AI-powered social gaming metaverse Ultiverse has officially launched their staking feature in beta, allowing holders of the recently-launched $ULTI token to stake their holdings in order to gain various benefits.

Why Stake $ULTI?

By staking the $ULTI token, users are able to unlock access to the revenue distribution system of the Binance Labs and Sequoia-backed platform. It is also mentioned that stakers may also gain “tokens from CP partners” as well as mysterious Points for which no details are available at the time of writing. Next to all this, the official tweet containing the link to the staking page also teases that more perks and partners will be announced soon.

Since then, they have indeed revealed another perk: access to the launchpools of CP partners, with the first launchpool announced so far being from Blast Auto Club, labeled as “the first Web3 game on Blast.” This partnership meant that the project joined the new staking platform, rewarding users who stake $ULTI and $BACGAMES with exclusive BAC treasure boxes. The amount of valid $BACGAMES you can stake to earn treasure boxes depends on the amount of $ULTI staked. This means that if you stake 10 $ULTI, only 1 $BACGAMES token will be eligible to generate the special rewards, so if you stake 10 $BACGAMES but have only 10 $ULTI tokens staked, only one $BACGAMES token will actually count. The more valid tokens staked, the faster you can get new treasure boxes.

What else can you do with $ULTI aside from staking? Check out our Ultiverse token launch article to find out more about the multi-utility governance token.