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Tokenomics

Magnumbit (MGB)

The Magnumbit (MGB) token will serve as the governance token of the MagnumMeta ecosystem. MGB will be developed on the Polygon Network and there will be a total capped supply of 500 million tokens. Holders of the MGB token can earn more MGB by simply staking their tokens for an allocated time.

Utility of the MGB tokens

  • Exchanging current Magnumbits
  • Stake to earn rewards
  • Payment for online courses/all transaction fees within the MagnumMeta ecosystem
  • Governance
  • Community rewards
  • Purchase goods and services within the MagnumMeta ecosystem

Magnumlot (LOT)

Magnumlot (LOT) is a blockchain-backed non-fungible token that represents physical land in MagnumMeta. With MGL tokens, users can own a portion of our metaverse, which empowers them to establish an endless number of projects through community exposure. There will be a total of 100,000 LOT. These virtual spaces in the metaverse will be owned by our community. LOT tokens are used to establish businesses, rent spaces to others for their business, and more within our metaverse. Various users can pool their resources to purchase a LOT estate in the metaverse to set up similar businesses or build holdings that can be rented to other users.