ZTX, the pioneering Web3 social metaverse platform, is set to unveil a significant upgrade to its flagship beta application this week, the company announced in a press release. In response to the soaring demand and traffic following its December 2023 launch, the ZTX team made the strategic decision to temporarily suspend the beta service. The objective was to introduce a revamped version with enhanced accessibility and a more inclusive onboarding process.
One of the key features of the upcoming update is the integration of social login options, including popular platforms like Google. This move aims to streamline the onboarding process for new users, offering a familiar and convenient login method. The previous version relied solely on a crypto-native wallet-based login, leading to some challenges. The introduction of social login not only addresses these issues but also paves the way for the future mass onboarding of Web2 mainstream audiences, the team explained.
The legacy Web2 platform of ZTX boasts the fourth-largest metaverse user base globally, trailing only behind heavyweights like Roblox, Fortnite, and Minecraft. By incorporating social login capabilities, ZTX positions itself to attract a broader user demographic, marking a significant milestone in its journey toward mainstream adoption.
Tokenomics Improvements to Alleviate Sell-Side Pressure
In addition to the accessibility upgrades, the new version will feature improvements to ZTX’s token emissions structure. These adjustments are strategically designed to alleviate sell-side pressure on the platform’s tokens. The positive impact of these changes is expected to create a more sustainable and balanced token ecosystem.
The decision to fine-tune the tokenomics comes after careful consideration and feedback from the community. Following the successful beta launch, the ZTX team engaged with users to gain insights and identify areas for improvement. The result is a refined tokenomics model that aligns with the long-term goals of the platform.
Evolution of ZTX Token Ecosystem and Crafting Rewards
“Our beta launch in December last year was extremely successful in that we saw demands beyond what we had anticipated,” said Alexx, Chief Futurist at ZTX, expressing his excitement about the imminent release, “We’ve spent a lot of time conversing with our community to gain feedback and apply some of those learnings to our imminent version update, and can’t wait for our users to get back to the world of ZTX this week.”
As part of the upcoming update, ZTX introduces a new chapter in its token ecosystem by disabling the direct farming of Dark Matter. Dark Matter is a virtual ingredient within the ZTX world, empowering users to craft special capsules that yield ZTX tokens as play-to-earn rewards. The change aims to address the widespread misuse of direct farming, where users set up multiple accounts to maximize yield farming.
In the redesigned version, direct farming of Dark Matter will no longer be possible, ZTX said. Instead, the distribution of token rewards will be structured to recognize and reward loyal users dedicated to core decorative crafting activities. This shift ensures a fair and sustainable distribution of rewards, fostering an environment that values genuine user engagement.