Genesis League Sports announces new tokenomics system
The new system is being put in place before the release of a new game title next year
Genesis League Sports, a new sports gaming platform that is being built on the blockchain has announced it will be launching its own tokenomics system, including token staking, integration of other in-game currencies, and the launch of its own stablecoin.
Genesis League Sports is a Web3-based mobile sports gaming platform with a focus on Play-to-Earn ecosystems and the use of NFTs. The platform’s first game, Genesis League Goals, is set to be released in early 2023 in partnership with the Major League Soccer Players Association. The latest announcement looks to pave the way for the upcoming release.
Starting on November 8th, users on the Genesis League Sports website will be able to stake the GLS governance token, $GLX, users will also be able to claim the Genesis League Game Time token $GLGT, this token will be used to participate in exclusive or presale drops and events on the GLC platform. As of November 11th, users will then also be able to burn $GLX tokens and mint the stablecoin, $GLUSD, which acts as the main in-game currency.
A new experience for sports fans
CEO of GLS and GameFu company, Splinterlands, Jesse Reich commented on the gaming platform and its future saying, “We are truly cutting a path for the new era of sports gaming by building Genesis League Sports on Web3 in order to enhance the gamer experience. We are intentional and thoughtful in our approach to our tokenomics system, and we are always thinking of the game’s longevity and our professionalism as a company navigating the new frontier of blockchain technology. This launch will be a great next step for our GLS community.”
Users with existing accounts for Genesis League will be able to login and manage their account and those who are not signed up can join to start engaging with the platform now, before the full release next year. Card parks are also currently available for presale.