Script Network Announces 72 Million SCPT Burn Program to Mark Key Milestones and Strengthen Ecosystem

21 Nov 202406:05 UTC

CAMBRIDGESHIRE, United Kingdom, Nov. 21, 2024 (GLOBE NEWSWIRE) — Script Network, the pioneering blockchain platform revolutionizing video and entertainment, has unveiled an ambitious SCPT token burn program, committing to remove 72 million SCPT tokens from circulation over the next two years. This initiative underscores the platform's off-chain success, the growing adoption of its infrastructure, and its commitment to sustainable long-term value for its community and stakeholders.

A Milestone Worth Celebrating

This announcement follows a year of exceptional achievements that have firmly established Script Network as the leading entertainment and gaming platform in Web3. Key milestones include:

Over 120,000,000 minutes watched on the Script.tv platform, reflecting strong user engagement.
Officially the most utilized entertainment or gaming platform in Web3, setting new industry standards.
Successful buildout of an advertising protocol, enabling monetization for creators and advertisers.
Accessibility on over 400,000,000 devices worldwide, showcasing unparalleled scalability.
A growing ecosystem of 25+ companies, with 8 actively leveraging Script Network infrastructure and APIs.

These accomplishments highlight Script Network’s leadership and its rapid adoption across the Web3 entertainment landscape.

The Burn Plan in Detail

The SCPT burn program will remove 3 million tokens every quarter over three years, totaling 72 million tokens by the end of 2027. The first burn will take place on January 1, 2025, with subsequent burns occurring quarterly.

To ensure transparency, Script Network will launch a dedicated 'burn page' in its official documentation, providing transaction IDs (TX IDs) for each burn to enable on-chain verification.

Why Token Burns Matter

Token burns reduce the circulating supply of a cryptocurrency, enhancing scarcity and potentially increasing long-term value. By committing to this deflationary strategy, Script Network reinforces the importance of SCPT as a central component of its ecosystem while aligning incentives with the interests of its holders.

This initiative also underscores Script Network's focus on sustainable growth as it continues to scale its platform and services.

Looking Ahead: SCPT’s Role in AI and LLMs

As part of its roadmap, Script Network is integrating AI-powered video solutions and Large Language Models (LLMs)into its offerings. These technologies will add new utilities for SCPT, as users will need the token to access AI-driven tools and services. This will contribute to further token burns, strengthening its deflationary model.

Details about SCPT’s integration with AI and LLM products will be announced in the next two months, reinforcing Script Network’s commitment to innovation.

Commitment to a Deflationary Future

Script Network’s burn program showcases its dedication to a robust, transparent, and value-driven ecosystem. By reducing supply, enhancing utility, and prioritizing transparency, Script Network ensures SCPT remains a vital asset in its long-term vision.

The burn initiative marks a new chapter for Script Network, offering SCPT holders confidence in the token’s importance and utility as the ecosystem grows.

For more details about the burn program and Script Network’s roadmap, visit Script.tv or access the burn page in the official documentation starting January 2025.

About Script Network

Script Network is a blockchain-powered ecosystem transforming the entertainment industry. By combining decentralized technology with AI and LLM innovation, Script Network provides cutting-edge infrastructure solutions for video, media, and beyond, enabling creators, enterprises, and users to thrive in the Web3 era.

Media Contact

Akeem

info@script.tv

Disclaimer: This content is provided by Script Network. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Script Network Announces 72 Million SCPT Burn Program to Mark Key Milestones and Strengthen Ecosystem