CMX Usage & Sinks
The use case for the token that powers the MFC Metaverse.
The CMX token will have a number of uses as both an FT and an NFT. The choice to use a dual token system was important to allow for a much broader use case. In addition to being a collectible, the primary use case for the tokens will be to gain access to special limited events, blends, sales and drops which will only be available for either the FT or NFT.
The FT will be used to acquire comics, collectibles, collaboration drops, and other NFTs issued by MetaForce Comics. For some of these drops and sales they will only available for the FT, for others a portion of the sale will be available for the FT.
The FT will also be used to acquire governance tokens. These tokens can be acquired by transforming your CMX into the governance token by way of burning the CMX. This will be a one direction token bridge and will not allow you to return your governance token to CMX.
The NFT will be extremely versatile. In addition to it's value as a collectible, it will also be used as a reward for a number of activities in the MFC Metaverse as well as the NFT mining programs in which MFC participates with partner projects.
The NFT will also allow us to provide a gateway to other chains/communities. Once there are open bridges MFC or it's community can choose to bridge CMX NFTs to other chains, thus extending the MFC brand throughout the busiest and most active chains in the NFT space. Those that collect them will then need to bring those NFTs back to the WAX chain and engage with the MFC community to turn them into fungibles. Many will make the effort, but some may not. This will artificially reduce the liquid supply if they are used. This method will be used only after testing in small batches and considering the impact on the tokenomics.
In addition the NFT will be used for crafting in the Burn to Buy program. For a portion of the sales/drops done by MFC the only way to get those drops will be by crafting, which will burn the NFTs. By burning the NFT it creates a reduction in the overall supply and makes the total supply deflationary by design. The rate of distribution and burn has not yet been finalized.