OpenSeason Takes Drastic Action, Burning 82% Of Token Supply

The battle royale shooter OpenSeason recently hosted a 12-hour competition that offered players a chance to earn $350,000 worth of Ethereum-based tokens. Instead of giving away the tokens, the developers burned them, revealing plans to burn even more in the coming weeks.

According to the update, 82% of the FU Money (FU) token supply will eventually be destroyed. Fractional Uprising Studios, the game’s developer, shared that the decision was taken to protect the token’s value and create a humorous experience for players.

Last week, the team announced the Mega Jeet competition, named after crypto slang for individuals who sell tokens too quickly. During the event, 909 players competed for a share of the tokens in OpenSeason, which is available on the Epic Games Store for PC.

OpenSeason burns FU token Tokens Instead of Airdropping

To the surprise of participants, the developers burned 2.67% of the FU token supply, initially calling it an intern’s mistake. However, the move was part of a larger plan to significantly reduce the token supply.

One of the Co-Founders, Krypticrooks, revealed that the token burn was a way to highlight what they called the “insanity” of expecting free rewards. According to the update, the event also aimed to critique the current token distribution system.

Chaos followed in OpenSeason’s Discord server. Many users accused the team of being scammers, while others expressed disappointment. One player said he had hoped to upgrade his computer with the token rewards but later shared that he no longer had any expectations.

OpenSeason’s Developers Apologize To Players By Giving Out Shitty Bean NFTs

As an apology, the developers plan to send a “Shitty Bean” NFT to participants of the competition. However, the team announced that they are not worried about losing community members over the stunt.

According to the update, the developers believe they have strong support from various NFT projects, including Bored Ape Yacht Club and Milady Maker. These projects are integrated into OpenSeason, encouraging further tribalism within their community.

The developers of OpenSeason are now preparing for what they call the “big burn,” which will burn 82% of the token supply. This includes tokens allocated for the team, future projects, and competition rewards.

The decision comes after realizing that the initial allocation was too large, causing the FU token to be less attractive to investors. By reducing the supply, the team hopes to improve the token’s appeal and encourage more players to engage with the project.

According to the update, 47% of the token supply will be burned by next week, with the remaining tokens set to be destroyed by June. The team explained that this would limit its control over the supply, reducing fears of a market dump.

OpenSeason’s developers added that the burn benefits those who owned tokens before the event. Krypticrooks said after this burn, almost 50% of the tokens from the airdrop will be gone. The drastic reduction in token supply marks a new chapter for OpenSeason and its community. Whether this move will stabilize the token’s value or lead to further criticism remains to be seen.