Heroes of Mavia Rethinks Token Strategy

Heroes of Mavia, a mobile strategy game, has announced a significant revision to its token unlock schedule, seeking to address the rapid inflation of its supply. This change comes just a few months after the launch of its Ethereum-based MAVIA token.

The game’s developers made the announcement late Thursday, which led to a dramatic 21% spike in the MAVIA token price. However, this surge was short-lived as the token price plummeted, falling even lower than pre-announcement levels. As of the latest update, MAVIA is trading at $3.72, marking a nearly 9% decline over the past 24 hours.

Since reaching its peak at $10.59 two months ago, shortly after its initial launch in early February, the token has seen a steep 65% drop. Originally, the plan was to increase the circulating supply from 12% to 24% by February 2025. However, under the new strategy, the circulating supply will now remain below 14% through the end of that period.

Significant cuts have been implemented in the “private sale,” “gameplay rewards,” and “community & ecosystem” allocations, which will see an 80% reduction overall until February 2025. Furthermore, token distributions allocated for the team and advisors have also been deferred to the same deadline.

The MAVIA token experienced a temporary resurgence following a blog post by the developers, rising 10% after the game’s announcement was tweeted to its 457,000 followers. Nevertheless, the uptick was quickly reversed as token holders began selling off their MAVIA, leading to a sharp and sustained price decline that erased the initial gains.

Heroes of Mavia, available on iOS and Android, draws significant inspiration from the popular game Clash of Clans. While Skrice Studios, the developer behind Heroes of Mavia, has introduced a game-specific token and has distributed it via an airdrop to 100,000 players, along with selling NFT land plots, these elements have yet to be integrated into the gameplay.

Currently, the game can be played without any evident connection to its underlying crypto components. However, there are plans in place to launch an in-game marketplace for purchasing and trading NFT items, which will utilize the Ethereum layer-2 scaling network, Base.

The adjustments to Heroes of Mavia’s token economics reflect a strategic pivot intended to stabilize its market performance amidst volatile trading conditions. By slowing the increase in supply, the game’s developers aim to bolster token value and ensure a more sustainable ecosystem for players and investors alike.