Key Takeaways:
- World Mobile has launched a token buyback program to support the sustainable growth of its sharing economy.
- The program aims to accumulate rewards for participants in the World Mobile sharing economy.
- Buybacks are expected to increase in value and frequency as more revenue is generated.
World Mobile, a blockchain-based mobile network, has introduced a token buyback program to bolster the sustainable development of its sharing economy. The program involves the treasury of World Mobile purchasing its native utility token, World Mobile Token (WMT), from the open market. The inaugural buyback took place on May 29, and there are more to come and are expected to increase in value and frequency.
Rewarding Participants and Strengthening the Sharing Economy
The token buyback initiative is designed to reward contributors to the World Mobile sharing economy, particularly those who have played a pivotal role in the adoption and advancement of the platform’s innovative mobile solutions. The program is fueled by revenue generated through World Mobile’s network operations following the successful launch of commercial services earlier in 2023 in an East African country.
World Mobile CEO Micky Watkins emphasized the company’s dedication to token holders and network operators, emphasizing their crucial role in the sharing economy’s success. By repurchasing World Mobile Tokens (WMT) from the open market, the company aims to establish a sustainable ecosystem for all participants, driving mass adoption and fortifying the stability and utility of the World Mobile platform.
“The token buyback program reaffirms our commitment to both our token holders and the network operators who have and will continue to play a crucial role in the success of our sharing economy.
By repurchasing World Mobile Tokens (WMT) from the open market, we aim to build a sustainable sharing economy for all our participants. We believe that by executing on our business model and initiating buybacks from real world revenue is a large step towards mass adoption and strengthens the overall stability and utility of the World Mobile ecosystem.”
— Micky Watkins, World Mobile CEO
Paving the Way for Expansion
World Mobile’s ultimate vision is to create an inclusive and sustainable mobile ecosystem, empowering users with revenue opportunities and greater ownership over network infrastructure and data. The token buyback program aligns with the company’s long-term strategy to realize this vision and provide enhanced value to users and participants in the sharing economy.
As World Mobile plans expansion across Africa, Asia, and the United States, the frequency and value of buybacks are projected to rise in tandem with the increased revenue resulting from customer onboarding.
Wrapping up
The token buyback program is not only a way to reward the current participants in the World Mobile sharing economy, but also a catalyst for future growth and expansion. World Mobile has ambitious plans to bring its innovative mobile solutions to more regions in Africa, Asia, and the US, where millions of people still lack access to affordable and reliable connectivity. As more customers join the network and generate more revenue, World Mobile will increase the value and frequency of its token buybacks, creating a positive feedback loop that benefits all stakeholders.
