XYZVerse Preparing For $XYZ Token And CS2 League Launch
XYZVerse is preparing for its Token Generation Event after raising more than $15m during presale. The launch will see the $XYZ token on major exchanges and trigger the launch of its CS2 league.
XYZVerse CS2 League
Each league will see ten teams of five compete for prizes. Each team consists of three content creators, a project founder, and one community member. To be eligible, the community member has to have bought a Battle Pass, which costs $100, with places determined by lottery drawings.
Buying a Battle Pass also grants community members additional benefits, including map voting rights, access to content, and the ability to predict winners for the potential to earn rewards.
A Battle Pass doesn’t reward any tokens outright, but with a total purse totaling $5.5m for the inaugural season, the league structure has the potential to become something huge.
The team behind XYZVerse hopes that the competition will bring more than a million viewers, giving appeal to content creators, while the inclusion of community members in every team will generate external interest.
The Battle Pass requirement and the additional benefits it offers will, according to proponents, prevent the typical meme coin dip that occurs after initial interest dies down.
The $XYZ Token
The $XYZ presale has completed and saw an initial price of $0.0001 rise to $0.00715, eventually raising more than $15m. The team has said the coin will list at $0.10, which means a substantial increase for early investors – on paper, at least.
All votes, interactions, game results, and prizes will be stored on-chain, ensuring privacy and trust, and the project could pave the way for other, similar esports ventures and gaming competitions in the future.
Technically, XYZVerse is a memecoin ecosystem that has been developed on the Polygon blockchain. Tokens will be burned regularly, helping manage supply.
But, investors should be wary.
The project is listed as having a total supply of 100 billion tokens and a launch price of $0.10, which means a target market cap of $10bn, which it obviously won’t hit. It’s also worth noting that the 1 million viewer number is an estimate and assumes that the CS2 league will pull in high-profile content creators, which isn’t guaranteed.
The team behind it has also remained anonymous, which isn’t that unusual in the cryptocurrency space, but it does raise questions over its validity. That’s not to say it won’t be successful, though, and we will be watching to see how successful the league proves.
