Pixelverse, the NFT and gaming platform on The Open Network (TON), has launched its native token, PIXFI, in a highly anticipated airdrop on July 18. The token saw a remarkable rise, trading up nearly 50% in the first few hours after listing, and reached a market capitalization of approximately $200 million before pulling back later in the day, according to CoinMarketCap.
A Successful Launch and Immediate Impact
Pixelverse airdropped 10% of PIXFI’s total supply to holders of its Rare, Epic, and Legendary NFT collections. This move was announced on Pixelverse’s X platform (formerly Twitter). The PIXFI token is now available on several centralized exchanges, including Bybit, HTX, Gate, Bitget, and MEXC, further enhancing its accessibility and trading volume.
Strategic Airdrop Design
The airdrop was meticulously planned to avoid the common pitfalls of sharp selloffs that typically follow free token distributions. Pixelverse implemented a staking mechanism where airdropped tokens are automatically staked for additional rewards. Withdrawing the tokens immediately incurs a 90% penalty, thereby encouraging long-term holding and reducing the likelihood of market dumps.
Pixelverse addressed the challenges of early airdrops in its documentation, noting the shift from rewarding genuine users to issues with farming and sybil attacks. This new approach aims to maintain community trust and stabilize token prices.
Pixelverse: The Powerhouse Behind PixelTap
Pixelverse is renowned for its hit Telegram game, PixelTap, a cyberpunk-themed minigame that attracted 50 million new users in June alone. The game is part of the Web3 gaming revolution, offering “Tap-to-Earn” social gaming experiences that reward players for regular engagement. Players use in-game characters modeled after popular memes, such as Doge from the Dogecoin memecoin, participating in millions of daily battles.
In a recent announcement on July 16, Pixelverse revealed the introduction of “Pudgy,” a character from the popular NFT collection Pudgy Penguins, into the PixelTap game, further expanding its vibrant ecosystem.
Continued Growth and Future Plans
Pixelverse plans to distribute another 20% of its PIXFI tokens to Pixelverse and Pixelchain users over time, ensuring a steady flow of rewards and incentives for its growing community.
The platform’s success is backed by substantial funding, having closed a $5.5 million round in May, led by Delphi Ventures, Merit Circle, and Mechanism Capital. This financial support underscores the confidence investors have in Pixelverse’s vision and its innovative approach to integrating NFTs and gaming on the blockchain.
FAQ's
What is the PIXFI token?
The PIXFI token is the native token of Pixelverse, an NFT and gaming platform on The Open Network (TON).
How did the PIXFI token perform post-airdrop?
Where can I trade PIXFI tokens?
How does Pixelverse's airdrop mechanism work?
What is PixelTap?
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