Application of Blockchain Technology
Non-Fungible Tokens
Our aim is to guarantee true ownership of digital assets through the implementation of Non-Fungible Tokens (NFTs).
NFTs are cryptographic tokens powered by blockchain technology that provide the following benefits:
Provide safety for users, because NFTs are recorded on a blockchain, which is a distributed ledger, minimizing the risks for theft and fraud.
Provide interoperability for digital assets, so that assets can be used in other applications and games as well.
Provide the freedom to trade digital assets with other users with convenience and transparent costs.
The NFTs in the EFAS metaverse will be implemented through smart contracts using either the ERC-721 standard or a comparable standard on an alternate blockchain.
The Governance Token
A governance token (the $EFAS token) is a fungible token that lets its holders vote on important issues in the management and operations of the EFAS galaxy. Holders of the $EFAS token are members of the Universal Congress and can vote on issues pertaining to the governance of the project. This token will be implemented using either the ERC-20 standard or a comparable standard on an alternate blockchain.
The Game Token
A game token (the $KPL token) is a fungible token that is produced by engaging in economic and productive activities in the EFAS metaverse and is consumed by purchasing goods and services such as rare troops, spaceships, vehicles, and equipment. This token will be implemented using either the ERC-20 standard or a comparable standard on an alternate blockchain.
Decentralized Autonomous Organizations
At a future time, different factions, corporations, and organizations within the EFAS galaxy will be formalized as Decentralized Autonomous Organizations (DAOs) which allow the members of each DAO to govern the operations of that DAO. Each DAO is able to issue its own governance token.
To embrace decentralization to the fullest possible degree, every social entity in the EFAS metaverse will eventually be structured in a decentralized manner, which is the principle behind the DAO. With such a governance structure, the members can vote for the operations and strategies of a social entity and rest assured that its decision-making process is fair and transparent.
