What Is Throne (THN)?
Throne is an NFT ecosystem cryptocurrency designed for the next generation of creators and collaborators. The ecosystem aims to provide an inspiring platform for every digital creator and become the global value of cryptocurrencies. Subsequently, users play, build, create NFTs, and generate revenue from their virtual experiences across multiple platforms through the Throne ecosystem.
According to the whitepaper, blockchain technology is rapidly becoming one of the most chosen technologies for metaverse development. This is because users need systems for funding with creative expression, supporting vision, connectivity, etc. Thus, the Throne team intends to build the Throne ecosystem using the possibilities of blockchain and expand by developing a vibrant city, namely Throne City, in the metaverse.
Throne City is designed to allow participants to co-govern the city's development, create commerce areas and zoning laws, collaborate with architectures, etc., inside the metaverse. The core components of Throne City include the Throne NFT marketplace, the Throne City (metaverse), the Throne City Play, Architects and Urban Planner, and the Throne City DAO governance.
The Throne City metaverse runs on the community-governed DAO structure with THN tokens. Also, THN is the native currency of the Throne network and ecosystem. By creating its token economy, the platform aims to provide a more sensible and sustainable solution to power the value of digital culture.
Further, THN is an ERC-20 utility token based on the Ethereum network that enables the purchase of lands and NFTs. The THN Ethereum network allows users to purchase lands on the Thorne City metaverse. Once the token purchases the land, they are burned to maintain the value of tokens issued. Apart from this, the land purchaser also receives an NFT of the land purchased.
THN is also a governance token stored in the Solana network. The THN Solana network allows users to purchase in-world goods and services on the Throne City, voting rights, and purchase construction permits. SOL-THN also enables THN holders to submit proposals and funding requests to improve the ecosystem on the Solana network.
History of Throne (THN)
The founders of Throne include British award-winning music producer Nellee Hooper; Gee Roberson, the manager; Chimere Cisse, communications executive; Sotheby's Institute alumni, Julia Pavlovska; Adam Strauss, a brand specialist; blockchain architect Anthony Karter; crypto-native Hajime Matsumura; and blockchain venture capitalist Qinghua Li. The Throne NFT marketplace was successfully launched in 2021.
