SNEAK PEEK

  • PIXFI token surged nearly 50% post-airdrop, reaching a $200M market cap before a slight pullback.

  • Pixelverse airdropped 10% of PIXFI’s total supply, with automatic staking and withdrawal penalties to prevent selloffs.

  • PIXFI now trades on multiple exchanges; Pixelverse plans additional token distributions to enhance ecosystem stability.

Pixelverse, an NFT and gaming platform on The Open Network (TON), launched its native token, PIXFI, with a remarkable start.  Pixelverse initiated the airdrop by distributing 10% of PIXFI’s total supply to holders of its Rare, Epic, and Legendary NFT collections. 

This strategy was aimed at avoiding the typical sharp selloffs associated with free token distributions. According to Pixelverse’s post on the X platform, airdropped tokens are automatically staked for additional rewards, with a 90% penalty imposed on immediate withdrawals.

$PIXFI Trading is LiveTrade $PIXFI on the following centralised exchanges:Bybit (https://t.co/TBZx9xRWhA)HTX (https://t.co/LvPy8HRkEf)Gate (https://t.co/XCvhH2lUOg)Bitget (https://t.co/H4nN5XVgWu)MEXC (https://t.co/g4PqVnYVL1)Beware of scams and do not interact with any… pic.twitter.com/tVgfS56ZKE

— Pixelverse (@pixelverse_xyz) July 18, 2024

The PIXFI token’s performance was impressive in the initial hours post-airdrop, with its value approaching a fully diluted market capitalization of approximately $200 million before retracting later in the day. PIXFI is now listed on several centralized exchanges, including Bybit, HTX, Gate, Bitget, and MEXC, enhancing its accessibility to a broader audience.

Besides the initial 10% airdrop, Pixelverse has planned to distribute another 20% of its tokens to Pixelverse and Pixelchain users over time. This strategic approach is designed to maintain the token’s stability and encourage long-term engagement within its ecosystem.

Pixelverse Airdrop: Rewarding True Community Members with PIXFI TokensThe 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 PointsAll users to… pic.twitter.com/v5TbxU43F1

— Pixelverse (@pixelverse_xyz) July 18, 2024

Pixelverse is renowned for its popular Telegram game, PixelTap, a cyberpunk-themed minigame that saw an influx of 50 million new users in June alone. This game is part of the broader TON blockchain, a layer-1 network originally developed by the team behind the Telegram messaging app and now managed by the TON Foundation.

The airdrop’s design aimed to curb the adverse effects often seen in token distributions. By implementing a staking mechanism and withdrawal penalties, Pixelverse sought to reward genuine users and prevent farming and sybil attacks, which have plagued other airdrops.

Pixelverse continues to innovate in the Web3 gaming space, introducing characters modeled after iconic memes into its games. On July 16, the platform announced the inclusion of “Pudgy,” a character from the popular NFT collection Pudgy Penguins, into PixelTap. 

In May, Pixelverse secured $5.5 million in funding, led by Delphi Ventures, Merit Circle, and Mechanism Capital. This funding aims to support the continued growth and development of its gaming and NFT ecosystem.

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