TLDR
- Pixelverse launched its PIXFI token on The Open Network (TON), with the price rising nearly 50% in the first hours after the airdrop.
- The project airdropped 10% of PIXFI’s total supply to holders of its Rare, Epic, and Legendary NFT collections.
- PixelTap players will be able to claim an NFT starting July 25, with some getting PIXFI tokens based on their NFT rarity.
- Pixelverse plans to launch Pixelchain, a layer-2 scaling network on TON with Ethereum compatibility.
- The PIXFI airdrop has measures to avoid sharp selloffs, including automatic staking and withdrawal penalties.
Pixelverse, a popular crypto gaming platform, has made waves in the blockchain world with the launch of its PIXFI token on The Open Network (TON).
The token’s debut on July 18, 2024, saw its value climb by nearly 50% in the first few hours of trading.
PIXFI has a total supply of 5 billion tokens, with about 13.6% currently in circulation. This gives the token a market cap of around $17 million.
The launch day saw high trading volumes, reaching about $26 million.
✨ Pixelverse Airdrop: Rewarding True Community Members with PIXFI Tokens
The upcoming TGE and airdrop are set to be one of the largest ever. That's why Pixelverse is redefining airdrop distribution to ensure fairness for the Pixelverse community.
Key Points
All users to… pic.twitter.com/v5TbxU43F1
— Pixelverse (@pixelverse_xyz) July 18, 2024
As part of the launch, Pixelverse airdropped 10% of PIXFI’s total supply to holders of its Rare, Epic, and Legendary non-fungible token (NFT) collections.
The project plans to distribute another 20% of its tokens to Pixelverse and Pixelchain users over time.
To prevent the sharp selloffs that often follow free token distributions, Pixelverse has put some unique measures in place.
Airdropped tokens are automatically “staked” for additional rewards, and withdrawing the tokens immediately comes with a 90% penalty.
The PIXFI token is now available on several major cryptocurrency exchanges, including Bybit, HTX, Gate, Bitget, and MEXC.
Pixelverse is best known for PixelTap, a popular game on the Telegram messaging app. PixelTap is a cyberpunk-themed minigame that reportedly brought in 50 million new users in June alone.
The game is part of the “Tap-to-Earn” trend, which rewards players for regular engagement.
Looking ahead, Pixelverse has announced plans for an NFT airdrop to PixelTap players. Starting July 25, players will be able to claim an NFT, with the rarity level depending on their in-game level. Players who receive Rare, Epic, or Legendary NFTs will also be eligible for PIXFI tokens.
However, there’s a catch to claiming these tokens. Users who choose to claim their PIXFI immediately will only receive 10% of their allotted tokens.
The remaining 90% will go into a community incentives pool. Players can earn more of their allotment by continuing to play PixelTap or use the Pixelverse dashboard.
Pixelverse isn’t stopping with the token and NFT launches. The project has revealed plans to create Pixelchain, a layer-2 scaling network built on top of TON.
This network will be compatible with the Ethereum Virtual Machine (EVM), allowing Ethereum-based applications to work within the TON ecosystem. The Pixelchain testnet is set to launch soon, with Pixelverse describing it as the first EVM chain to launch on TON.
These developments come as TON, the blockchain closely tied to Telegram, continues to grow. Recently, TON announced plans for its own layer-2 scaling solution in partnership with Polygon Labs, aiming to connect the TON ecosystem with Ethereum.
