Forgotten Runes has announced the launch of its $XP token, which will become the main currency of its ecosystem. Remember that Forgotten is not limited to its MMORPG Forgotten Runiverse, it also includes creator-focused projects.

$XP promises to transform the interaction of players and fans of the Runes franchise. Find out everything that comes with it.

What is Forgotten Runes?

Forgotten Runes is a decentralized fantasy franchise that mixes the web3 ecosystem with storytelling. This started with the Forgotten Runes Wizard's Cult collection, which consists of 10,000 unique wizard NFTs, each with traits, history, and a digital page in the Book of Lore.

This book allows NFT holders to contribute stories, art, and ideas, leading to the creation of a collaborative world.

Forgotten isn't limited to games, though, you'll find comics, animated series, and other media here. Whether you're into monster fighting, story creation, or NFT collecting, you're sure to find something for you in Forgotten Runes.

Introduction to $XP: The Core Currency of the Ecosystem

The $XP token will be the economic engine of the Forgotten Runes universe, functioning as the core currency within its various on-chain and off-chain experiences.

Core Features of $XP:

• Core Utility: $XP is the currency that powers the entire Forgotten Runes universe.
• MMORPG Integration: $XP will be fully integrated into the upcoming flagship game Forgotten Runiverse, so you can expect rewards in this token, as well as benefits for land owners, as was made clear in the AMA about lands.
• Monetization: The goal is to transform the economy of the ecosystem, moving away from relying on other external tokens, even changing rewards or prizes from $RON to $XP (similar to the function of $LUA in Lumiterra).
• Launch through Arcane Foundation: The token will be launched through the Arcane Foundation; details are still to be announced.

While the specific use cases for $XP have yet to be fully revealed, it is clear that it will connect all aspects of the ecosystem, from gaming to story creation.

With $XP integrated into the Runiverse, it will play a pivotal role in the in-game economy and the exchange of obtainable resources and items. It is advisable to wait for a stabilization of prices to avoid losses or exaggerated payments.

Why is $XP Important?

The $XP token represents an essential step in the evolution of Forgotten Runes. As the franchise's core currency, it connects all of its components, both on- and off-chain.

From powering the Runiverse game to supporting creator projects within the DAO, $XP is designed to make the ecosystem broader.

Token System for a Flexible Economy

Forgotten Runes' economic system uses various tokens to maximize player engagement:

• Gold: Basic currency for everyday transactions, such as crafting and traveling.
• Mana: Premium currency for upgrades and special items.
• Quanta: The most versatile currency in the game, as it can be converted into $XP, while also being focused on enabling customization of personas and in-game experience.

This variety of tokens allows players to enjoy the game without being directly affected by the price fluctuation that the $XP token may face.

Economic Sustainability Mechanisms:

• Minting Mechanism: Players can mint items as NFTs, which creates constant demand for the Quanta token.
• Land Investments: Players can use Quanta to upgrade buildings and land, which incentivizes reinvestment and maintains the value of $XP.

• Dynamic $XP issuance: The $XP issuance rate is not fixed and can be adjusted to ensure long-term economic sustainability. (Something to consider when talking about a decentralized ecosystem like Web3)
• In case of inflationary pressure, they could reduce $XP issuance rates and increase minting capacity to encourage Quanta spending.

This flexible economic system allows Forgotten Runes to respond to market fluctuations, maintaining a long-term balance in its ecosystem, which is the same thing other games like Pirate Nation or Paradyse have tried to implement, in order to make their ecosystem self-sustaining.

Get ready for its launch!