Script Network has announced plans to burn 72 million SCPT tokens over the next three years, aiming to reduce circulating supply and enhance the token’s utility.
The first burn, set for January 1, 2025, will initiate quarterly burns of three million tokens, totalling 72 million by the end of 2027.
To ensure transparency, Script Network will introduce a ‘burn page’ in its official documentation, providing transaction identifications for on-chain verification.
Major milestones
The token burn follows a year of notable developments, including:
- 120 million minutes watched on the Script.tv platform, highlighting strong user engagement.
- Recognition as the most utilised entertainment and gaming platform in web3.
- Development of an advertising protocol supporting monetisation for creators and advertisers.
- Accessibility on 400 million+ devices globally, showcasing platform scalability.
- An ecosystem of 25+ companies, eight of which actively leverage Script Network infrastructure.
Why Token Burns Matter
Reducing supply through burns enhances scarcity while boosting the token’s long-term value potential.
This strategy aligns with Script Network’s focus on sustainable growth and reinforces SCPT as a central component of its ecosystem.
AI Integration and Future Utility
Script Network plans to integrate artificial intelligence-powered video solutions and large language models (LLMs) into its platform.
These technologies will require SCPT tokens for access, adding new utility and contributing to future burns.
Additional details on AI and LLM integration will be announced in early 2025.
For more information about the token burn program, visit Script.tv or refer to the upcoming burn page in January 2025.