Pixelverse’s PIXFI token price surged 50% within an hour after the airdrop was released, and the TON L2 plan was revealed

Pixelverse, an NFT and gaming platform on The Open Network (TON), launched its native token, PIXFI, via an airdrop on July 18.

The token's value surged nearly 50% in the initial trading hours, reaching a fully diluted market cap of approximately $200 million before stabilising.

PIXFI is listed on multiple exchanges

PIXFI is now available on several centralised exchanges, including Bybit, HTX, Gate, Bitget, and MEXC.

Pixelverse Airdrop Details

10% of PIXFI's total supply was airdropped to holders of Rare, Epic, and Legendary NFT collections.

Another 20% will be distributed to Pixelverse and Pixelchain users over time.

The airdrop aims to avoid the sharp selloffs typical of free token distributions.

Airdropped tokens are staked for additional rewards, and withdrawing them immediately incurs a 90% penalty.

Despite early concerns, the innovative staking mechanism and broad distribution have helped maintain the token's value.

This approach rewards genuine user engagement, reducing the risk of farming and sybil attacks that often plague airdrop events.

What is Pixelverse

Pixelverse is known for the popular Telegram game PixelTap, which attracted 50 million new users in June.

The platform operates on TON, a blockchain originally developed by the Telegram team and now managed by the TON Foundation.

Pixelverse Future Plans

Pixelverse plans to integrate more characters and features into PixelTap, including "Pudgy" from the Pudgy Penguins NFT collection.

Additionally, the platform will introduce a new layer-2 scaling network called Pixelchain, compatible with the Ethereum Virtual Machine (EVM).

Engagement Rewards

Players can earn PIXFI tokens by engaging with PixelTap and using the Pixelverse dashboard. This system mimics battle passes in Web2 games, rewarding users for their activity.

Pixelverse Expansion Plans

Pixelverse continues to build within the TON ecosystem. Pixelchain, the first EVM-compatible chain on TON, is set to launch its testnet next week, paving the way for new games and apps under the Pixelverse brand.