Decentral Games is a play-to-earn metaverse platform. Notably, it is the most recent project to implement a token split. Such events are a welcome addition to the digital assets ecosystem. The concept of token splits is similar to corporate stock splits, which draws the attention of market newcomers. Furthermore, splitting crypto coins is an effective way for such protocols to increase their market valuation and liquidity. Following the factors, the metaverse announced a 1:1000 split of its native DG tokens.
Decentral Games has announced the token split.
Decentral Games’ native cryptocurrency, DG, will be divided in 1:1000. The mind behind the gaming metaverse first consulted the community about the split via a referendum. Notably, more than 99.5 percent of token holders supported the split. Although the split will have no effect on the project’s market cap, the DG token worth $500 will now be worth only $0.50. However, because the portfolio’s value remains constant, investors will see an increase in the number of tokens they hold.
Crypto splits have emerged as the new paradigm.
Stock splits are a concept that all financial market veterans should be familiar with. Such events are frequently used to attract newcomers to the market and to access additional liquidity. Splits, unsurprisingly, indicate some potential market volatility, and the price begins to move in the strict direction. As the value of the tokens falls, more investors will be able to purchase them, ultimately increasing the value of the tokens. Although token splitting is not yet a standard method, there are some intriguing examples.
The Advantages of Token Split
There are numerous advantages to performing a token split, according to the team behind Decentral Games. The first impact of such measures will be on the price of individual DG tokens, which will become more affordable in order to gain widespread adoption. Furthermore, such measures contribute to future price increases. The split of the DG tokens, on the other hand, will provide a better token distribution for the network’s governance system. The more tokens there are, the more democratic the community will become. Finally, the process will be extremely beneficial in the decentralized decision-making process.
Overall, the gaming metaverse community has some important takeaways from the decision to split DG tokens. It’s worth noting how the community overwhelmingly supported this idea. Indeed, the community recognizes the advantages of making tokens more accessible and widely distributed.