BIVE and VRA are two types of Tokens used in the BIZVERSE ecosystem. However, the way they are used is completely different. This article will help you understand the definition and usage of BIVE and VRA in BIZVERSE.
1. What is BIVE?
1.1. What is BIVE?
BIVE is the main currency token of the system. BIVE plays a central role in BIZVERSE ecosystem.
1.2. Application of BIVE
BIVE is used in most BIZVERSE transactions:
- BIVE is used by BizMems to buy/sell/rent/lease properties in the form of vrMalls; rent/lease the vrExpo event organization system.
- Buying/selling/renting/renting vrStore/vrBooth product display stores; event halls, vrHall event zones, vrPano/vrBanner advertising content areas and vrNFT virtual assets developed and sold by BIZVERSE users.
- BIVE is also used to convert tokens (Swap) with VRA to reward users for conducting token mining mechanism (coin mining) through visiting booths, participating in shopping, watching ads, hunting games add-in in BIZVERSE (similar to PokemonGo), users can conduct mine manipulation by clicking to view ads or sharing information with friends.
- BIVE can be swapped with VRA into USD and BIVE at the market price.
- In the BIZVERSE ecosystem, users can earn extra income in BIVE. Simultaneously, they can use the BIVE they have earned to buy and sell items, change characters and details in BIZVERSE.
- In addition, when uploading VR Assets to Marketplace, users also need to pay a fee in BIVE.
- Participating in network governance: Users or holders who own BIVE tokens always have the right to participate in the system governance process through voting. If you do not vote directly, you can delegate to another player.
- Betting to earn: Not only a vote, but BIVE owners can also participate in staking. Staking will help the players to earn a bonus in BIVE.
- Application to Fee Capture model: In the total transaction volume in BIVE, deducting 5% and redistributing from the beginning. In addition, about 30% of BIVE from the staking pool will be used as a reward for the holders of this token.
2. What is VRA?
2.1. What is VRA?
VRA represents the ownership of assets in the metaverse of the BIZVERSE ecosystem. VRA is a utility token. VRA is not quite a digital currency like BIVE but instead, VRA is a form of the digital asset used internally within the BIZVERSE ecosystem.
2.2. Application of VRA
- VRA is used to pay rewards directly to users participating in shopping, watching Ads & Play to earn activities.
- VRA is used to pay rewards for mining activities of BizMem by clicking login on the App every day.
- VRA is used to reward to BizBoss or BizPro when attracting the number of Active Users in 1 month.
- VRA can swap BIVE
BIVE and VRA will list on the exchange shortly. These 2 tokens will be applied in all payment transactions on BIZVERSE. Hope this article helped you understand how to use these two tokens in BIZVERSE.