What is The Zoo Token?

In this blog, we'll cover and explore the use cases and utility of the Zoo Token.

The Zoo Token is the underlying asset that backs the whole CryptoZoo network, we will explore the ZOO Ecosystem and what the future can look like.

Acquiring: ZOO Token ecosystem participants can acquire ZOO Tokens currently via Pancakeswap using the contract address : 0x7ffc1243232da3ac001994208e2002816b57c669, in the near future the Zoo Token will also be native on the Ethereum Network, and will be interchangeable via our own bridge.

Minting: What does it mean? Minting is another word for creating. ZOO Tokens can be imbued into different types of assets (both physical and digital) and allow them to be backed by actual market value. All items that utilize the ZOO Ecosystem will be infused with our native Zoo Token.

For Example: A Pandacat is introduced into the metaverse, and a player wants to use it as a mount - this PandaCat has actual accrued ZOO Token value while using it in game, allowing for authenticity and proof of ownership via 1. The NFT, and 2. The actual PandaCat having ZOO Tokens “inside of it” as well.

Every digital asset has real-life value and ZOO is used to create and validate it.

Every time assets are created the ZOO used is removed from circulation until that asset is destroyed. In the example of CryptoZoo when animals begin their yield they do not enter circulation unless that animal is “released into the wild,” then the ZooKeeper can retrieve their yield.

Gaming: The ZOO Token can be acquired in various ways, besides purchasing on an exchange.

For example playing in the CryptoZoo Ecosystem:

• A form of validated entry (like a ticket) to participate in CryptoZoo’s mini games.

• Competing against other CryptoZoo ecosystem participants and potentially earning ZOO Tokens.

• Wagering on other ZooKeepers hybrids to win a competition in a given minigame.

• Using your animal to collect resources and selling those resources in exchange for ZOO Tokens.

• Purchases either in-game or other official marketplaces from other game developers or ecosystem participants.

• Person to person transactions directly, or on approved regulated secondary markets.

Game Developers or Freelancers: ZOO Token is required to participate and build within CryptoZoo’s ecosystem.

A game developer wants to create their own ZOO backed NFTs, or make accessories for other animals that must be backed by the native ZOO token.

Creating Minigames: Third party developers can create their own minigames and in return collect a fee in ZOO incentivizing a decentralized community effort to enhance the CryptoZoo ecosystem.

Creating Digital Assets: All digital assets that are created that wish to be included in the ecosystem must be backed by ZOO.

Trading: All ZOO Token virtual and physical items (whether earned or purchased) are not kept on any servers, or a centralized party - they’re safely contained in a given individual's wallet of choice (i.e MetaMask, Trustwallet etc).

All trades that happen within the CryptoZoo ecosystem must be approved / confirmed by an ecosystem participant via their wallet.

It’s also important to highlight and differentiate the value of assets minted on ZOO based on their inherent value, and their ZOO-Backed value. For example: A PandaCat accrues a daily yield of X amount of ZOO and may only earn X amount per day - however, it could be exchanged for potentially higher than what its currently yielding. It all comes down to utility for example: Attributes (stamina, body shape, fur type, toughness, intellect etc.), or the demand within the ever expanding metaverse, the amount of competitions won, the options are endless and we’re now only to begin to dive into the rabbit hole that is ZOO.

In conclusion, the ZOO Token can be used in many different ways, from simply earning yield with your hybrid animals, to using it as a medium of exchange, minting and creating custom items to introduce into the CryptoZoo Ecosystem, content creators and influencers to incentivize their community with ZOO or ZOO backed assets, limited edition items, or even exclusive branded NFTS.

The Zoo Token will continue to be ever expanding, and the use cases will only grow.

Happy Breeding!

The CryptoZoo Team