Xfinite and all the use cases of XET Tokens

The XET token is designed to reward Xfinite users and creators through tokenizing engagement and creating a circular economy. Blockchain technology enables new opportunities for creators and their fans to interact with each other through creating fan tokens, brand tokenization, and decentralized social governance. By leveraging the scalability and throughput of the Algorand blockchain, Xfinite is seeking to create a new way for creators and fans to have a richer online experience and more financially rewarding relationships.

Xfinite’s native asset, XET token, was listed yesterday, 15th of September 2021, on the controlled market MEXC. This collaboration implies that over 6 million active MEXC Exchange platform users from the United States to Australia will be able to acquire XET tokens through MEXC.

In this article we are going to go over the use cases and token utility of the XET token; the cryptocurrency token powering the Xfinite blockchain ecosystem.

Xfinite and Algorand

Why Algorand?

At scale, Algorand is cost-effective, making it ideal for microtransactions. Per transaction, the average cost is less than 0.001 USD. Algorand has a TPS (transactions per second) of 1,000, which is faster than on larger payment and banking networks. Algorand also breaks through blockchain’s technological hurdles, resolving the trilemma of security, scalability, and decentralization.

By choosing Algorand to create the XET token it allows a large number of transactions to occur at a low cost compared to Ethereum (at the time of writing). This made the most sense for XET because tokenizing engagement requires transactions to occur for each engagement that occurs. The low cost of transactions also allows users and creators to benefit from microtransactions, and also experiment with different types of content and engagement styles.

XET Token Utility

Tokenized Engagement — Inclusive Digital Economy

Thanks to these cutting edge features, Xfinite bridges the digital and the real world, allowing users to understand that their time is a valuable asset and that they can earn real-world rewards of intrinsic value just by spending time doing what they love — Having fun.

Brands, Influencers and Content Creators

Creators can create their own branded e-stores by staking XET tokens that their fans make purchases from using the XET token creating a full-circle economy for all XET stakeholders. Content creators can also spend their XET tokens to create digital certificates to set the digital ownership rights of their creations.

Fan Tokens

Details for Xfinite Entertainment Token

Ticker: XET
Asset Class: Utility Token
Token Type: Algorand Standard Asset (“ASA”)
Token Sold: 1,000,000,000
Total Supply: 4,000,000,000
Explorer: https://algoexplorer.io/asset/283820866

Token distribution

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