Pixelverse Launches PIXFI Token with 30% Community Airdrop: Price Soars

TLDR

• Pixelverse, a crypto gaming platform on The Open Network (TON), launched its native token PIXFI.
• The token rose nearly 50% in value shortly after launch before pulling back.
• Pixelverse is airdropping 30% of PIXFI’s total supply to community members.
• 10% was airdropped to holders of Rare, Epic, and Legendary NFT collections.
• Another 20% will be distributed to Pixelverse and Pixelchain users over time.
• The airdrop has a unique vesting mechanism to encourage long-term engagement.

Pixelverse, a popular crypto gaming platform on The Open Network (TON), has launched its native token PIXFI with a unique airdrop strategy designed to reward long-term community engagement.

The launch, which took place on July 18, 2024, saw the token’s value rise by nearly 50% in its first hours of trading before experiencing a pullback later in the day.

✨ 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

The PIXFI token, which has a total supply of 5 billion, is now listed on several major centralized exchanges, including Bybit, HTX, Gate, Bitget, and MEXC.

According to data from CoinMarketCap, the token briefly approached a fully-diluted market capitalization of $200 million shortly after its debut.

What sets the PIXFI launch apart is its innovative approach to token distribution. Pixelverse is airdropping a total of 30% of PIXFI’s total supply to community members.

The first phase of this distribution saw 10% of the tokens airdropped to holders of Pixelverse’s Rare, Epic, and Legendary non-fungible token (NFT) collections

. An additional 20% of the token supply will be distributed over time to users who actively engage with Pixelverse and Pixelchain, the studio’s Layer 2 blockchain solution.

To participate in the airdrop, users must have been registered with PixelTap or the Pixelverse Dashboard before July 18, 2024, at 00:00 UTC. Starting July 25 at 12:00 UTC, eligible users will have one week to claim their exclusive NFTs, which act as keys to unlocking various tiers of the airdrop. The rarity of these NFTs determines the amount of PIXFI tokens received.

Pixelverse has implemented a unique vesting mechanism to discourage short-term speculation and ensure long-term commitment from token holders. Users who claim their airdropped tokens can immediately withdraw only 10% of their allocation. The remaining 90% requires continued participation within the Pixelverse ecosystem through gameplay and interaction with Pixelchain.

This approach mirrors the “battle pass” system common in traditional web2 games, rewarding active users with progressively more tokens. As Pixelverse explained in its airdrop documentation, “The more you utilize Pixelverse products, the more PIXFI tokens you will be able to withdraw.”

The strategy aims to address issues that have plagued previous crypto airdrops, where tokens are often immediately sold off, leading to price crashes and community dissatisfaction.

By incentivizing long-term engagement, Pixelverse hopes to build a more sustainable and active community around its PIXFI token and Pixelchain network.

Pixelverse’s success is largely attributed to its hit Telegram game, PixelTap, a cyberpunk-themed minigame that reportedly attracted 50 million new users in June alone.

The game is part of the emerging “Tap-to-Earn” social gaming phenomenon, which rewards players for regular engagements.

Looking ahead, Pixelverse has announced plans to deploy Pixelchain, a dedicated layer-2 scaling network on top of TON with Ethereum Virtual Machine (EVM) compatibility.

The Pixelchain testnet is set to launch next week, with Pixelverse describing it as the first EVM chain to launch on TON. This development is expected to further expand the Pixelverse ecosystem and provide new opportunities for PIXFI token utility.