Victory Gem Token
Last updated
Last updated
Victory Gem Tokens are digital tokens issued on the Binance Smart Chain. Victory Gem Tokens can be earned by playing premium matches in the game. Once the Victory Gem Tokens are earned, players can claim them to their wallet. As the main in-game currency, Victory Gem Tokens facilitate both the in-game loops as well as the full Play-to-Earn loop.
Victory Gems are earned exclusively in Olympic Games Jam: Beijing 2022 in the form of the in-game currency gVTG. gVTG is awarded to players that place in Premium Matches, which require tickets for participation. Higher Tiers of play award greater rewards per placement.
Once gVTGs are earned, players can choose to spend them on Game NFT Boxes on nWayPlay containing Olympic Digital NFT Pins, or use them to claim Victory Gem ($VTG) tokens in their wallets as actual on-chain tokens.
Both of these actions require a players create and link their nWayPlay account to their Olympic Games Jam: Beijing 2022 account through the game Settings.
Victory Gem Tokens can be used to purchase Olympic Digital NFT Pins listed within the nWayPlay marketplace, and can also be exchanged on various DEXs.
Players can claim Victory Gem tokens ($VTG) from gVTGs earned in the game. Claiming the VTG from gVTG requires nWayPlay account. Players can create their nWayPlay account at nWayPlay.com. Once created they can link the account to the game by going into the settings menu in the game. Once the nWayPlay account has been linked to the game, the player will be able to see his or her gVTGs earned in the game that are claimable in the My Wallet function of the nWayPlay.com website. The gVTGs earned in the game become claimable upon meeting a set of criteria (detailed below) and the player can use the claim button on the My Wallet function in order to obtain the VTGs. The claim button will also prompt the player to connect their external wallet to the nWayPlay account. Once this is done the players will have both custodial and non-custodial (external) wallets tied to the nWayPlay account and will be free to earn and claim various types of currencies and tokens.
Transaction Fee
The transaction ratio between gVTG and VTG will be 1:100. This means that 100 gVTG is equal to 1 VTG token in principle. The actual gVTGs needed to obtain 1 VTG may be slightly more than 100 in actuality as there will be a 4% fee on each claim transaction charged in gVTG.
Released Victory Gem tokens are held by a holding company of which nWayPlay is the parent. The addition of Victory Gem tokens into circulation - whether through claiming, team, IDO / Liquidity - comes from this holding company. Likewise, Victory Gems that are spent in the nWayPlay marketplace are returned to the holding company.
Acquiring Victory Gems involves claiming gVTG on nWayPlay () through a regulated process.
