Coin is Token, isn’t it? Enter Blockchain, users usually see the word “tokens” used but when deep into crypto, they also touch “coins”. That is the root of the wrong, even though they think both are the same. However, the reason for that confusion is from the way created them – the main point can distinguish and maximize user profits.
Some tokens and coins are available in the market: BNB token, TRX token, VEN, ZON, RACA, AXS…In Horizon Land Metaverse, ZON is the main token used as the main cryptocurrency for activities. Let’s explore the difference between them and learn more ways to “earn” – “hold” – “trade” from our tokens and coins!
- What Is Metaverse Token?
👉Token is the digital signature or electronic signature encrypted become numbers in each diverse device. Code token created is the OTP code used once time and randomly for each transaction. Tokens are usually adopted by enterprises in daily transactions, especially in online transactions. We can understand it is the password musted fill because of the security. On the confirm time with token code, users can sign the smart contract but can’t change anything after that. It has legally valid as their real sign.
Tokens are divided into two types: soft token (the software providing at least one token code installed on computers or smartphones) and hard token (small devices easily bringing to anywhere to get transactions token codes)
- What Is Metaverse Token?
Metaverse is the virtual reality world having inspiration from physical life based on blockchain platform. It provides a multi-player experience by transforming into characters in metaverse creative ecosystem.
Metaverse Token is the token at virtual reality level, owners can use them in both metaverse and real-life activities. Such as shopping payment methods, Metaverse Token is not only used for metaverse trading but also used in e-commerce or NFTs are used to sign the intellectual property rights and trade by token metaverse in metaverse/exchanges/physical world. Example: token SAND of Sandbox is the utility token used throughout Sandbox ecosystem as the basis of transactions and interactions. It is an ERC-20 utility token built on the Ethereum blockchain. Or ZON tokens of Horizon Land Metaverse use BSC as the foundation for the implementation of BEP1155 and BEP721 and be used as the main currency for transactions.
The bottom line here is Metaverse Token hasn’t just transaction tools, it is the bridge connecting users to metaverse with having the overall virtual reality experience and exchange together by tokens. But rather meaning, token metaverse can become the global currency by its transparency, correctness, diversity and rapidity; global digital transformation; and draw the “dream” world in the future.
2. How To “Earn” From Horizon Land Metaverse Tokens?
Horizon Land use BSC as foundation for the implementation of BEP1155 and BEP721, any platform/wallet that supports these 2 token standards will be able to test and use our ASSET. Tokens represent user’s digital assets issued according to standards of Blockchain Network and smart contracts established by Horizon.
Horizon Land Metaverse will be divided into 3 types of tokens:
– ZON: main currency
– LAND: the base asset create Horizon Land Metaverse
– ASSETS: trees, buildings, items, creative assets from creators…
- “Earn” From ZON Token
ZON is the main token in the Horizon Land metaverse. The token is tied to the Horizon Land platform and its value. ZON has the following uses:
– Governance: ZON is a governance token that allows holders to participate in Governance decisions of the platform. They can vote on key elements and updates of the metaverse. ZON owners can vote themselves or delegate voting rights to other players of their choice.
– Staking/Farming: ZON allows for staking/farming, which allows for passive revenues on LANDS: you get more ZON by staking it.
– Using Horizon Land’s services: Users spend ZON to play games, purchase LANDS, trade assets on the marketplace, use services (events, advertisements,…)
– Exchange: Holders can trade ZON on exchanges.
- “Earn” From LAND Token
Invest in LAND or real estate in virtual reality, did you try it?
LAND in both physical world and Horizon Land Metaverse have many opportunities and challenges for Land Owners because of trading, renting, upgrading, building, creating NFTs… LANDs in Horizon Land Metaverse are virtual tokens (using the ERC-721 standard for NFTs), representing physical ownership of the user’s territories. Horizon Land Metaverse is based on a map of 175 000 LANDS (550*550). Every LAND comes with a set of prebuilt terrains, but it can be terraformed and modified by the USER who owns it (or rents it).
However, Land’s Horizon Land Metaverse can be bought by BUSD or other tokens/coins so the “occasion” – “moment” – “price” to starting bought LAND bringing the best values is on its launching time.
- “Earn” From Assets
Horizon Land Metaverse’s asset tokens are buildings, structures, items, or resources created by users…That can become a passive income for users. For example, when hunting an exclusive bag, they can sell it to get revenues. Or when playing games in Horizon Game Center, they can collect the gold chest reward – one of limited assets in-game and then sell at a high price.
3. The Big Confusion Between Tokens And Coins (Cryptocurrency)
The main different points between coins and tokens will be listed below:
– Algorithm: between them has the big adjective by an algorithm
- Coin is the digital cryptocurrency activating separate and based on its blockchain platform.
- But tokens must be based on another currency blockchain platform to work such as tokens TRX, VEN,…are created on Ethereum platform.
– Feature:
- Coin is considered the currency with storage values and transaction features. But rather be used to support smart contracts, benefits, NYC transference or betting. Example: Bitcoin has features of stablecoins, Ethereum has been used to provide its smart contract.
- However, token is considered the digital assets used more generous than coin. Not only having the payment features but also having a points system and other transactions.
– Additionally, everyone has used a token at least once in their life even if not in this form. For example, your car title is a token. When you sell the car, you transfer the value of the title to another person. However, you can’t buy something else with that title.
Conclusion
Although tokens or coins brought some confusion because of their meaning. But in Horizon Land Metaverse, tokens can make user’s experience become diverse, special, unique and exclusive in the deserve metaverse ecosystem built by creative. Tokens or coins will together accompany all users in a multi-experience opening reality. All be decided by users!
Read more about Horizon Land Metaverse Token: https://docs.horizonland.app/horizon-land/technology/token
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