World Mobile has announced the launch of a token buyback program to support the sustainable growth of its sharing economy. The token buyback program will see World Mobile’s treasury purchase its native utility token, World Mobile Token (WMT), from the open market. The first buyback occurred on May 29.
The token buyback program will accumulate rewards for participants in the World Mobile sharing economy who have contributed to the development and adoption of its innovative mobile solutions. The token purchases are made using revenue from its network operations following the launch of commercial services in the East African country earlier this year.
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.”
World Mobile’s vision is to create a more inclusive and sustainable mobile ecosystem, where users can earn revenue and have more ownership over network infrastructure and data. The token buyback program is part of World Mobile’s long-term strategy to achieve this vision and create more value for its users and participants in its sharing economy.
With World Mobile planning expansion across Africa, Asia, and the US, buybacks are expected to increase in both value and frequency as more revenue is generated following customer onboarding.
About World Mobile
World Mobile was founded with a far-reaching goal: to connect everyone, everywhere while advocating for economic freedom and dignity. Unlike traditional mobile networks, World Mobile is based on blockchain and incentivizes people to be part of a sharing economy that taps into the trillion dollar global telecom market. Individuals and business owners around the world can operate nodes on its network and bring their community online while earning revenue.
Learn more: https://worldmobile.io/