🎮 New Level 3 Gaming Network Arbitrum Xai Launches XAI Token

🌐 This morning marked the first major gaming token giveaway in 2024 as the gaming network Xai distributed its XAI token to eligible users.

📊 According to the Xai Foundation, it is offering 125 million XAI tokens (or 5% of the total) to eligible users, including owners of specific Xai NFTs and those managing Sentry Nodes or validators that help maintain the network.

💲 XAI debuted at just under $0.68 early Tuesday morning, according to CoinGecko, and rose to a high above $0.77, then dropped to the current price of $0.57. As of writing, XAI's daily decline was 15%, which is 20% below the peak price.

💸 Airdropped tokens are known to be volatile from the start, but even in this case, the total value of the giveaway currently stands at almost $70 million. At the time of writing, the market capitalization is just over $154 million USD, with over 277 million tokens in circulation, including those received through the airdrop.

💼 Sentry Node operators and some NFT owners can claim XAI tokens worth several hundred dollars. Node operators, for example, can claim 1658 XAI for each owned key — nearly $925 at the current price. Vanguard NFT owners can claim 1307 XAI, or about $730 USD, and Legendary NFT owners can claim 290 XAI ( $162).

🎁 The Xai Foundation announced the “2nd season” of token rewards for users but has not yet specified how network users can potentially earn additional rewards. Some owners of lower-tier Xai NFTs than “Vanguard” or “Legendary” complained on social media that they were not included in this initial distribution.

🕹️ The Xai network was developed by the Xai Foundation in collaboration with Arbitrum Offchain Labs creator and game studio Ex Populus.

🎮 The first games for Xai are being developed by Ex Populus, including Final Form, a deck-building card game with elements of automatic combat. Another game from the studio is LAMO, an online world where cartoon characters battle.