Nobility is a token in the esports gaming industry, and as per its website, the token plans to revolutionize the industry by the use of innovative blockchain technology. The token also integrates the benefits of decentralized finance (DeFi).
DeFi refers to an emerging financial technology based on secure distributed ledgers that eliminate central control of banks and institutions on financial products, currency, and financial services.
The token seeks to resolve the current problems faced by the esports gaming industry, such as its limited outreach, by building a fair, balanced, and sustainable model for all participants in the market. Thus, the token intends to be offered as a scalable solution adopted by everyone globally.
Further, the platform seeks to offer tournaments with significant prize pools, a passive income via stablecoin, and bring in games for the community. Stablecoins refer to a class of cryptocurrency that aims to offer price stability by pegging their market value to some external asset such as the U.S. dollar or gold prices, etc.
The native token, Nobility, goes by its ticker NBL and for every token transaction, 2% is sent to the liquidity pool (LP), and equally, 2% is allocated to the user’s wallet. LPs allow users to trade crypto tokens on decentralized exchanges (DEX) and other DeFi platforms, not needing centralized market makers. In other words, LPs refer to a pool of cryptocurrencies or tokens that are crowdsourced and locked in a smart contract that supports the trade between assets on a decentralized platform. Additionally, the liquidity is locked in an LP for one year.
Lastly, the token can be used for esports tournament prize pools, business development, marketing, scholarship funding, charity donations, community events, giveaways, etc.
