- In addition to the advent of a Pixelverse layer-2 network in TON, gamers utilizing PixelTap will have the opportunity to claim an NFT, and a portion will also receive PIXFI tokens.
The PIXFI coin was released on The Open Network (TON) on Thursday by Pixelverse, a cryptocurrency gaming brand that has become increasingly well-known recently, partly because of the popularity of its PixelTap game on Telegram. The company also disclosed its plans to reward players with an airdrop.
As of this writing, PIXFI is selling at about $0.024, yet price trackers show varying trends since inception because of the high volatility of newly issued tokens. Because each tracker logs different starting values, CoinMarketCap frames it as over 5% lower than CoinGecko’s 17% increase thus far.
A Pixelverse spokesman said that of the 5 billion tokens that are available for purchase, 13.6% are in circulation at the moment, giving the PIXFI token a market capitalization of about $17 million. Approximately $26 million has been traded so far.
Notwithstanding its present price movement, PIXFI’s introduction has made it possible for Pixelverse to move forward with plans to reward gamers with tokens through an airdrop. Prior to debut, the initiative had been reticent about that particular matter.
A post on Telegram on Thursday stated that starting on July 25, Pixelverse will enable PixelTap users to claim an NFT. The player’s level in the game will determine how rare an NFT is.
PIXFI tokens will be distributed by airdrop to PixelTap users and users of the Pixelverse dashboard who possess a Rare, Epic, or Legendary level NFT; holders of Common or Uncommon NFTs will not receive a token allocation.
However, there’s a catch—or rather, a few crucial details to take into account. Users that want to claim their PIXFI immediately will only be able to retain 10% of the total tokens, according to an official explainer; the rest 90% will be recycled into the PIXFI Community Incentives Pool.
By playing PixelTap and/or utilizing the Pixelverse interface, players can continue to accrue more or all of their allocation credits. Instead of being timed, it unlocks based on engagement.
According to the post, this novel system compensates users for their activities in a manner akin to Web2 game battle passes. The more Pixelverse items you use, the more PIXFI tokens you will be able to withdraw.
Additionally, Pixelverse disclosed its intentions to carry on developing within the TON ecosystem, which is closely related to the messaging software Telegram.
Pixelverse intends to implement Pixelchain, a specialized layer-2 scaling network on top of TON with Ethereum Virtual Machine (EVM) compatibility, after the introduction of PIXFI and the impending airdrop plans.
Pixelverse claims that the Pixelchain testnet will be the first EVM chain to run on TON, while more are on the way. It is scheduled to launch next week. Apps and games created under the Pixelverse brand will be powered by Pixelchain.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments
