Rumble Kong League Releases Goals, Supply, and Structure of New Token Economy

Rumble Kong League Releases Goals, Supply, and Structure of New Token Economy

Rumble Kong League publicly released details about its upcoming native utility token, LEAGUE.

We’re excited to share the initial tokenomics vision for our games economy," the team tweeted. "Over the past six months, we have spent an immense amount of time analyzing web3 game economies and traditional web2 game economy models."

The result is LEAGUE, a new token for the Rumble Kong League ecosystem based on a bonding curve model that will control its supply and, to a certain extent, its price.

"To avoid the downsides of a fixed supply token and the uncertainty of project-controlled ones, we’ve decided to use a TBC (Token Bonding Curve)," the team wrote in its announcement. "This state-of-the-art solution was made possible thanks to the evolution of SCs (Smart Contracts) and AMMs (Automated Market-Makers)."

The supply will fluctuate, and there will be two total tokens. The first, LEAGUE, has "real monetary value," while the second, a general reward token, does not. It is an in-game currency meant to operate in a similar way to Fortnite's V-Bucks or Roblox's Robux.

The goal of the new Rumble Kong League token ecosystem is to create a stable way to reward game and ecosystem participants. RKL does not want speculation on its token's price or non-players acquiring the token for any other reason.

"Above all, the primary goal of the token system is to provide a stable economic environment for players in the RKL ecosystem," the team said. "We want to avoid issues whereby non-players are acquiring the token with an expectation of pure price increase or other speculation."

"This behavior is not useful and in fact harmful long term, and thus we aim to discourage it," the team continued. "Furthermore, extreme swings in the token price are highly detrimental to the stability of the in-game economy."

"To re-iterate, the stability of the token price is absolutely paramount for the health of the overall micro-economy within the Rumble Kong League," the team concluded. 

For more information about the token and the upcoming RKL ecosystem, see the team's full announcement here.

More about Rumble Kong League

Rumble Kong League is a collection of 10,000 utility NFTs that live on the Ethereum blockchain.  Each Kong serves as the token holders' access to a competitive 3 vs 3 basketball experience, combining play-to-earn functionality with NFT Collection mechanics.  Each Kong comes with a randomly generated set of attributes that can influence their performance in a match, providing additional depth and strategic elements. 

At the time of publish, the Rumble Kong League floor price sits at 0.47 ETH, and has stayed relatively flat over the past 24 hours on 7 ETH volume of transactions. Over the last 30 days, 13 sharp wallets have sold 15 NFTs and 4 sharp wallets have bought 5 NFTs in the Rumble Kong League collection. Catch up on other recent Rumble Kong League news here.

Recent Rumble Kong League Sales

#5092sold at 12/08 7:12pm for
0.390
#2122sold at 12/07 5:12pm for
5.50
#1159sold at 12/07 11:12am for
0.475
#7349sold at 12/07 12:12am for
0.750
#1975sold at 12/06 6:12pm for
0.403

Recent Rumble Kong League Listings

#1975listed at 12/08 7:12pm for
0.470
#1975listed at 12/08 7:12pm for
0.470
#5092listed at 12/08 7:12pm for
0.471
#5092listed at 12/08 7:12pm for
0.471
#1975listed at 12/08 6:12pm for
0.471
Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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