TON Foundation Initiates $600K Airdrop for NFT Traders
The TON Foundation has initiated an airdrop totaling $600,000 for active NFT traders and holders, according to a recent announcement.
TON Foundation has unveiled a 105,600 TON airdrop for active traders on Getgems, xRare, and Ton NFT Diamonds, prominent NFT marketplaces.
💸 $600K airdrop to NFT traders and holders! 💸
TON Foundation is airdropping 105,600 $TON to the most active NFT traders and holders on @getgemsdotio, @xrarenft, and @TonDiamondsNFT. If you’ve been trading and/or holding NFTs on these platforms between April 11th and April… pic.twitter.com/XunDmHvavi
— TON 💎 (@ton_blockchain) April 25, 2024
The TON Foundation opted against a point-based system for airdrop rewards, instead relying on various on-chain metrics for users. Users trading 2-4 NFT collections were allocated 1 point, with points increasing proportionally with the number of collections traded.
Points were also assigned based on the number of NFT deals executed, NFT trading volume per user, and other factors. Participants could claim rewards in TON, the native token of the Ton blockchain, based on their accumulated points.
Participants with 2-5 points were eligible for a reward of 40 TON, with rewards increasing in line with accumulated points. This initiative, aimed at invigorating the NFT sector amidst its recent sluggishness, garnered significant attention from crypto market participants.
READ MORE: Ripple Responds to SEC’s $2 Billion Penalty Demand
Meanwhile, amidst the airdrop event, the TON token experienced a price decline, increasing by 0.20% in the past 24 hours to reach $5.41. This decline mirrors the broader downtrend in the crypto industry today, contrasting with the positive momentum generated by the aforementioned development.
It’s noteworthy that the TON Foundation continues to make strides, recently launching Memelandia to promote institutional involvement in meme coins, further enhancing its cryptographic endeavors and fostering optimism among crypto enthusiasts.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
