Heroes of Mavia Trims Token Release to Curb Inflation

Heroes of Mavia, an Ethereum-based mobile strategy game, has adjusted its token unlock schedule to curb inflation. Despite an initial surge after the announcement, MAVIA's price has plummeted by 21%, mirroring a 65% decline from its peak. The revised schedule delays and reduces various token allocations, intending to keep the circulating supply below 14% until February 2025.

Heroes of Mavia Revises Token Unlock Schedule to Curb Supply Inflation

In a bid to mitigate the rapidly expanding supply of its MAVIA token, the mobile strategy game Heroes of Mavia has overhauled its token release schedule. The revision comes less than three months after the Ethereum-based token's initial launch.

Following the announcement late on Thursday, the MAVIA token experienced a brief surge of 21% before plummeting to levels lower than those prior to the news. At the time of writing, MAVIA is trading at $3.72, representing a decline of almost 9% in the past 24 hours.

Since reaching its all-time high of $10.59 two months ago, Heroes of Mavia's token has witnessed a precipitous decline, currently standing at approximately 65% below its peak. The game's initial plan was to incrementally increase its circulating supply from 12% to 24% of the total between February 2024 and 2025. However, under the revised schedule, the circulating supply will remain below 14% until the end of this period.

The latest move entails an 80% reduction in planned allocations for "private sale," "gameplay rewards," and "community & ecosystem" until February 2025. Additionally, allocations for the team and advisors will be postponed until the same date.

Upon the publication of the blog post, the price of MAVIA began to rise, with a notable 10% jump within half an hour after the game tweeted the announcement to its substantial following of 457,000. However, the optimism was short-lived, as MAVIA holders swiftly sold off their tokens, triggering a sudden price drop that continued to widen over the subsequent hours, effectively erasing the initial gains.

Heroes of Mavia is an iOS and Android game that bears a striking resemblance to Clash of Clans. While the game's developer, Skrice Studios, has introduced a token, airdropped it to 100,000 players, and sold NFT land plots in the past, these elements have yet to be incorporated into the gameplay.

The anticipation for the Ruby Marketplace release is building.

On May 5th, Mavia's most anticipated update arrives.

New Skins, Color Schemes, Statues, Land Decorations and Consumables are going live as tradeable Legendary Items for RUBY. pic.twitter.com/3vmPlOeGQB

— Heroes of Mavia (@MaviaGame) April 5, 2024

Presently, it is entirely possible to play the game without realizing its crypto-centric nature. However, plans are in place to launch an in-game marketplace where players can buy and trade NFT items using the Ethereum layer-2 scaling network Base.

Edited by Andrew Hayward