To encourage the enduring expansion of its sharing economy, World Mobile has announced the official launch of a token buyback program. World Mobile’s treasury will acquire its native utility token, World Mobile Token (WMT), on the open market as part of the token repurchase program. On May 29, the first repurchase took place.
The World Mobile sharing economy participants who have helped create and implement its cutting-edge mobile solutions will accrue incentives via the token buyback program. Following the start of commercial services in the Eastern African nation earlier this year, the token purchases are funded by earnings from its network operations.
World Mobile CEO Micky Watkins said: “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..”
The goal of World Mobile is to build a mobile ecosystem that is more equitable, sustainable and gives consumers greater control over their data and network infrastructure. The token repurchase program is a component of World Mobile’s long-term plan to realize this ambition and provide value for its customers and sharing economy players.
As additional revenue is created after client onboarding, buybacks are anticipated to rise in value and frequency as World Mobile plans expansion throughout Africa, Asia, and the US.