Pixelverse, an NFT and gaming platform on The Open Network (TON), launched its native token, PIXFI, via an airdrop on July 18.
The token's value surged nearly 50% in the initial trading hours, reaching a fully diluted market cap of approximately $200 million before stabilising.
PIXFI is now available on several centralised exchanges, including Bybit, HTX, Gate, Bitget, and MEXC.
10% of PIXFI's total supply 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 aims to avoid the sharp selloffs typical of free token distributions.
Airdropped tokens are staked for additional rewards, and withdrawing them immediately incurs a 90% penalty.
Despite early concerns, the innovative staking mechanism and broad distribution have helped maintain the token's value.
This approach rewards genuine user engagement, reducing the risk of farming and sybil attacks that often plague airdrop events.
Pixelverse is known for the popular Telegram game PixelTap, which attracted 50 million new users in June.
The platform operates on TON, a blockchain originally developed by the Telegram team and now managed by the TON Foundation.
Pixelverse plans to integrate more characters and features into PixelTap, including "Pudgy" from the Pudgy Penguins NFT collection.
Additionally, the platform will introduce a new layer-2 scaling network called Pixelchain, compatible with the Ethereum Virtual Machine (EVM).
Engagement Rewards
Players can earn PIXFI tokens by engaging with PixelTap and using the Pixelverse dashboard. This system mimics battle passes in Web2 games, rewarding users for their activity.
Pixelverse continues to build within the TON ecosystem. Pixelchain, the first EVM-compatible chain on TON, is set to launch its testnet next week, paving the way for new games and apps under the Pixelverse brand.
Pixelverse is launching the "Black Puma" NFT collection on the TON blockchain, featuring unique bot avatars with special skills and rewards. Early adopters and those completing tasks in the Pixelverse Dashboard and PixelTap have a higher chance of obtaining rare Black Puma bots.
WeatherlyThe enraged crypto community rejoiced, as they received justice after the Twitter account of Pixelverse was suspended. Pixelverse, a budding member of Play to earn crypto project, was temporarily cancelled following disappointing conditions given to the community for its crypto airdrop claims.
XingChiPixelverse is an innovative, quest-based battler set in a vibrant cyberpunk pixelated universe. Players step into the game as freelancers, engaging in quests, PvE battles, crafting and upgrading bots, and facing off against other players in the arena.
Wilfred
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