$XP
The Forgotten Runes Coin
$XP is the official fungible token of Forgotten Runes, announced by Magic Machine on Dec. 4, 2024 during Wizard Wednesday. The coin's launch is in partnership with the mysterious Arcane Foundation.
Preceding the announcement on X (Twitter) Spaces, the official Forgotten Runes account reposted the Arcane Foundation's sole post with the tagline, "Level Up With $XP".
In a repost of the Arcane Foundation's teaser, Elf quipped that the token looked like "Red Hat mischief." However, the coin and the Arcane Foundation bear the emblem of the Illuminatus—the Eye of Providence.
The Ticker, $XP
During the Wizard Wednesday meeting, Elf spoke about the concept of "Leveling Up" in conjunction with the token's tagline, noting that anyone who grew up with role playing games should be familiar with the ticker, $XP.
Elf said:
"What we’ve always loved about NFTs is that unlike standard crypto tokens, you—the owner of the NFT—has the power to build them up, to make them more than what they were. This journey of self improvement has been an ongoing quest in our community."
Tokenomics
The team was frugal with tokenomic detail during the coin's announcement, but noted their excitement for this partnership, which Bearsnake estimated was in the works for 9 months prior.