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The gaming-focused blockchain platform has defied the sideways crypto market and surged 37% this week amid a hard fork and token burn.
Wemix is a crypto project that describes itself as a “massive, experience-driven, platform-driven, service-focused ecosystem.”
more than 580 thousand people Use its own blockchain gaming 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 saw gains as users looked ahead to the “Brioche Hard Fork,” which will overhaul the project’s tokens. The hard fork is scheduled to take place on July 1.
Explains Wemix,
“This pivotal milestone will introduce a revised mint rule, reducing the WEMIX version per block by 16 updates. This change aims to enhance the value and growth of WEMIX, representing the first step towards mutual growth with the community.
Secondly, WEMIX will unveil the enhanced WEMIX PLAY, where the performance of the ecosystem directly affects the token economy. Notably, the goal is to ensure that revenue growth resulting from gaming expansion directly impacts the WEMIX ecosystem.
The WEMIX Foundation also says it plans to burn approximately 435 million WEMIX tokens held in reserve.
“Burning the foundation’s reserves will reduce the available supply, transforming WEMIX from a foundation-driven ecosystem to a community-driven one. This shift fosters a community-friendly token model that fosters mutual growth.
Despite this week’s gains, WEMIX’s price is still down more than 94% from its all-time high of $24.71, which it hit in November 2021, according to Queen Gekko.
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