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.
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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 an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
