What is Rich Hens? Recent News, Fundraising and Token

Key Takeaways

• Rich Hens is a Web3 play-to-earn game featuring NFT hens that generate tokens through gameplay mechanics, built on the Binance Smart Chain.
• The project includes two tokens: $HEG for governance and $HEN as a utility token for in-game activities.
• It emphasizes user ownership of assets with the team taking only small commissions, aiming for long-term ecosystem growth.

What is Rich Hens?

Rich Hens is an innovative Web3 game based on a "play to earn" business model, introducing its own "Act to earn" concept. The game allows users to own NFT hens that lay golden eggs, which can be collected to earn $HEN tokens. All in-game assets belong to users, with the team earning small commissions from NFT sales, breeding, and other activities. The project operates on the Binance Smart Chain and focuses on building trust through strategic management and new ecosystem features, as detailed in its official whitepaper at whitepaper.richhens.com.

How Does Rich Hens Work?

In Rich Hens, players acquire NFT hens that produce golden eggs, which are collected to earn $HEN tokens. The game incorporates GameFi elements where users can breed chickens, upgrade attributes, and trade NFTs. Tokenomics ensure that the majority of income goes to users, with mechanisms like token burning during activities such as feeding or minting NFTs to maintain supply balance.

The project's two tokens support operations: $HEG enables governance and is used for marketing, development, and staking, while $HEN is a rebase utility token with elastic supply to stabilize its price. Minting and burning of $HEN are managed through community voting, and price stability is supported by buybacks, as explained in the tokenomics section of the whitepaper.

What Makes Rich Hens Unique?

• Introduces an "Act to earn" concept within a play-to-earn framework, emphasizing active user participation for rewards, as highlighted in the project's overview.
• Features user-owned assets with minimal team commissions, promoting a player-centric economy unlike traditional games where developers retain full control.
• Utilizes a dual-token system with $HEG for governance and $HEN as a rebase token for price stability, supported by burning mechanisms during gameplay.

Rich Hens Native Token

Rich Hens has two native tokens on the Binance Smart Chain (BEP-20): $HEG is the governance token with a total supply of 3,000,000,000, used for project management, marketing, development, trading, staking, and ecosystem support. $HEN is a rebase utility token with an elastic supply capped at 5 billion, used for in-game rewards and balanced through burning during activities like feeding chickens or minting NFTs to maintain price stability.

TGE Information

The project conducted a presale for the $HEN token, with the first stage announced in late 2022, following the creation of the website, app, and initial NFT collection. The presale integrated BNB and aimed to fund further development.

Recent News & Fundraising

• In 2023, Rich Hens launched an airdrop program distributing 150,000,000 $HEN tokens worth approximately $500,000 to participants.
• The project completed alpha testing of its app and integrated BNB for transactions during the presale phase in 2022.
• Token details and market data are tracked on platforms like CoinCarp and BscScan, showing $HEN's total supply of 300,000,000 and holder information.