The use of blockchain technology to run token farms is booming, and a growing number of companies are exploring how they can use the technology to build value and boost their brands.
Key points:The aim is to use the platform to drive revenue generation and to raise awareness of their brands’ productsToken farms have become a key pillar of the crypto-community as token crowdsale launches have helped launch the likes of Tokenopia, MetaMask, Coinapult and moreToken farms are an integral part of a crypto-industry that has seen the rise of a whole range of products and services in recent years, from the smart-card-based Token Wallet to the crypto currency ICO marketplaces.
However, for many token farms, this is a one-way street, with the goal of driving the token farms business through the blockchain.
The idea is that farmers are using blockchain to make money through their farms and generate revenue by selling their tokens to other token holders, with each token being worth different amounts.
For example, a farm might use the blockchain to generate a token worth $0.20 to sell a farm’s shares in the company to other investors.
The tokens are sold at a discount, and the farmer earns money from the sale.
In the case of MetaMask token, the farmers are selling a share of their assets, but with the MetaMask network, the shares are worth more than $1,000, making them worth more money than a regular farm.
The Farm Burger app for iOS is also a token farm, with farmers using the app to sell their assets to other blockchain owners.
The company says the Farm Burger platform allows token holders to sell farm shares in a “simple and easy way”.
They also use the system to make payments, which is a big deal for token farms because the fees involved in making payments are often low, said Brian Lee, CEO of MetaMasks farm burger app.
“Farm burgers are a great way to get more value out of your tokens,” he said.
“It’s a way to incentivise farmers to share their farm with the community.”
The Farm burger app allows farmers to sell share of farm assets to blockchain owners, with an additional $0,20 to be made from the sales of the farm’s assets, said the company.
The app allows token owners to sell assets in a simple and easy, but high fee, way, and it’s a great option for token farming.
— Farm Burger (@farmburger) April 25, 2021Token farms also use blockchain for the trading of their tokens, which makes it an ideal platform for companies like MetaMask and Tokenopia to monetise their token businesses, said Lee.
The application lets the farmers sell farm assets, which will earn them an additional 2.5% on top of their usual 10% commission on the sale of the assets, he said, adding that the average farm gets around 2% to 3% of its revenues from these transactions.
MetaMask is currently in the process of integrating its blockchain-based token trading platform, Tokenopia.
Token farms use blockchain technology, which allows them to generate revenue through the sale and trading of farm shares.
— Tokenopia (@tokenopia) April 24, 2021With MetaMask’s Farm Burger, the company is using blockchain technology for its token-based trading platform and other token-related transactions.
— MetaMask (@farmbud) April 26, 2021MetaMask’s platform has already been used by several other crypto-entrepreneurs to make more money, such as MetaMaskcoin and MetaMask.
MetaMasks is currently working with MetaMask to provide its farmers with more tokens, according to the company, with more farms expected to be onboard soon.
“We’re looking forward to more token farms coming online in the future,” said Lee, who said that he would like to see more farms using MetaMask at some point.