According to MEET48’s official announcement, the Web3 entertainment platform completed a token burn and repurchase to reduce circulation, boost value, and enhance transparency through disclosed blockchain addresses.
MEET48 officially announced the burn of 23.47 million IDOL tokens, representing 0.489% of the total supply, alongside a buyback of 169.92 million tokens, or 3.54% of supply. The company stated that the initiative is designed to reduce token circulation, strengthen value, and enhance community power. Blockchain addresses were shared to ensure transparency. The platform positions itself as a Web3 entertainment pioneer leveraging blockchain and AI technologies.