Nifty Island, an innovative gaming platform built on Ethereum, is gearing up for the launch of its native token, ISLAND, set for December 17.
Nifty Island, an innovative gaming platform built on Ethereum, is gearing up for the launch of its native token, ISLAND, set for December 17. This new ERC-20 token aims to enhance the in-game economy of its vibrant metaverse, which has already captured the attention of various Web3 communities.
Here’s a comprehensive overview of ISLAND, the upcoming airdrop, and what participants can expect.
What is ISLAND?
ISLAND is the utility token for the Nifty Island ecosystem, designed to provide holders with various in-game benefits and incentives.
With a total supply of one billion tokens, ISLAND will launch on the Ethereum blockchain and utilize LayerZero's omnichain technology, allowing it to operate on Ethereum layer-2 networks like Base and potentially on Solana in the future.
Launch Details
The token generation event for ISLAND is scheduled for December 17 at 10 a.m. ET. This event marks a significant milestone for the Nifty Island community, which has been eagerly anticipating the rollout of this utility token.
Airdrop Distribution
The ISLAND tokens will be primarily distributed to different groups within the ecosystem, with the community receiving the largest share—40.1% of the total supply.
This allocation totals over 400 million tokens and will be divided among three community groups, including a rewards pool, ecosystem incentives, and the play-to-airdrop campaign.
Play-to-Airdrop Campaign
A notable aspect of the distribution is the play-to-airdrop campaign, which accounts for 12.6% of the supply. Participants who engaged in this nine-month campaign will be rewarded based on their gameplay and engagement levels, specifically through the collection of Blooms, an in-game resource. A snapshot taken on December 16 will determine eligibility and collector tiers for the airdrop.
Players who held eligible NFTs from partner communities during a previous snapshot may also qualify for ISLAND tokens as part of an expanded play-to-airdrop initiative.
Rewards and Incentives
An additional 175 million tokens (17.5% of the total supply) will be allocated to a rewards pool, which will facilitate real-time earnings through gameplay.
Furthermore, 10% of the supply (100 million ISLAND) is earmarked to attract developers and creators to the platform, starting with a contribution to Animoca Brands’ Mocaverse community.
Investor and Team Allocations
Over 300 million ISLAND tokens are reserved for investors and advisors, with a significant portion locked for two years to promote long-term commitment. The Nifty Island team will receive 19.5% of the tokens, with similar lock-up periods to ensure stability.
The project treasury will hold 9.2% of the supply, aimed at funding future expansions and promotional efforts. Notably, just 1% of the tokens will be set aside for centralized exchange liquidity.
Claiming and Using ISLAND
Participants can claim their ISLAND tokens directly on the Nifty Island website. The utility of ISLAND extends beyond mere ownership; holders who stake their tokens will enjoy enhanced rewards, access to exclusive resources, and other benefits.
Staking also provides governance opportunities, allowing players to vote on decisions that shape the future of Nifty Island.
In conclusion, the ISLAND token launch represents a significant development for Nifty Island and its community. With a robust distribution plan and a focus on rewarding genuine engagement, the platform is poised to enhance its gaming ecosystem and provide exciting opportunities for players and creators alike.
Keep an eye on December 17 for the token generation event and prepare to dive into the world of Nifty Island.
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