- Pixelverse is distributing 30% of its total token supply to gamers as rewards.
- The token is gaining popularity, but its long-term impact will heavily rely on sentiment and engagement.
PIXFI, the native token of Pixelverse, a non-fungible token (NFT) and game ecosystem on The Open Network (TON), was launched on July 18th. The token has surged by nearly 360% in the past day, indicating potential for further growth.
PixelTap, a viral Telegram game by Pixelverse that debuted in March 2024, reportedly attracted 50 million users to its player base in June.
The community and players of PixelTap and Dashboard are being rewarded with NFTs of varying rarity based on their level and quest completion.
Is the gaming ecosystem airdrop a game-changer?
In a post on X (formerly Twitter), Pixelverse announced that Pixeltap and Dashboard users will receive NFTs on July 18th based on their engagement levels. These NFTs can be claimed on July 25th at 12:00 UTC.
Holders of rare, epic, or legendary NFTs will receive an airdrop equivalent to 10% of the total PIXFI supply as an early support reward. An additional 20% will be given to users to promote the use of Pixelchain, the EVM-compatible Layer-2 for the TON blockchain.
The airdrop documentation highlighted the evolution of airdrops in the crypto space and their impact on token prices.
What comes after the airdrop?
With a market capitalization of $355.7 million, PIXFI is listed on various centralized exchanges such as Bybit, HTX, Gate.io, and Bitget. Pixelverse secured $5.5 million in funding in May to expand its gaming ecosystem.
Source: PIXFI/USDT on TradingView
Short-term technical analysis suggests that prices could rise further, depending on social media buzz and demand. Selling pressure may increase after July 25th when tokens become claimable.
Realistic or not, here’s PIXFI’s market cap in BTC’s terms
The utility of the token and the popularity of PixelTap will play a crucial role in determining PIXFI’s future price movements. Market sentiment could also shift based on Bitcoin’s price fluctuations.