YEREVAN (CoinChapter.com) — Nifty Island recently launched its ISLAND token, a native ERC-20 token on the Ethereum blockchain. This utility token powers the platform’s in-game economy, providing users with various benefits. With a total supply of 1 billion tokens, ISLAND integrates LayerZero technology for compatibility with Layer 2 networks like Base and, eventually, Solana.

Nifty Island Metaverse Gameplay Characters. Source: Nifty Island WEB

The token launch on Dec. 17 saw its supply allocated across five key participant groups. The community received the largest share, with 38.6% of tokens distributed as rewards, incentives, and airdrop allocations. The play-to-airdrop campaign, which ran for nine months, distributed 12.6% of tokens based on gameplay engagement and collector tiers, finalized through a snapshot on Dec. 16.

Nifty Island Token Launch Announcement. Source: Nifty Island on x

Additionally, a rewards pool of 17.5% of tokens was created for future in-game earnings, while 8.5% was reserved to attract developers and creators. Animoca Brands’ Mocaverse community received 10 million tokens during the launch to support ecosystem development. Investors and advisors were allocated 300 million tokens, with multi-year lock-up periods. The Nifty Island team holds 19.5% of tokens, also locked to ensure long-term alignment.

How to Claim Your ISLAND Tokens

Eligible users can claim ISLAND tokens through the Nifty Island website. Participants in the play-to-airdrop campaign were rewarded for accumulating in-game points and holding eligible partner NFTs. The tokens are accessible to all qualifying users, reflecting their contributions to the platform.

Play-to-Airdrop Ends, ISLAND Token Incoming. Source: Nifty Island What Can You Do with ISLAND Tokens?

The ISLAND token offers extensive utility to enhance player experiences. By staking ISLAND, players can earn higher in-game rewards, unlocking additional tokens faster. Staking also grants access to larger, more immersive in-game islands and consumables that improve gameplay.

Stakers are eligible for exclusive prizes, including bonuses from Nifty Island’s partners. Moreover, staking provides governance rights, enabling users to vote on decisions that shape the platform’s future. Voting power is proportional to the number of staked tokens, ensuring an equitable system.

Tokenomics and Future Development

The ISLAND token’s comprehensive tokenomics support sustainable growth within the Nifty Island ecosystem. The treasury holds 9.2% of the supply, reserved for project expansion and operational needs. An additional 2.5% of tokens ensures liquidity on centralized exchanges, increased from the initial 1% allocation.

FAQs on Nifty Island’s ISLAND Token

1. What is the ISLAND token?ISLAND is an ERC-20 token on the Ethereum blockchain. It powers Nifty Island’s in-game economy.

2. When did the ISLAND token launch?The ISLAND token launched on Dec. 17, 2024.

3. Who received the ISLAND airdrop?The community, play-to-airdrop participants, and developers received tokens. A snapshot on Dec. 16 determined eligibility.

4. How can I claim ISLAND tokens?You can claim ISLAND tokens on the official Nifty Island website.

5. What can I do with ISLAND tokens?You can stake ISLAND to earn rewards, unlock platform features, and vote on governance decisions.

6. How many ISLAND tokens exist?The total supply is 1 billion tokens.

7. What networks will ISLAND support?ISLAND will integrate with Base and later Solana using LayerZero technology.

8. What is the purpose of staking ISLAND?Staking boosts rewards, expands in-game resources, and grants governance rights.

9. How was the ISLAND token distributed?The largest share, 38.6%, went to the community. Investors, rewards pools, and developers received the rest.

10. Where can I learn more about ISLAND?Visit the Nifty Island website for more updates and information.