growth from expanding games directly influences the WEMIX ecosystem.

The WEMIX foundation also plans to burn approximately 435 million WEMIX tokens held in reserve. “The burning of the foundation reserves will decrease the available supply, transitioning WEMIX from a foundation-driven ecosystem to a community-driven one. This shift fosters a community-friendly tokenomics model that promotes mutual growth.”