What Is Honor World Token (HWT)? 

Blockchain gaming projects like Honor World Token (HWT) are becoming increasingly popular. Honor World is an innovative crypto gaming ecosystem that combines epic, medieval fantasy environments with NFTs and DeFi elements.

Let’s find out all the details about the project and the Honor World Token (HWT). 

How Honor World Token (HWT) Works

Honor World plans to become a crypto gaming ecosystem for developing and launching medieval fantasy-themed blockchain games that utilize in-game transactions, NFTs, and play-to-earn elements.

Players will be able to buy and trade NFT avatars and equipment and participate in different games to unravel epic storylines while battling other heroes and monsters and discovering new lands. 

Honor World uses the Arbitrum blockchain to host their NFTs, the platform’s decentralized app, and all future games. The project has already secured partnerships with multiple reputable crypto companies, such as MetaMask, Dapp Radar, Wombat, and BitKeep.

The project is audited by the famous crypto cybersecurity company Certik, which adds a layer of trust to the project. Additionally, Honor World has partnered with the To Fun NFT marketplace, as well as the NFTB platform.

Honor World players can purchase NFTs either on the Honor World platform or on secondary NFT marketplaces. The main NFT category is hero avatars that players can use to embark on adventures in different Honor World games.

The first Honor World game will be Dragon Treasure. The game will allow players to utilize their Honor World NFTs and earn Honor World Tokens while playing the game. Essentially, Dragon Treasure will use a play-to-earn model that rewards users with crypto for achieving certain in-game accomplishments and passing missions. 

Honor World also has an NFT Farm feature that allows users to stake various cryptocurrencies and earn an annual percentage yield (APY). Also, users can participate in NFT mining which grants them HWT rewards and new NFTs. 

Honor World has an integrated NFT marketplace on the platform and a swapping section where users can exchange their crypto for the platform’s native HWT token and the other way around. 

What Is Honor World Token (HWT) Used For?

HWT is the utility and governance token of the Honor World ecosystem. Users can participate in the governance of the platform by holding HWT. Also, players can earn HWT rewards while playing Honor World games.

Since Honor World is still in its early stages, there aren’t many use cases for HWT yet, but if the developers manage to deliver future milestones, HWT will really have an important function in the ecosystem.

For now, users can bind their HWT tokens to their platform accounts and get Soulbound HWT tokens. This way, they get the right to participate in the governance of the platform and gain access to other functionalities and privileges. 

Furthermore, NFTs can also be soul-bound to receive a special NFT tied to the user’s account. These NFTs can be obtained by completing missions and quests and competing against other players. 

Where to Buy Honor World Token (HWT)?

Honor World is a very young project, and there aren’t many markets where users can buy HWT yet. For now, UniSwap and SushiSwap are the only platforms that support HWT. These two decentralized crypto exchanges (DEXs) allow users to purchase HWT with Wrapped Ethereum (WETH) tokens. 

Since HWT is only available on DEX platforms, you need to connect your crypto wallet to one of these exchanges and obtain some WETH tokens to buy HWT. To do this, first exchange Ethereum (ETH) for WETH tokens based on the Arbitrum network.

You can exchange Ethereum for WETH on UniSwap. Since WETH is compatible with all Ethereum Virtual Machine (EVM) networks, such as Arbitrum, Polygon (MATIC), and Optimism (OP), you’re good to go once you buy WETH on UniSwap.

How Long Has Honor World Token (HWT) Been Around? 

Honor World Token entered the crypto market on December 23, 2022, but the project’s development began in the second quarter of 2022. During the initial stages of the project, the developers created the platform’s design, as well as the NFTs and the Dragon Treasure game design.

What’s Controversial About Honor World Token (HWT)?

There’s no controversy around the Honor World project for now but it remains to be seen whether the game will meet the expectations of its enthusiasts and whether the developers will implement all the elements of the project. 

How Many HWT Coins Are There?

HWT has a maximum supply of one billion tokens. 

Can Honor World Token Be Mined?

Yes, users can mine HWT, but they can’t do it with standard mining hardware, like in the case of Bitcoin (BTC), because HWT doesn’t require huge amounts of energy for mining.

Instead, the HWT tokens are already pre-mined by the developers, but users can unlock these coins over time through the mining function on the Honor World platform by mining them with their NFTs. The mining rewards depend on the rarity of the user’s NFT.

Market Cap and Price History of Honor World Token (HWT)

HWT has a fully diluted market capitalization of 253 million USD, however, there’s no available data on the actual, live market cap.

The initial price of HWT was around 0.26 USD per token, but it reached an all-time high of 0.52 USD two days after the cryptocurrency’s market launch. The token is now trading near its initial price. 

Biggest Competitors of Honor World Token (HWT)

The crypto gaming market is very crowded and there are numerous high-profile crypto games that utilize play-to-earn mechanics and NFTs.

The most famous of these games are Axie Infinity (AXS), Thetan Arena, and Gods Unchained. There are tens of thousands of players that play these games on a day-to-day basis, so it will be extremely difficult for Honor World to compete with them. 

However, we still don’t know exactly what Honor World games will look like. Many crypto games combine fantasy worlds, role-playing games (RPG), and strategy mechanics, so Honor World games would really need to go above and beyond to compete with them.

The team needs to introduce truly innovative features in terms of visuals, gameplay, and NFT utility to stand out among similar projects.

What Does the Honor World Token (HWT) Project Road Map Look Like?

The Honor World developers still have a lot of milestones to deliver according to the project’s roadmap. The next steps of the roadmap indicate that the team is supposed to launch Dragon Treasure and an NFT farming feature.

During the first quarter of 2023, Honor World will launch an NFT park feature for their community as well as their Soulbound platform section. During the second half of 2023, the team promises to deliver new game designs and launch their second game.

Pros and Cons of Honor World Token (HWT)

Pros

• Interesting gaming concept that uses crypto and NFTs to deliver a medieval fantasy experience.
• The team promises to introduce a multitude of games in the Honor World ecosystem.

Cons

• The project is entering a very competitive section of the crypto market.
• HWT is only available on two decentralized exchanges.