Sensorium Burns $500,000 Worth of SENSO, Holds UNDER NFT Tokenized Land Sale

Novel metaverse project Sensorium (SENSO) shares the details of its latest milestones and crucial addition to its advisory team.

Sensorium announces largest token burn event and tokenized land sale

Metaverse ecosystem Sensorium has secured a sizable private sale of non-fungible tokens (NFTs) connected to its highly anticipated metaland gaming project, UNDER.

🚨 5M $SENSO Tokens WERE BURNED Following Private #NFT Land Sale 🔥

🗓 Date: Apr-26-2023 (05:26:35 PM +UTC)

🔗 Burning Etherscan transaction: https://t.co/JGer7oDe9q pic.twitter.com/WHHWesKytd

— SENSO Token✨ (@SensoToken) April 26, 2023

The early-stage NFT land sale saw private investors eagerly purchasing parcels tied to UNDER, the upcoming virtual world that will feature 25,000 NFT parcels with integrated blockchain game mechanics and an extensive upgrade system associated with original games.

Following the private sale, the company burnt $500,000 worth of SENSO tokens as part of their ongoing efforts to maintain a healthy tokenomics ecosystem.

Over the next few months, these land parcels will be made available to the general public via a multi-stage drop scheme, starting with an initial offering of 2,500 NFT parcels. All transactions will be settled in SENSO tokens.

Owning an UNDER NFT land parcel empowers users to monetize their blockchain gaming experience on Sensorium's decentralized platform. Each NFT land comes equipped with resources, called SENSO Aura (SAr), that can be mined by their owners through various game mechanics. Users can then exchange their SENSO Aura for ERC-20 SENSO tokens.

SENSO plays a critical role in all operations within Sensorium's platforms, including functioning as the in-platform currency and facilitating NFT minting, NFT marketplace transactions, game mechanics and social tokens. Additionally, SENSO enables users to participate in Sensorium Galaxy's decentralized autonomous organization (DAO) for creators.

Former OKX CEO Jay Hao joins Sensorium as expert advisory board member

This token burn is not a first for Sensorium. The company executed a significant burn at the end of 2021, incinerating 1 billion SENSO and leaving the total supply at 700 million tokens.

Earlier this week, Sensorium announced that renowned crypto figure Jay Hao, former OKX CEO, has joined its Expert Advisory Board.

📢 Former OKX CEO Jay Hao Joins Sensorium Expert Advisory Board 🤝

Jay Hao joins a select group of leaders responsible for providing strategic consulting to @SensoriumGalaxy
on matters of importance and will support the management in achieving its strategy.… pic.twitter.com/GW8hDM7bmK

— SENSO Token✨ (@SensoToken) April 27, 2023

Hao's extensive blockchain experience, including his tenure at the world's second largest cryptocurrency exchange, is expected to provide valuable insights for Sensorium as it continues to push boundaries in the rapidly growing Web3 space.