In a move that will surely shake up the blockchain space, Uniglo has announced that it will be diversifying its vault with investments in PolySwarm, The Sandbox, and Decentraland.
With the ever-growing popularity of NFTs, it comes as no surprise that Uniglo would want to get in on the action. However, what is surprising is the company’s choice to invest in three very different projects.
PolySwarm is a decentralized market for anti-malware software. The Sandbox is a user-generated content platform that allows creators to monetize their creations with NFTs. Decentraland is a virtual world that uses blockchain technology to give users ownership of virtual land and assets.
With this move, Uniglo is clearly positioning itself as a major player in the blockchain space. And with its deep pockets and experience in the online world, it’s a safe bet that the company will be a force to be reckoned with.
Why does Uniglo (GLO) invest in these assets?
With the help of its multi-asset-backed treasury, Uniglo will be able to purchase intriguing assets like rare non-fungible tokens and high-growth digital currencies (NFTs). In addition to these more stable assets, Uniglo’s “vault” will also hold digitized versions of real-world collectibles like pricey watches. The native token GLO will increase while surviving market swings thanks to its varied asset combination.
Another feature that distinguishes this project is its Ultra-Burn Mechanism, which is an additional burn model on top of the conventional token burn, but the profits generated by the vault will be used to buy back GLO tokens from the market. As a community-based network, the choice to buy back and burn tokens—and how many—will be made by the entire community.
Learn more here:
Join Presale: https://presale.uniglo.io/register
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.