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Sensorium Burns $500,000 Worth of SENSO Tokens Following Private NFT Land Sale

Sensorium ArcApr 26, 2023
senso token burn

2023 has been a busy year for us, with major updates to our Sensorium Galaxy metaverse, the development of new Web3 projects and major crypto moves.

Earlier this month, we held an early-stage NFT land sale connected to Sensorium’s P2E metaland project - UNDER - with private investors snapping up the land parcels. Following the sale, Sensorium burnt $500,000 worth of SENSO tokens (Reference exchange rate: $0.10) as we continue our efforts to support the health of our ecosystem's tokenomics.

UNDER land parcels are scheduled to become available for the general public over the coming months under a multi-stage drop scheme. The first drop will include 2500 NFT parcels and all transactions are settled in SENSO.

Ownership of UNDER NFT land enables users to monetize their blockchain gaming experience in Sensorium’s decentralized platform. Each NFT land comes with resources that can be mined by their owners with multiple game mechanics.

SENSO is key to supporting all operations within Sensorium’ platforms, including being our in-platform currency and being used across NFT minting, NFT marketplace transactions, game mechanics, social tokens and empowering users to become a part of Sensorium Galaxy’s DAO for creators.

"Burning tokens is one of the key aspects of maintaining a healthy tokenomics ecosystem within cryptocurrency projects. By reducing the overall supply of tokens and increasing the demand, we hope that our burning initiative can have a positive effect on SENSO while also raising interest for the token”, adds Alex Firsov, Sensorium's Chief Web3 Officer Sensorium’s latest major burn was at the end of 2021, with the company burning 1 billion SENSO, leaving the total supply of SENSO at the time at 700 million tokens.

All changes to our supply can be easily monitored via Etherscan.

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