What Is Fabwelt (WELT)?

Fabwelt is a platform that merges GameFi, metaverse, and play-to-earn technologies. The network creates a gaming platform that brings blockchain technology into the core of high-quality games of all genres and types. The platform aims to achieve its objectives by using technologies of both worlds-blockchain and high-quality games. The plan behind combining these technologies is to benefit non-gamers and gamers, develop high-quality games, boost playing strategy, and the ways professional gamers earn their income. Fabwelt integrates in-game NFT technology, DeFi, and play-to-earn in these games. In-game NFTs include collectibles, strategies, utilities, and DeFi includes in-fame farming and staking opportunities.

As per its whitepaper, Fabwelt observed that most platforms merged blockchain technologies with games are based on retro-like games and only use NFT tech as collectibles. Play-to-earn is aimed at one game only for the entire ecosystem, limiting gamers' gaming experience and creating a lack of diversity in the crypto space. Hence, the platform merges both technologies and seeks to create multiple genres of games along with in-game NFTs, DeFi, and Play-to-earn experiences. These NFTs are based on ERC1155 technology and sufficient stock for each NFT to be created. Gamers can earn rare and unique NFTs by achieving various goals in the games.

Welt is an ERC-20 standard-based Polygon token of the Fabwelt platform. This digital token contract has built-in transaction fees for various purposes. The contract gets renounced after successfully locking liquidity. The platform allocates its tokens 10 percent to marketing/community, 15.5 percent to ecosystem development, 6 percent to exchange liquidity, 4 percent to advertisers, and 10 percent to the team. Five percent of the token allocation goes to seed round funding, 4 percent goes to private round funding, 2 percent to private round funding, 16 percent to IDO Launchpad, 0.5 percent to public sale, and 35 percent goes to incentives, liquidity, and community rewards.

History of Fabwelt (WELT)

Fabwelt was released in the second quarter of 2021 by Loet De Hoodge. Other founding members of the team include Abhishek Pegada (CEO), Praveen Gujjari (COO), and Muskan Verma (CMO). The total supply of this currency is five hundred million WELT tokens.