BurgerCities (BURGER): An Important Aspect Of The World Of Cryptocurrencies
What Is BurgerCities (BURGER)? If you have watched Netflix a lot you must have heard the term ‘metaverse’. But the question is how much do you know about it? Indeed we are all on the top of all the developments in this virtual world. As per the forecasts, the market is slated to be worth $800 billion by the end of 2024. Surprised? You shouldn’t because some of the latest cryptocurrencies have been emerging in this world and one such example is BurgerCities.
Notably, the BurgerCities (BURGER) were launched in 2022. It was briefly immersed across the metaverse. However, it may not be described as a conventional cryptocurrency. Questions! Does its unique attributes give enough of a push to the traders and investors building their portfolios? How does its price forecast stack up as far as the value of the potential investments?
There are several similar questions related to the BurgerCities (BURGER). Let’s dive into it and understand it more briefly.
What is BurgerCities (BURGER)?
Initially, there was a BurgerSwap which was a decentralized finance (DeFi) platform established on the Binance Smart Chain. It was made live in 2020 with an aim to let people swap their crypto coins, assets and tokens. For this, BurgerSwap was used as an automated market maker (AMM). However, the decentralized finance (DeFi) projects began to lose their prominence.
Therefore, the BurgerCities was considered an evolution in the BurgerSwap project as it took the decentralized finance (DeFi) projects and the non-fungible tokens (NFTs) and integrated them with the help of metaverse. Boom, now it has started to become even more interesting. This development was termed ‘MetaFi’. It turned out to be an online game where the users “engage in daily activities like socializing, gaming or others”.
Apart from these daily activities, the users may leverage the functionality of decentralized finance (DeFi) projects and NFT in order to trade and stake the virtual assets. For end users, it is called an online game or, as they say, a portal into the BurgerCities universe. It is pertinent to mention that BurgerCities are having its own native token namely BURGER. It is a BEP-20 token standard that may be used to provide liquidity, mining of tokens, or trading the non fungible tokens.
When was BurgerCities taken online?
The BurgerCities universe is considered a new addition. After completing the development and experimenting during the first part of 2022, the first edition, known as Alpha version, was made live in early summer of 2022 with over 100 associates. By the end of 2022, all the features were made available for the users.
How does BurgerCities (BURGER) work?
Apart from the BURGER token, there have been several components that include the experience of BurgerCities gameplay. One of them was Central NFTs that were considered as Heroes. These were the characters that were up for sale in the form of NFTs. The characters were also used in quests, Player vs Player (PvP) battles, or the professions.
However, these were not required for swapping, staking or providing liquidity.
It is worth mentioning here that the Black Market is said to be one of the three main ‘buildings’ in the universe where aggregation protocols are used to provide liquidity from the other exchanges. It makes sure that an individual gets the best price while swapping tokens.
The other one of the three main ‘buildings’ is the Central Bank which is a single-coin, also considered a dual-mining revenue aggregator where the users are allowed to stake their tokens. With this, an individual may earn yield and boost the mining returns.
The third one is the Energy Plant. It provides users with a chance to be one of the liquidity providers. In return the user receives token rewards.
Besides, the users may also make a passive income by buying and selling the virtual land. As per the official blog of BurgerCities, there are several reasons why it is initiated and the main reason is said to be building and styling the home, for instance. The other reason to place an advertisement.
How can you earn BURGER?
BURGER may only be used in the gaming universe which is considered a disadvantage of the token. However, it may quickly be exchanged for other crypto tokens or coins.
Initially, one of the options is to buy the native token from various exchanges. Still, it can be earned in the universe and all you have to do is to provide liquidity. It is pertinent to mention that all the blocks contain 40 BURGER tokens and the miners get a share of this allocation on the basis of how much liquidity they provide. Notably, each block is restricted to 120 BURGER and the supply is at least 1 BURGER.
It may be recalled that as of September 2022, 40 percent of BURGER rewards were given to those who provided liquidity while 30 percent were given to those who took part in governance and the remaining 30 percent of rewards were burned forever.
It has started to become even more interesting. Want us to dive in more. Let’s get into it.
What are BurgerCities NFT Skins?
The NFT skins do more than reflect the status of a user in the game. It provides the user with a ‘Play To Earn’ incentive which is redeemed within the game and is intended to engage the users within the game. It also promises a potential reward.
How many BurgerCities coins are there?
This is indeed a very common question for all those who have been a noob in the world of technology, especially in the BurgerCities. It may be recalled that the BURGER token emerged in September 2020. It emerged mainly as an incentive to the users who have been providing the liquidity to BurgerSwap. Back then, the original cap was stated to be 21 million tokens, however, it changed in summer 2022 when several tokens were introduced to clash with the creation of BurgerCities. Notably, it was not welcomed across the globe.
One of the founders stated in his blog that since the progress of the product and the timing of token issuance didn’t match, the BurgerCities decided to issue tokens first and later announce it to the community. He stated that the feelings of the community were not taken into consideration.
Then what? All the extra tokens were burned while several BURGER tokens moved back to the 21 million. However, it was a short-spanned development. Later in August 2022, the maximum supply of BURGER coins increased from 21 million to 63 million.
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