- Pixelverse rewards gamers with 30% of the total token supply.
- The token’s popularity is reportedly increasing, but its long-term impact is highly dependent on sentiment and engagement.
Pixelvers [PIXFI]a non-fungible token (NFT) and gaming ecosystem on The Open Network [TON] launched its native token PIXFI on July 18. PIXFI is up nearly 360% in the past day, with more likely to come.
PixelTap from Pixelverse is the viral Telegram game that launched in March 2024 Reportedly added 50 million users to its player base in June.
The airdrop rewards the community and players with NFTs of varying rarity based on their level and quest completion for Pixeltap and Dashboard players.
Is this gaming ecosystem a breath of fresh air?
In a post on X (formerly Twitter)Pixelverse announced that Pixeltap and Dashboard users will receive NFTs on July 18 based on their engagement levels.
These NFTs will become due one week later, on July 25, 12:00 UTC.
Holders of Rare, Epic, or Legendary NFTs will immediately receive an airdrop worth 10% of PIXFI’s total supply as a reward for their early support.
An additional 20% will be rewarded to users to encourage the use of Pixelchain, the EVM-compatible Layer-2 for the TON blockchain.
The documentation of airdrops revealed,
“While early airdrops were seen as a way to reward real users and were welcomed by the community, farming and sybil attacks have since become prevalent among diligent users, and airdrops today usually trigger community outrage and negative price promotions on tokens.”
This drew inspiration from the concept of battle passes and traditional venture capital earning provisions, she added.
What happens after the air drop?
With a market capitalization of $355.7 million, PIXFI is mentioned on various centralized exchanges such as Bybit, HTX, Gate.io and Bitget. Pixelverse closed one financing round in May with $5.5 million raised to fund the gaming ecosystem.
Source: PIXFI/USDT on TradingView
The short-term technical analysis shows that prices could be much higher. It depends on the social media hype and subsequent demand. There could be an influx of selling pressure after July 25, when the tokens can be claimed.
Realistic or not, here is the market cap of PIXFI in terms of BTC
The usefulness of the token and the popularity of the Telegram game PixelTap are key factors. They would determine whether PIXFI will have a sustained bullish run.
Market-wide sentiment could also change as Bitcoin [BTC] prices do something dramatic, bullish or bearish.