Honey Deluxe token is a cryptocurrency belonging to the Bears Deluxe platform. Bears Deluxe is an NFT platform developed using blockchain technology. Bears Deluxe aims to create a bridge between NFTs, gaming in the DeFi space, and the Metaverse. The Bears Deluxe ecosystem is known as the Honey Farm. The Honey Farm is developed using seven smart contracts. These smart contracts serve a variety of functionality to the Bears Deluxe ecosystem, including enabling operability on multiple networks as well as game development and upgrading of the platform. According to the litepaper, these smart contracts also enable the developers to expand and grow the system with no end goal in sight.
The Bears Deluxe ecosystem is designed to provide users with an immersive experience. Bears Deluxe proposes to implement gamification to increase participation in its network. Gamification is the process of adding mechanisms of games into non-gaming environments such as websites, intranets, or online communities. The Bears Deluxe ecosystem consists of three types of NFT collections: Bears Deluxe, Bees Deluxe, and Hive Deluxe. Bears Deluxe holders may mint Bees Deluxe NFTs. Hive Deluxe NFTs can generate 3 Bees Deluxe NFTs and be depleted in the process.
$HONEYD is the native utility token of the Bears Deluxe network and fuels the functions and features of the Bears Deluxe platform. $HONEYD is an ERC-20 token built on the Ethereum network. Bears Deluxe holders can obtain 1 $HONEYD every day. The $HONEYD can be stored in a digital wallet, and the users may claim their $HONEYD tokens any time they want. Unlike Bears Deluxe, Bees Deluxe cannot generate new $HONEYD tokens. $HONEYD tokens may be used to revive depleted Hive Deluxe NFTs.
In the future, Bears Deluxe has plans for creating DApps such as a game titled Hungry Bear and NFT Paint.
