Xfinite and all the use cases of XET Tokens

Xfinite and Algorand

Xfinite and Algorand formed a partnership, where the Xfinite Entertainment Token (XET) is built on Algorand’s blockchain. The Algorand blockchain uses a pure proof-of-stake (POS) consensus protocol to solve some of the issues plaguing other proof-of-work (PoW) blockchains; such as Ethereum’s high gas fees and scalability issues. POS allows the Algorand blockchain to have attractive security, scalability, and decentralization features that lead to the ability for Algorand users to efficiently make microtransactions while remaining energy-efficient and carbon negative.

XET Token Utility

Tokenized Engagement — Inclusive Digital Economy

The XET token was created to build an inclusive economy for its users by offering a fair and transparent rewards economy with real-world value. Users are rewarded in XET token for their engagement with the content, as well as socially and with brands on the platform. Xfinite treats users as partners by including them in the economic and ecosystem success of the platform by rewarding them for their most valuable resource, their time. By doing so, Xfinite improves the relationship between the platform and users. The token also serves a rewarding purpose on Xfinite’s first dApp on their network, Mzaalo. As a streaming service that offers +50,000 hours of content, Mzaalo is powered by XET. The platform provides free access to premium content, user rewards, and a range of interactive features.

Brands, Influencers and Content Creators

Brands and influencers using the XET token are able to purchase advertising space and create interactive advertising services. They can also stake their XET tokens to create their own digital goods and non-fungible tokens (NFT’s) for their fans; increasing monetization and engagement levels for content creators.

Fan Tokens

Fan Tokens are made by brands, influencers, and content creators using XET tokens. They are a form of NFT made to reward and offer special perks to fans for consuming and engaging with brands, influencers, or creators content on the Xfinite platform. Users can also use their Fan Tokens to vote on what content they want to see from their favourite creators. Fan tokens are made to offer users and creators a more meaningful way to engage with each other compared to traditional platforms limited to only likes, dislikes, and comments.

Token distribution

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