Songket Miners and PyroPets impacts in Metrixcoin ecosystem
Insight 3
Songket Miners and PyroPets are NFT projects on MRX blockchain. Both projects take advantage of the recently launched MetriVerse marketplace to reach to more investors and art enthusiasts. What are the major missions of the projects in addition to the attractive NFT artwork?
PyroPets (PyroPets.org) burns MRX for activities such as NFT minting, stoking and token conversion. This reduces MRX total supply.
Songket Miners (MetriVerse.exchange) locks MRX as the NFT is purchased, a long term hodl. However, depending on the situations, some of the MRX will be exchanged for USDT to enable operational purchases, trading or investment.
| Project | NFT Impact | Remarks |
| PyroPets | Burns MRX (destroys supply) | Limited Gen0 |
| Songket Miners | Locks MRX (limits supply) | Airdrops are planned |
Both projects disrupt the supply of MRX. By the law of supply and demand, this disruption of MRX supply, in theory, should increase the price of MRX. More demand for MRX will come with the launch of MRX DDAO, which will join the effort to lock more MRX from the free market.
How is Songket Miners further linked to PyroPets?
Songket Miners airdrops can include PyroPets, meaning some of the MRX will be burned during Gen0 generation. It will also make Gen0 more in demand as the number of Pyro available for minting is reduced.
bit.ly/SongketMiners