Pixelverse, a popular NFT and gaming platform, saw its native token, PIXFI, surge nearly 50% in the first hours following its airdrop on July 18th.
The token launched, much to the anticipation of the community, witnessed a rapid rise in value, reaching a market capitalization close to $200 million, according to CoinMarketCap, before experiencing a slight correction later in the day. Notably, PIXFI is now listed on several prominent centralized exchanges, including Bybit, HTX, Gate, Bitget, and MEXC.
The airdrop itself distributed a significant portion of the total PIXFI supply. According to a Pixelverse announcement, 10% went to holders of their Rare, Epic, and Legendary NFT collections. This rewarded dedicated players and early adopters of the platform. Additionally, Pixelverse plans to distribute another 20% of the tokens over time to active users of both Pixelverse and Pixelchain, their Layer 2 blockchain solution.
Pixelverse’s success can be attributed in part to PixelTap, their hit Telegram game. This cyberpunk-themed minigame reportedly attracted a staggering 50 million new users in June alone, showcasing the platform’s reach and potential. The project leverages The Open Network (TON), a layer-1 blockchain originally developed by Telegram.
While the initial price surge is positive news for Pixelverse, the long-term value of PIXFI will depend on various factors. The continued development of the Pixelverse ecosystem, including games and applications built on their blockchain, will be crucial for sustained growth. Additionally, the overall performance of the cryptocurrency market will also play a role in PIXFI’s future price trajectory.
