<img src="https://crypto.news/app/uploads/2023/12/crypto-news-cybersport-girl-play-computer-games-option04.webp” />
Pixelverse’s price surged on Friday as investors cheered its recent launch on major exchanges such as Bybit, HTX, and Gate.
The newly launched PIXFI token was trading at $0.0886 on Friday, giving it a market cap of over $451 million.
Pixelverse also skyrocketed after developers launched perpetual staking, which allows token holders to generate profits by holding them. Perpetual staking means that users only need to stake once to receive rewards from the entire ecosystem.
In the first stage of staking, users received common, uncommon, rare, epic, and legendary loot boxes. Legendary loot box items such as clothing, skins, and real estate vouchers will be exclusively for staking.
The perpetual staking feature came a day after the developers revealed their airdrop, where all users received their nft rewards, which can be claimed on July 25. 10% of PIXFI tokens were allocated to rare, epic, and legendary nfts, while 20% was awarded to Pixelverse and x.com/pixelverse_xyz/status/1813660962844811717″ target=”_blank” rel=””>String of pixels users.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter“>
Pixelverse also introduced a unique approach to prevent dumping and bot activity. The immediate withdrawal of the PIXFI token gave users only 10% of the airdrop, with the remainder transferred back to the community incentive fund to reward the community.
Pixelverse, part of the TON ecosystem, has seen strong growth in recent months, attracting over 75 million users and 15 million daily active users.
The developers also launched the Playground demo and signed partnerships with other platforms such as Pudgy Penguins, Notcoin and Coq Inu. They also created Pixelchain, the first layer 2 network for the TON network.
A layer 2 network is a sidechain that reduces the load on a main blockchain network and speeds up its performance. Popular ethereum layer 2 blockchains, such as Polygon and Arbitrum, have better transaction speeds and lower fees than ethereum.
Pixelverse browser coming soon
The next key catalyst for the Pixelverse token will be the launch of the mobile browser in August. This browser will make it easier for users to participate in the ecosystem and possibly earn rewards.
A key risk for the PIXFI token is that many cryptocurrencies initially surge after the airdrop and then pull back as the momentum fades. For example, Wormhole (W) initially surged to $1.8540 after the airdrop and then fell to $0.30.
Similarly, the zkSync token rose to $0.40 shortly after its launch and then dropped to $0.18. Other recent launches such as rapper Iggy Azalea’s MOTHER and Andrew Tate’s DADDY also rose and then dropped after a few days.
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
