Play 2 Earn Web3 games have been on the rise lately, with more and more people getting interested in earning cryptocurrency through gaming.
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One of the most popular tokens is the $JNGL token that supports the Jungle Labz ecosystem. This ecosystem consists of Supreme Kong and three other collections and the organization has risen to being within the Top 75 on the ETH blockchain, with millions in secondary volume, operated by its holders.
With clear indications of interest and traction, it is no surprise that $JNGL caught the attention of Blockster. This spotlight interview with Cyrus, a key member of the community, which sheds light on the story of $JNGL and its utility within the ecosystem.
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Can you elaborate on the concept of ecosystem coins within the Jungle Labz ecosystem and how $JNGL specifically fits into this model?
Cyrus: JNGL is used in dapps, games, and as a microtransactional token.
$JNGL has been methodically developed since Summer 2022. Can you walk us through the development journey and the key milestones achieved?
Cyrus: Developing the tokenomics, use cases, and proper applicable use cases.
How does $JNGL alleviate the fatigue seen in existing markets, and what makes it different from other ecosystem tokens that are typically owned by venture capitalists?
Cyrus: It is not owned by any VC, instead owned by the people. No large 3rd party has weighted influence on the development path and direction of token. One of the very few tokens not owned by VC in the NFTFI model.
Before launching $JNGL, you simulated its ecosystem with the off-chain token $KONG. What were the key learnings from this simulation, and how did it prepare you for the ERC-20 launch?
Cyrus: We learned how users interact with their tokens, what is desirable, and what leads a user to stake versus not stake their tokens.
What distinct features does $JNGL offer in terms of enhanced functionality, governance, and community participation within NFT ecosystems?
Cyrus: JNGL has not been activated as a governance token, JNGL can be used in casinos, ability to be raffled, and ability to upgrade NFT metadata.
Can you share some insights into your background and the team’s background? What expertise does your team bring to the development and success of $JNGL?
Cyrus: We have been in the crypto space for 8 years, having worked from tokens to NFTs we have extensive experience with how markets work, backed by a professional developer team based in Dallas, TX, USA, we are poised to continue delivering.
How will staking work within the $JNGL ecosystem? What rewards can users expect to earn from staking their tokens?
Cyrus: Users can gain $KONG tokens by staking $JNGL. $KONG allows user to redeem Solana and ETH NFTs within their marketplaces.
What do you see as the long-term value proposition for NFTs within the $JNGL ecosystem? How will $JNGL enhance the value and utility of these NFTs?
Cyrus: The NFTs are able to be staked to receive $JNGL rewards. The NFTs also unlock multiple capital growth utilities that holders love to utilize.
How do you see decentralized NFT marketplaces evolving, and what role will $JNGL play in this emerging trend?
Cyrus: The only applicable use case I see is $JNGL being integrated to allow users to shop for NFT using $JNGL.
Can you discuss the importance of cross-chain compatibility for $JNGL and how it will be implemented to benefit users and the ecosystem?
Cyrus: We have seen in the past $JNGL being used to mint NFTs on Bitcoin.
Based on your whitepaper, what are the future trends and trajectories you foresee for ecosystem coins in the NFT space, and how is $JNGL positioned to capitalize on these trends?
Cyrus: JNGL is designed to be used in multiple ecosystems to power everything they do. With its limited supply, and non VC owned supply, its well positioned within the NFT ecosystem. We see more projects releasing marketplaces and games. It is inevitable that tokens are used within these climates, hence being able to use $JNGL.
How does $JNGL ensure true community ownership and fair distribution of tokens, and what measures are in place to prevent speculative sell pressure?
Cyrus: Staking helps with speculative sell pressure. There is no true way to completely avoid sell pressure. Best way is to incentivize the community for reasons to hold. The token already has fair distribution.
Can you explain the tokenomics of $JNGL, specifically the allocation of the total supply?
Cyrus: How are the Presale, CEX/DEX, JL Treasury, Rewards, Gen 1 Pool, and Launch LP portions intended to support the ecosystem’s growth and stability?
The presale supply is locked in the LP. The CEX/DEX tokens have been used to get us listed on multiple exchanges already. The JL treasury and rewards tokens and Gen 1 pool tokens were allocated to NFT rewards within our ecosystem. Tokens are also used for social activities and giveaways.
With a total supply of 10,000,000 $JNGL tokens and various distribution channels, how do you plan to balance liquidity and ensure long-term value appreciation for token holders?
Cyrus: Best answer is value proposition. Our utilities are lucrative so member want to take part in our utilities to grow. Requirements are to buy and hold our tokens for access. As long as our utilities continue to perform, we will see long term appreciation of token values.
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Why $JNGL Is Set To Disrupt the Industry
In many other crypto ecosystems, VCs (Venture Capitalists) take a large portion of the supply, leaving only a small percentage for community distribution. This can result in centralized control and a lack of fair distribution for token holders. $JNGL has taken a different approach by allocating a significant portion of the total supply to community distribution channels such as presale, rewards, and NFT incentives. This ensures a fair distribution of tokens among community members and reduces the risk of centralized control.
Although VC capital can help bring value into a project, it is important to maintain a balance and not rely solely on VC funding. This is because these entities typically get first mover’s advantage and can potentially manipulate the market and sell their tokens at a higher price, leaving other token holders with little room for profit. $JNGL aims to create a sustainable and decentralized ecosystem where token holders have the opportunity to contribute and benefit from the growth of the project.
Moreover, $JNGL has a strong value proposition that incentivizes long-term holding and active participation in the ecosystem’s utilities. The more tokens are held by the community, the more benefits they can access, such as staking rewards, NFT rewards, and social activities and giveaways. This creates a positive feedback loop where the demand for $JNGL increases as its utilities become more valuable, leading to long-term value appreciation for token holders.
The ability for users to gain $KONG tokens by staking $JNGL tokens also adds to the utility and value of $JNGL. This further encourages holding and active participation in the ecosystem. $KONG enables users to redeem Solana and ETH NFTs within its marketplaces which connects the project to the broader NFT market. This creates a synergy between the $JNGL ecosystem and the growing NFT market, which is estimated to reach a value of $80 billion by 2025 according to leading analysts at Jeffries Investment Bank.
“$JNGL is a solution that alleviates the fatigue we have been feeling in existing markets.”
Experience is another important aspect that the team at $JNGL is focusing on. They have a strong team with diverse backgrounds and experiences. This allows them to bring a unique perspective to the project and create innovative solutions that cater to different users’ needs. They’ve seen what works and what doesn’t in the crypto space, and are using that knowledge to build a successful ecosystem for their community.
Building a Strong Community of $KONG Enthusiasts
In addition to have a powerful potential to change the NFT market, $JNGL also has implemented a strong suit of benefits for community members. Owning $JNGL gives you full access into all the benefits Jungle Labz offers its holdership.
The benefits range from the following perks:
Becoming a member of their organization
Receiving claims and airdrops
Access to their IRL events
Brand Association
Token Gated DeFi Applications
AI Learning (Q4)
“With just owning 2970 $JNGL token, you become a full fledge member of Jungle Labz.”
As you can see, the team at Jungle Labz is building something bigger than just a token or an NFT. They are creating a community of like-minded individuals who share the same passion for innovation and decentralization. This complete ecosystem is fueled by the $JNGL token, which not only serves as a utility within the platform but also rewards its holders with exclusive benefits and privileges.
Final Thoughts
Monkey business is a term used to describe chaos and disorder in the business world. However, with $JNGL, Jungle Labz is turning that notion on its head by using innovative technology and forward-thinking strategies to create a new ecosystem that benefits all its stakeholders. It has the potential to revolutionize the NFT market and pave the way for a more equitable and decentralized future.
“$JNGL powers everything in the jungle.”
So, if you’re tired of slipping on the banana peel of VC rugs and tired of being left out of the conversation, join the jungle and become a part of $JNGL today. Who knows, you might just swing into success with Jungle Labz by your side. Their social media pages and website are always buzzing with updates, so don’t miss out on the opportunity to be a part of this exciting journey.
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