Genesis League Sports Announces Expansive Tokenomics System

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As of November 8th, at the Genesis League Sports website users will be able to stake the GLS governance token, $GLX, to claim both $GLX and the Genesis League Game Time token ($GLGT) as result.

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Provider:

PR Newswire

Retrieved on:

Tuesday, November 8, 2022

Information

Tags:

Thought, U.S. cities with teams from four major league sports, Longevity, Professional, GLX, GLG, GLS, Sport, Blockchain, Ecosystem, Partnership, MLSPA, Burn, CEO, Cryptocurrency

Geotags:

PENNSYLVANIA

Organisation:

GENESIS LEAGUE SPORTS

Summary

Key Points:

As of November 8th, at the Genesis League Sports website users will be able to stake the GLS governance token, $GLX, to claim both $GLX and the Genesis League Game Time token ($GLGT) as result.
At the time of $GLUSD minting, the Genesis League Sports website will support the functionality for the entire ecosystem.
Users with an existing Genesis League account will be able to log in to the GLS website and manage their $GLX, $GLUSD, and $GLGT.
Genesis League Sports (GLS) is a Web 3.0-based mobile sports gaming platform created in 2022 by the same team behind leading blockchain gaming development company, Splinterlands.

Genesis League Sports Announces Expansive Tokenomics System

MEDIA, Pa., Nov. 8, 2022 /PRNewswire/ -- Genesis League Sports (GLS), the new sports gaming platform being built on the blockchain, today announced it would formally launch its tokenomics system, including token staking, integration of additional in-game currencies, and the launch of its own stablecoin.

The game's new ecosystem will pave the way for its official game launch of Genesis League Goals (GLG), the soccer-based card strategy game which is set to release in early 2023.

As of November 8th, at the Genesis League Sports website users will be able to stake the GLS governance token, $GLX, to claim both $GLX and the Genesis League Game Time token ($GLGT) as result. $GLGT will be used to participate in exclusive or presale drops and events on the GLG platform. Starting on November 11, 2022, users will also be able to burn $GLX tokens and mint the stablecoin, $GLUSD, which will be the main in-game currency.

At the time of $GLUSD minting, the Genesis League Sports website will support the functionality for the entire ecosystem. Users with an existing Genesis League account will be able to log in to the GLS website and manage their $GLX, $GLUSD, and $GLGT.

Jesse "Aggroed" Reich, CEO of GLS and GameFi company, Splinterlands, expressed excitement at this new stage for the gaming platform.

"We are truly cutting a path for the new era of sports gaming by building Genesis League Sports on Web3 in order to enhance the gamer experience," he said. "We are intentional and thoughtful in our approach to our tokenomics system, and we are always thinking of the game's longevity and our professionalism as a company navigating the new frontier of blockchain technology. This launch will be a great next step for our GLS community."

Participants are encouraged to sign up for a free account at goals.genesisleaguesports.com to start engaging with the platform in anticipation of its full release next year, with card packs also available now for presale on the site.

About Genesis League Sports:

Genesis League Sports (GLS) is a Web 3.0-based mobile sports gaming platform created in 2022 by the same team behind leading blockchain gaming development company, Splinterlands. The platform, set to release its first game, Genesis League Goals, in early 2023 in partnership with the Major League Soccer Players Association (MLSPA), will make use of blockchain technology and its capacities for users to truly own, trade, and hold in-game assets, while earning real-world rewards. The company will also use this technological foundation to bring about operability between the other sports games planned for the platform. GLS has already seen strong enthusiasm for its new offering to gamers, with more than 200,000 packs sold in its presale shortly after release. To learn more about GLS, please visit goals.genesisleaguesports.com.

Media Contact:
Liam Labistour
(302) 440-6295
[email protected]

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SOURCE Genesis League Sports