Animoca Brands to Buy Back TOWER Token, Boost Ecosystem
Animoca Brands has unveiled its first open-market buyback of TOWER token to reinforce the Tower Ecosystem and signal long-term commitment to Web3 gaming. Announced by Chairman Yat Siu on X, the program aims to reduce circulating supply, boost user confidence, and reinvest in marketing, community initiatives, and in-game economies.
Following the announcement, the TOWER token price jumped over 60% in one day to $0.0007679, reflecting strong market support. The buyback, launched without special investor allocations, underscores Animoca’s strategy to build sustainable on-chain economies through Free-to-Play and Play-to-Earn mechanics.
This initiative follows an earlier buyback of CTA token and sets a precedent for other Web3 gaming projects. Traders should watch TOWER token liquidity and demand as buyback announcements often drive short-term price rallies and signal long-term ecosystem growth.
Bullish
The TOWER token buyback announcement triggered a significant 60% price increase, demonstrating strong trader confidence. In the short term, the reduced circulating supply and reinvestment in marketing and community initiatives could drive further demand and volatility. Over the long term, Animoca Brands’ ongoing commitment to the Tower Ecosystem and precedent set by prior CTA token buybacks may strengthen fundamentals, supporting sustainable price growth within the Web3 gaming sector.