World Mobile – a mobile network built on blockchain technology – said it will launch a token buyback scheme to aid the sustainable growth of its sharing economy. 

The entity’s treasury will purchase its native utility token WMT from the open market and distribute rewards to its ecosystem’s participants.

World Mobile’s Latest Step

According to a press release seen by CryptoPotato, the organization has already executed such a buyback on May 29. The program mainly focuses on leading contributors who have supported the network’s development. 

CEO Micky Watkins said the initiative reaffirms World Mobile’s commitment to token holders and 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,” the executive added.

The network’s primary goal is to establish a sustainable mobile ecosystem where customers can earn revenue and have increased ownership over data and infrastructure. The token buyback program fits into that long-term strategy and is one way to add more value for users. 

It is worth mentioning that WMT has climbed by nearly 5% for the past 24 hours, surpassing $0.10 (per CoinMarketCap data). 

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