What is Token Utility? Staking, Quests, and Powerful NFT Cards

3 min readAug 16, 2021

Whether you’re new to the crypto space or are a veteran of the game, you’ve more than likely come across the term “Token Utility” when eyeing down your next crypto investment. In the world of NFTs, token utility lets users know how a native token functions in the ecosystem it supports, and the lucrative benefits it provides them with.

The Power of TECH Tokens

Cryptomeda’s native TECH token elevates our overall platform experience with a multi-utility token designed to reward users in several ways. Apart from trading and purchasing digitals collectibles, TECH holders will enjoy benefits that provide community members with the opportunity to earn passive income, governance rights and take part in exciting quests to win rare NFTs.

Staking

To make the process of staking TECH as simple, flexible, and rewarding as possible, Cryptomeda provides holders with two pools and rewards systems to choose from. Our first option, Standard Staking, allows holders to earn more by staking more. Their tokens are held in a general staking pool and there is no fixed amount required for this method.

The second option, Liquidity Staking, requires holders to provide TECH & Ethereum tokens in return for a broader range of rewards. With this option, tokens are added to the Uniswap utility pool in exchange for a Liquidity Provider Token. Users can further stake these LP tokens within the Cryptomeda platform as a way to add more $TECH to their wallets.

Our pools will lock withdrawals two months from the time staking begins and rewards will be distributed to staked balances weekly, thereby compounding interest and maximizing ROI for our users.

Community Quests

Like other native tokens on NFT platforms in the market, $TECH enables holders to buy, sell, and trade their favorite digital collectibles. However, we wanted to ensure that $TECH also provided innovative and rewarding ways for users to participate in our ecosystem, and we accomplished this with the advent of Community Quests.

Users can put their creative skills to the test and compete with one another through art, stickers, and writing, as a way to suggest new ideas for cards and storylines. Submissions will be voted on by the community and the Cryptomeda team, and winners will receive rare NFT cards exclusive to the quest they participated in.

Meda Wars

Our Meda Wars game adds extra utility and entertainment for TECH holders with a strategy-based game that allows users to earn rewards like more TECH, cards collectibles, and NFTs found within the game itself. The game will first launch for mobile devices, with plans to develop larger PC-based games in the future.

Tokenomics

The breakdown of our tokenomics is as follows:

Token Name: TECH Token

Token Ticker: $TECH

Blockchain: Ethereum

Token Standard: ERC20

Initial Circulating Supply: 28,000,000

Total Supply: 1,000,000,000

Token Price: $0.014

Initial Market Cap: $356,000

An Inclusive Ecosystem and Token

Holding TECH encourages every one of our users to share their talents, have their voices heard, and interact with one another within our ecosystem. It also provides our community with an element of entertainment and multiple ways to enjoy earning lucrative rewards. It’s a clear sign of a one-of-kind platform with a truly revolutionary native token.

About Cryptomeda

Cryptomeda is a gaming ecosystem that uniquely blends NFT collectibles, DeFi mechanics, and iconic crypto characters into an exciting fantasy world. Players of all experience levels can explore Cryptomeda and find various opportunities to earn; whether it is finding rare collectibles, winning prize pools, receiving ranked rewards, or acquiring an ultra-rare Revolution card, traversing the world of Cryptomeda is both fun and highly rewarding. To tie the world together, all economic activity is facilitated by one unified currency — TECH.