Spores Network Introduces SPO Buyback Program and Partnership with Netvrk
Spores Network is constantly trying hard to help make a difference in order to celebrate and foster growth in the crypto community. To that end, they have announced that during each business quarter, 25% of the profit from NFT sales will be used to buy back SPO tokens from exchanges. Those tokens that were bought back will then be locked for two years.
You might be wondering why they are doing this. It’s simple; their objective is to lessen the circulating supply of SPO tokens, increasing the value of SPO token holders. Spores intends to increase the value and utility of SPO tokens among those who believe in the project. Buybacks began this month, in October 2021, and will continue quarterly thereafter. By the end of Q3, the team intends to have purchased 24,890 USD worth of SPO tokens.
The buyback will take place over a two-week period. Spores’ business mantra is transparency, so in that spirit, the team will share the wallet address so that the community can monitor their progress. How amazing is that ?!
Let’s take a moment to delve into the SPO token utility.
What is the SPO Token Utility ?
The SPO token is a utility token in and of itself, with one of its primary functions being the ability to purchase NFTs on Spores Marketplace. The Spores Marketplace is rising in popularity with both crypto and mainstream audiences as Spores begins to onboard a large amount of content and intellectual property that is new to the crypto space.
Furthermore, Spores Network has largely decided that a marketplace that only accepts SPO as a payment currency is not commercially viable for all partners. Moving ahead, the Spores Marketplace payment system will have a portion of the collections or drops available for purchase via SPO and the remainder via other crypto assets.
All in all, the team believes that the current operating model will enable them to serve all audiences. This will increase the tokens’ utility and improve their ability to introduce new customers and content creators to the Spores Network.
“Where can I buy these SPO tokens”, you ask ? They are available on CoinGecko, Uniswap (Trading pair — SPO/ETH), Gate.io and CoinMarketCap. Hurry and get yours now ‼️
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Now, to even better news ‼️
Spores Network is partnering with Netvrk again ‼️
Spores is excited to announce that Netvrk has chosen them to be their partner for a new round of pre-sale for Netvrk Tansport, following the first sold-out Netvrk Land Sale event with $1M in sales. Netvrk is a Metaverse and platform that provides powerful creation tools and infrastructure for easily creating, sharing, experiencing, and monetizing creations. With a focus on gaming, education, and virtual workplaces, the platform is based on the ownership of virtual land and assets.
Netvrk teamed up with John Park, a famous designer known for his masterpiece designs for several of the major brands and franchises in the entertainment industry, on the upcoming Netvrk Transport release. These transports aren’t just going to be works of art; they also serve a purpose in Netvrk. Having these vehicles allows you to travel the metaverse in comfort and style: by land, sea, and air.
Owners will be able to teleport all onboard passengers to relevant locations on the map. Each transport will also allow the holder to receive a larger portion of staking rewards as well as a portion of Netvrk Reserve distributions. Participants in the upcoming Spores x Netvrk Transport Sale will have EXCLUSIVE access to these incredible NFTs at PRE-SALE prices ‼️
Stay tuned for more information and updates on the transport sale in the coming weeks.