BRN Metaverse, a groundbreaking project at the intersection of Artificial Intelligence, Metaverse, and WEB3 Gaming, has made a significant announcement. The project has officially declared a monumental token burn of 90%, setting a historical precedent in the cryptocurrency space. This strategic decision, revealed through the project's official channels, will result in the total token supply plummeting from 254 million to just 30 million.
A Bold Move to Redefine Market Dynamics
With its dedication to redefining market dynamics, BRN Metaverse aims to enhance its value proposition by implementing a bold token burning strategy. The phased approach, starting with the initial burning of 25 million coins on December 7, positions BRN Metaverse as an industry innovator.
The project, which initiated the first burn, will introduce the MEME Token and engage its community through a pre-sale opportunity where participants can burn $brn to participate. Following the MEME Token pre-sale, the project will initiate a second burn, eliminating an additional 199 million tokens, ultimately reducing the total supply to 30 million.
WEB3 Game Closed Betas and Exclusive Access for Token Holders
In addition to the token burn, BRN Metaverse is gearing up to launch closed betas for its WEB3 Games, providing token holders with exclusive access. The closed beta phase offers a unique opportunity for players to participate in events and receive a share of the $10,000 USDT pool for 15 days. Any issues identified during the closed beta will be swiftly addressed within three months, leading to the release of the game to the public with advanced features during the month-long open beta.
Currently, BRN Metaverse is traded on six major exchanges, including Mexc, Gateio, Bitmart, XT, Latoken, and Pancakeswap. With plans to expand its presence in the cryptocurrency landscape, the project aims to further solidify its position as a leading player in the market.
About BRN Metaverse
BRN Metaverse boasts a comprehensive ecosystem that integrates Artificial Intelligence, Metaverse, and WEB3 Games. The project stands out by realizing its initial proposal exclusively through WEB3, showcasing its commitment to cutting-edge technologies.
In October, alongside gaming innovations, BRN Metaverse took the lead in wearable technology development. The project aims to create an immersive gaming experience by introducing XR (Extended Reality) instead of traditional VR. XR wristbands convey in-game activities, while XR glasses designed for real-world use take the gaming experience beyond the virtual realm.
The BRN Metaverse team addresses a significant challenge in the GameFi sector by offering player rewards in USDT, striking a balance between in-game transactions and the token economy. Fifty percent of the revenue generated from in-game sales is allocated to BRN, ensuring a sustainable token value, while the remaining 50% fuels further development within the gaming ecosystem.
Market Metrics After Burn
Maximum Supply: 30,000,000
Total Supply: 30,000,000
Circulation Source: 20,000,000
Market Value: $3,000,000
For more information about BRN Metaverse, you can visit their official website: https://www.brnmetaverse.net/. The project is currently available on the following exchanges: Mexc, Gateio, Bitmart, XT, Latoken, and PancakeSwap. You can also join their Telegram community: https://t.me/BrnTokenGlobal and follow them on Twitter: https://twitter.com/BrnMetaverse. To explore all their social networks, visit: https://linktr.ee/brntoken.
Frequently Asked Questions
Can I buy or sell gold from my self-directed IRA
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. If you have an existing retirement account, you can transfer funds to another one.
The IRS allows individuals to contribute up to $5,500 annually ($6,500 if married and filing jointly) to a traditional IRA. Individuals can contribute as much as $1,000 per year ($2,000 if married filing jointly) to a Roth IRA.
You might want to purchase physical bullion, rather than futures contracts if you are going to invest in gold. Futures contracts are financial instruments based on the price of gold. You can speculate on future prices, but not own the metal. However, physical bullion is real gold or silver bars you can hold in your hands.
How is gold taxed within a Roth IRA
A tax assessment for an investment account will be based on the current market value, and not what you paid initially. All gains, even if you have invested $1,000 in a mutual funds stock, are subject to tax.
But if you put the money into a traditional IRA or 401(k), there's no tax when you withdraw the money. Only earnings from capital gains and dividends are subject to tax. These taxes do not apply to investments that have been held for more than one year.
These accounts are subject to different rules depending on where you live. In Maryland, for example, withdrawals must be made within 60 days of reaching the age of 59 1/2 in order to qualify. Massachusetts allows you up to April 1st. New York has a maximum age limit of 70 1/2. To avoid penalties, you should plan ahead and take distributions as soon as possible.
How Does Gold Perform as an Investment?
The supply and demand for gold affect the price of gold. Interest rates also have an impact on the price of gold.
Because of their limited supply, gold prices can fluctuate. In addition, there is a risk associated with owning physical gold because you have to store it somewhere.
What amount should I invest in my Roth IRA?
Roth IRAs are retirement accounts where you deposit your own money tax-free. These accounts are not allowed to be withdrawn before the age of 59 1/2. However, if you do decide to take out some of your contributions before then, there are specific rules you must follow. First, your principal (the deposit amount originally made) is not transferable. You cannot withdraw more than the original amount you contributed. If you decide to withdraw more money than what you contributed initially, you will need to pay taxes.
The second rule is that your earnings cannot be withheld without income tax. When you withdraw, you will have to pay income tax. Let's assume that you contribute $5,000 each year to your Roth IRA. Let's further assume you earn $10,000 annually after contributing. On the earnings, you would be responsible for $3,500 federal income taxes. You would have $6,500 less. The amount you can withdraw is limited to the original contribution.
So, if you were to take out $4,000 of your earnings, you'd still owe taxes on the remaining $1,500. In addition, 50% of your earnings will be subject to tax again (half of 40%). So, even though you ended up with $7,000 in your Roth IRA, you only got back $4,000.
Two types of Roth IRAs are available: Roth and traditional. Traditional IRAs allow pre-tax contributions to be deducted from your taxable tax income. To withdraw your retirement contribution balance plus interest, your traditional IRA is available to you. You can withdraw as much as you want from a traditional IRA.
Roth IRAs are not allowed to allow you deductions for contributions. However, once you retire, you can withdraw your entire contribution plus accrued interest. There is no minimum withdrawal amount, unlike traditional IRAs. You don't need to wait until your 70 1/2 year old age before you can withdraw your contribution.
What Should Your IRA Include in Precious Metals?
When investing in precious metals, the most important thing to know is that they aren't just for wealthy people. It doesn't matter how rich you are to invest in precious metals. There are many ways to make money on silver and gold investments without spending too much.
You might think about buying physical coins such a bullion bar or round. Also, you could buy shares in companies producing precious metals. Your retirement plan provider may offer an IRA rollingover program.
You'll still get the benefit of precious metals no matter which country you live in. Even though they aren't stocks, they still offer the possibility of long-term growth.
Their prices are more volatile than traditional investments. So, if you decide to sell your investment down the road, you'll likely see more profit than you would with traditional investments.
What is the value of a gold IRA
There are many advantages to a gold IRA. It can be used to diversify portfolios and is an investment vehicle. You decide how much money is put in each account and when it is withdrawn.
You can also rollover funds from other retirement accounts to a gold IRA. This makes for an easy transition if you decide to retire early.
The best thing about investing in gold IRAs is that you don’t need any special skills. These IRAs are available at all banks and brokerage houses. Withdrawals can happen automatically, without any fees or penalties.
There are, however, some drawbacks. Gold is known for being volatile in the past. So it's essential to understand why you're investing in gold. Do you want safety or growth? Is it for security or long-term planning? Only once you know, that will you be able to make an informed decision.
You might want to buy more gold if you intend to keep your gold IRA for a long time. You won't need to buy more than one ounce of gold to cover all your needs. You may need several ounces, depending on what you intend to do with your precious gold.
You don’t necessarily need a lot if you’re looking to sell your gold. You can even live with just one ounce. But, those funds will not allow you to buy anything.
Statistics
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
External Links
investopedia.com
cftc.gov
irs.gov
law.cornell.edu
- 7 U.S. Code SS 7 – Designation of boards of trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement accounts
How To
3 Ways to Invest Gold for Retirement
It's essential to understand how gold fits into your retirement plan. You have many options for investing in gold if there is a 401K account at your workplace. You might also be interested to invest in gold outside the workplace. You could, for example, open a custodial bank account at Fidelity Investments if your IRA (Individual Retirement Account) is open. Or, if you don't already own any precious metals, you may want to consider buying them directly from a reputable dealer.
These are three simple rules to help you make an investment in gold.
- Buy Gold with Cash – Avoid using credit cards or borrowing money to fund investments. Instead, put cash into your accounts. This will help you to protect yourself against inflation while also preserving your purchasing power.
- Physical Gold Coins to Own – Physical gold coin ownership is better than having a paper certificate. Physical gold coins are easier to sell than certificates. Also, there are no storage fees associated with physical gold coins.
- Diversify Your Portfolio. Never place all your eggs in the same basket. In other words, spread your wealth around by investing in different assets. This can reduce market volatility and help you be more flexible.
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By: Media
Title: BRN Metaverse Performs Unprecedented 90% Token Burn, Paving the Way for a New Era in Cryptocurrency
Sourced From: news.bitcoin.com/brn-metaverse-performs-unprecedented-90-token-burn-paving-the-way-for-a-new-era-in-cryptocurrency/
Published Date: Tue, 05 Dec 2023 16:15:14 +0000
