$ELO is the main currency which power all the transactions on the Elova app. Beforewe get to exact utility of $ELO, let's define actors in the ecosystem and their respective actions.
Actors: Fans - Partners - Platform
Partners (Production Houses & Artists)
While the above ones are the broad actions which could undertaken by each of the actors in the ecosystem, let's now discuss the specific applications of $ELO. This list is by no means an exhaustive one, but merely an indicative list.
Passport NFTs: Fans will purchase these passport NFTs through the $ELO tokens. Users will have to own $ELO tokens along with the partner specific NFTs to avail following offerings
Voting rights - both binding & non-binding polls
Offline events: Owners of the passport NFTs could purchase VIP passes using the $ELO tokens
Different types of promotional events across geographies
Online events: Owners of the passport NFTs could book spots for the AMA like sessions using the $ELO tokens
Collectible NFTs: Purchase of the collectible NFTs happens via $ELO tokens. Here are the different types of collectible NFTs
Behind the scenes collection
Art work - Posters, memorabilia
Games on the app: Entry fee and the rewards from these games in the form of $ELO