Metaverse Game Platform Nifty Island to Launch $ISLAND Token On January 17
In Brief
Nifty Island will launch its native token $ISLAND which will transform the metaverse into a public good for every community on the internet.
Open social metaverse game platform developed by Nyft Studio — Nifty Island, announced the launch of its native token $ISLAND. The $ISLAND token, a scarce digital commodity, is set to transform Nifty Island into a public good accessible to every community on the internet.
The token distribution event is scheduled to start on January 17, 2024. The token will not be distributed through minting or pre-sale. Instead, it will be provided to users via a Play-to-Airdrop (P2A) event, designed to enhance user engagement and interaction.
Eligibility to farm $ISLAND token will be offered to the entire web3 community. However, members of web3’s most active NFT projects, particularly official partners, will be granted enhanced abilities to engage in the P2A event.
Nifty Island’s objective is to establish a community-owned and community-driven metaverse that seamlessly integrates digital assets. Upon joining, each user will receive a distinct island, a customizable avatar for game participation, and the ability to display, collect, trade NFTs, and earn rewards for contributing to games and creating content within the game world.
Metaverse Tokens Surge in Market
In recent weeks, the metaverse token landscape has seen significant developments.
Recently, Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC), announced the launch of the Otherside metaverse. Since then, ApeCoin (APE), the standard currency in Otherside, has become the leading metaverse token by market capitalization, surpassing Decentraland’s MANA, The Sandbox’s SAND, and Axie Infinity‘s AXS.
APE, the Ethereum-based token for the Bored Ape Yacht Club (BAYC) ecosystem, exhibited strong performance relative to the broader crypto market, surpassing a majority of the top 100 coins listed by CoinMarketCap.
The metaverse token space is evolving, with Nifty Island introducing the $ISLAND launch against the backdrop of APE tokens showcasing growth and a surge in interest.
Disclaimer
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
