Glossary
This is an information archive for the verbiage and terminology used in the White Paper. Some terminology may be new and unclear to readers, as well as specific terminology of MetaBrands, which is specified in detail on this page.
Term | Definition |
|---|---|
Airdrops | Monthly yield from all programs deployed by MetaBrands, used to purchase MAGE utility tokens from the public market to be airdropped to MAGE Relic owners |
DAO | Decentralized Autonomous Organization; an organization designed to be automated and decentralized |
MAGE Ranks | MAGE token holder tiers that provide different benefits, based on the amount of MAGE tokens held. In total, there are 3 ranks: Master, Oracle, Archmage |
MAGE Relics | The official MetaBrands NFTs that are minted through the process of burning MAGE tokens, in order to create the NFT(s) |
Metaverse | A network of virtual worlds, merging physical and digial realities |
Metaverse Resource DAO | Terminology and description used for the MetaBrands ecosystem to represent the genre, industry, and type of organization |
NFTs | Non-Fungible Tokens; provable unique digital assets with true digital ownership |
Play-to-Earn (P2E) | A gamified economy where players can extract a real world value from their contributions and energy invested in games |
Scholarship | A program that an asset owner creates and manages for players to participate in a play-to-earn game with no capital required |
TGE/Token Launch | A Token Generation Event (TGE) is a business and technical act of limited duration that involves the technical generation of the token in a blockchain-based network, and its launch to the market, normally in the form of a public sale, private sale, or initial coin offering (ICO) |
