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The makers of anime-inspired role-playing game Kaidro: Clan Battles announced that they will launch a token on Ethereum sidechain network Ronin this week. With 35% of the supply allocated to community rewards, this opens the door to play-to-airdrop campaigns and other engagement rewards.
On Wednesday, December 18, the KDR token generation event (TGE) will take place on the Ronin network. If all goes to plan, then the KDR token will be available to trade via centralized exchange Bitmart and the Katana decentralized exchange on Ronin.
$KDR token is a pivotal moment in the history of the Kaidro universe. Finally a piece of the world that can be accessible to millions of future audiences to come. Kaidro’s $KDR will lead the forefront of what a token supported intellectual property can do. Kaidro sets the stage… pic.twitter.com/3skMk5sUNs
KDR will have a total supply of 100 million, with the largest portion of this supply at 35% being allocated to community rewards. The project plans to reward those who interact with Kaidro. from reading the webcomics to playing the game or purchasing NFTs. It appears that a transmedia play-to-airdrop campaign is on the horizon.
Another 25% of the supply is allocated to investors, with 12% for the team, unlocking every three months over a four-year period. On top of that, there is 11% set aside for liquidity, 9% for strategic advisors, 4.5% to support ecosystem development, and 3.5% for marketing.
In the announcement tweet, Kaidro’s developers explained that KDR will have utility within the anime universe.
Namely, the token will present the opportunity to influence the anime series—likely through some sort of governance system—as well as the possibility to be a voice actor for the show. It will also unlock exclusive in-game items, allow fans to purchase merchandise, and allow them to earn in upcoming play-to-airdrop campaigns.
Once the token has been launched, next up on the project’s roadmap is for Kaidro: Clan Battles to enter closed beta and another title called Kaidro: Pocket Game to launch.
[PRESS RELEASE – Kingstown, St. Vincent and the Grenadines, December 17th, 2024]
MINGO, a digital wallet built on the Hedera Hashgraph network, introduces an NFT-based Programmable Digital Ticketing (PDT) system to innovate the ticketing industry. By addressing critical issues such as fraud, scalping, and resale inefficiencies, MINGO delivers a secure and transparent solution trusted by leading names in sports and entertainment.
MINGO’s native token $MINGO is set to go live on Coinstore on Wednesday, December 18th, and more exchanges including BitMart by the end of the year, marking another milestone in MINGO’s mission to drive Web3 adoption.
Trusted by Industry Leaders
World Boxing Council (WBC)
Fight Circus
NUCA MMA
Comic-Con Ireland
Tyson Fury
Goldstar Promotions
Hedera
World Boxing Muay Thai – (WBC Muay Thai )
Yucateco Boxing League
These collaborations highlight MINGO’s scalability for large-scale events while enhancing the experience for both organizers and fans.
Key Features of MINGO Tickets
For Event Organizers:
Fraud Prevention: Hedera Hashgraph ensures each ticket is tamper-proof, effectively eliminating counterfeits and scams.
Anti-Scalping Measures: Price caps on resales ensure fair access for fans.
Additional Revenue: Secondary sales generate commissions for event organizers.
Seamless Delivery: Tickets are securely delivered and managed in the MINGO Wallet.
For Attendees :
Exclusive Perks: NFT tickets can include VIP upgrades, gifts from organizers, and meet-and-greets.
Collectible Digital Memories: Fans receive digital keepsakes tied to the event, such as messages from artists or highlights.
Enhanced Utility: Tickets can unlock bonus content or additional event experiences before, during, or after the show.
Secure Resales: Transparent resale systems ensure fairness and eliminate scalping.
Built on Hedera – Security, Efficiency, and Sustainability
Powered by the Hedera Hashgraph network, MINGO’s ticketing system benefits from Hedera’s low fees, high-speed transactions, and energy efficiency. As an early adopter, MINGO has been working with Hedera since 2018 demonstrating its long-term commitment to the network and the Web3 space.
Driving Innovation in Ticketing
MINGO’s NFT Ticketing System combines practical, real-world applications with blockchain technology, offering benefits that traditional systems cannot match. By eliminating fraud, protecting fans, and creating new value opportunities, MINGO is setting the standard for event ticketing.
“We’re honoured to work with leaders across sports and entertainment to address the challenges of ticketing,” said Joe Arthur, CEO of MINGO. “Our NFT-based system isn’t just about tickets—it’s about delivering unforgettable experiences to fans while adding value for organizers.”
About MINGO
MINGO is a digital wallet and NFT ticketing solution built on the Hedera Hashgraph network. Operating since 2018, MINGO offers secure, programmable digital tickets that eliminate fraud, protect fans, and generate value for event organizers. Trusted by leading organizations such as the WBC, Fight Circus, and Comic-Con Ireland, MINGO is redefining ticketing for the digital age.
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Galaxy Digital founder and CEO Mike Novogratz believes Bitcoin (BTC) could match and eventually surpass gold’s market capitalization within five to eight years, following the crypto’s record-breaking momentum.
Novogratz made the prediction in response to a post by Alex Thorn, head of research at Galaxy, which highlighted that Bitcoin’s market cap has reached 14% of gold’s $17.8 trillion value — a new all-time high.
Thorn’s analysis, accompanied by a chart showing Bitcoin’s increasing share of gold’s market cap, emphasized Bitcoin’s accelerating growth.
The milestone coincides with Bitcoin’s surge to a new lifetime peak of $108,000 on Dec. 17, ahead of the US Federal Reserve’s anticipated rate cut. Bitcoin’s current market cap of $2.13 trillion now exceeds two-thirds of the $3.13 trillion in gold held by global central banks.
Federal Reserve Chair Jerome Powell recently acknowledged that Bitcoin is a “digital version” of gold during recent remarks. However, he added that it remains a speculative asset and dismissed its competition with the US dollar.
Powell clarified that while Bitcoin has a niche appeal, it does not fulfill the broader functions of a sovereign currency, such as facilitating payments or serving as a medium of exchange. His comments reflect the growing recognition of Bitcoin among policymakers as a legitimate asset class, even if its role remains distinct from traditional currencies.
The flagship crypto’s rise also signals a significant shift in investor sentiment. US-based Bitcoin ETFs recently surpassed gold ETFs in total assets under management, with Bitcoin ETFs reaching $129.25 billion compared to gold’s $128.88 billion.
BlackRock’s iShares Bitcoin ETF (IBIT) notably outperformed the iShares Gold ETF (IAU), which has been a mainstay since 2005.
Novogratz’s remarks reflect growing confidence among industry leaders in Bitcoin’s potential to challenge gold’s status as the dominant store of value. With institutional adoption rising, favorable market conditions, and Bitcoin’s increasing acceptance as “digital gold,” the flagship crypto’s market cap appears poised to reshape global asset valuation in the years ahead.
Wyoming Senator Cynthia Lummis, known as the « Bitcoin Senator, » has identified 2025 as a pivotal year for Bitcoin and crypto, with several proposed policies and key government positions expected to converge and spur change.
“With David Sacks as Crypto Czar, this will be the most pro-digital asset administration ever, » Lummis wrote on X. “I look forward to working closely with [Sacks] to pass comprehensive digital asset legislation and my strategic bitcoin reserve.”
Earlier this month, Donald Trump appointed venture capitalist Sacks to oversee artificial intelligence and crypto policy initiatives next year.
The President-elect has promised to protect domestic crypto mining interests, shore up regulation, and make the U.S. the “crypto capital” of the world.
On the last two points, Sacks will “work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the U.S,” Trump said on December 6.
Lummis’ enthusiasm follows a reshuffle of key government officials, including a new SEC chair, as Trump prepares to re-enter the White House for a second presidential term.
Central to the Senator’s vision is the Boosting Innovation, Technology, and Competitiveness Through Optimized Investment Nationwide Act, also known as the “Bitcoin Act.”
The legislation proposes the creation of a Strategic Bitcoin Reserve, which she described as “a network of secure storage vaults, purchase program, and other programs to ensure the transparent management of Bitcoin holdings of the federal government.”
The initiative aims to accumulate 1 million Bitcoin—5% of the total supply—over five years. The reserve would be funded by reallocating existing Federal Reserve assets, such as bonds and gold, rather than creating additional debt.
“This Bitcoin Act is going to be transformative for this country,” Lummis said during her speech at the Bitcoin conference in Nashville four months ago. “With a strategic Bitcoin reserve, we will have an asset that, before 2045, can cut our debt in half.”
The Act also mandates a 20-year holding period for these assets, focusing on a long-term commitment to the asset.
According to Arkham Intelligence data, the U.S. government already holds substantial Bitcoin reserves, estimated at $21 billion, primarily seized through criminal cases. If passed, the Bitcoin Act could integrate these holdings into the strategic reserve.
The federal push mirrors momentum at the state level. Ohio Representative Derek Merrin introduced a bill on Tuesday that would allow the state treasury to invest public funds in Bitcoin.
Pennsylvania’s legislation, introduced by Representative Mike Cabell, seeks to allocate up to 10% of the state’s treasury reserves to Bitcoin as a hedge against inflation.
Meanwhile, Texas has proposed funding its reserve through donations and authorizing Bitcoin payments for taxes and fees.
FTX and its affiliated debtors have announced that their Chapter 11 reorganization plan will officially take effect on January 3, 2025.
This day has also been designated as the initial distribution record date for those holding allowed claims in the plan’s convenience classes.
Distribution Details
According to a press release, payments for these claims are expected to begin within 60 days of the plan’s effective date. In line with this, recipients must complete know-your-customer (KYC) procedures and fulfill other distribution requirements, including submitting tax forms.
This first round of payments will only apply to the convenience classes, with FTX noting that separate records and payment dates for other classes of claims will be announced later.
The court-approved reorganization plan, finalized in October 2024, received overwhelming support from creditors, who stand to recover an average of 119% of the value of their claims. Furthermore, under the terms of the initiative, some will receive up to 140% in cash.
FTX estimates that total recoveries will range between $14.7 billion and $16.5 billion. These repayments have been made possible through efforts to reclaim assets from various parties, including the U.S. Department of Justice and international regulators.
The company’s CEO, John J. Ray III, highlighted that the latest development demonstrated the significant success of the recovery efforts.
“For the past two years, our team of professionals have meticulously and efficiently worked to recover billions of dollars to reach this point.”
He added that FTX is now in a strong position to begin reimbursing funds to customers and creditors. He also encouraged claim holders to ensure they complete all the necessary steps to avoid delays in receiving their payments.
Distribution Agents and FTX Convictions
To support the distribution process, the defunct exchange has partnered with two crypto custodians, BitGo and Kraken. The duo will help disburse the funds to both retail and institutional customers as well as other claimants in supported jurisdictions.
FTX’s bankruptcy filing in late 2022 was one of the most significant collapses in the crypto industry. It was marked by several high-profile sentences, including the November 2023 conviction of former CEO Sam Bankman-Fried on charges of wire fraud and conspiracy, resulting in a 25-year imprisonment.
In May 2024, FTX Digital Markets co-CEO Ryan Salame was sentenced to 7.5 years in prison, while Caroline Ellison, the former head of Alameda Research, received a two-year prison term. Two other executives, Nishad Singh and Gary Wang, avoided prison altogether.
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The size and popularity of the Bitcoin options market have made it one of the best tools for gauging market sentiment and predicting volatility. Previous CryptoSlate analysis found that options wielded an outsized influence over Bitcoin’s price volatility and were responsible for most of the volatility we’ve seen this quarter.
Options data has shown a significant concentration of open interest (OI) at the $120,000 strike price for contracts expiring at the end of the year. This particular strike price has garnered significant attention from traders, with over $640 million in OI on Deribit alone. This OI far surpasses the activity we’ve seen at neighboring strikes across most platforms. Such a heavy focus on a single strike price shows speculators are optimistic about a price increase but creates a possibility of high volatility in the coming weeks.
Graph showing the open interest and strike prices for Bitcoin options on Deribit expiring on Dec. 27, 2024 (Source: Kaiko)
Open interest in strike prices far above the current spot price of Bitcoin can indicate that traders are willing to bet on extraordinary price movements. While Bitcoin’s price at press time remains significantly below the $120,000 level, fixed at around $107,000, the options delta can provide a clearer perspective on the probability of such bets materializing.
Delta, a key options metric, represents the sensitivity of an option’s price to changes in the underlying asset and can also serve as an approximation of the option’s probability of expiring in the money. For the $120,000 strike expiring on December 27, the delta sits at approximately 0.10, suggesting a 10% chance that Bitcoin will reach or exceed this price by year’s end, data from Kaiko showed.
Graph showing the delta for various strike prices for Bitcoin options on Deribit on Dec. 17, 2024 (Source: Kaiko)
As options are forward-looking, they provide insight into where traders believe the market could move and how volatile they expect it to be. A high concentration of open interest at a particular strike and substantial volume show which levels traders see as significant. In this case, the $120,000 strike emerges as a preferred point.
This is particularly significant because options activity often precedes spot market trends, as traders use options to hedge, speculate, or capitalize on expected volatility. High open interest on such a high strike price shows the market is preparing for a sharp price increase.
The size of Deribit’s OI shows the dominance of crypto-specific platforms in the Bitcoin options market. While CME, Binance, and OKX all offer options trading, Deribit remains the clear leader, particularly for high-strike calls.
Graph showing the open interest for Bitcoin options on OKX by strike price on Dec. 17, 2024 (Source: CoinGlass)
On Deribit, open interest is highly concentrated not only at $120,000 but also at other key psychological levels, such as $100,000, $110,000, and $130,000. This clustering indicates that traders are hedging or speculating around key price thresholds, likely anticipating significant price action in the last few weeks of the year. When combined with low deltas, the data shows traders are betting on low-probability, high-reward outcomes.
The disparity between Deribit’s options data and the activity on platforms like CME reflects a clear divide between institutional and retail participation. While CME data reflects a more conservative positioning among institutional traders, the speculative activity on Deribit points to a higher appetite for risk among crypto-native participants. This shows the importance of monitoring multiple platforms when analyzing the options market. Deribit, as the leader in liquidity and open interest, often sets the tone for Bitcoin options trends, while traditional platforms provide a complementary view of institutional flows.
From a volatility perspective, options strike price data and open interest levels are equally important for understanding how the market is pricing risk. The concentration of activity at distant strikes suggests that traders expect Bitcoin’s price to exhibit high levels of volatility leading into the end of the year. Options, particularly out-of-the-money calls, often serve as inexpensive bets on extreme moves. Substantial OI at strikes far above the current spot price indicates that traders anticipate price swings large enough to justify these positions, even if the probability of success remains low.
Ohio State Representative Derek Merrin is following in the footsteps of other representatives across the U.S., bringing forward a bill that would authorize the state’s treasury to invest public funds in Bitcoin.
House Bill 703, known as the Ohio Bitcoin Reserve Act, would establish a dedicated Bitcoin fund within the state treasury while investing the State Treasurer with discretionary power to purchase the crypto.
« The U.S. Dollar is being rapidly devalued, and our State Treasurer should have the authority and flexibility to invest in Bitcoin when determining proper asset allocation, » Merrin said in a statement posted to X. « Ohio must embrace technology and protect tax dollars from eroding. »
The bill amends section 2981.12 and enacts section 135.146 of Ohio’s Revised Code but does not mandate any specific Bitcoin purchases or portfolio allocations.
« Bitcoin provides a vehicle to supplement our state’s portfolio and preserve public funds from losing value, » Merrin stated, arguing that through the legislation, the Ohio state government could « harness the power of Bitcoin » to strengthen its state finances.
The Ohio representative said he anticipates the incoming Trump administration will pursue a national Bitcoin reserve program, referencing a proposal by Senator Cynthia Lummis of Wyoming.
The bill’s introduction comes as the current legislative session nears its end. Merrin expects the legislation to serve as a framework for lawmakers to address in the upcoming session in 2025.
A state strategy
Ohio joins a growing list of other U.S. State Representatives putting forth similar legislation.
In November 2024, Representative Mike Cabell introduced the Pennsylvania Bitcoin Strategic Reserve Act, proposing that up to 10% of the state’s treasury reserves be allocated to Bitcoin as a hedge against inflation.
Shortly after, Texas followed suit. Representative Giovanni Capriglione filed House Bill 1598 On December 12, aiming to create a strategic Bitcoin reserve funded through donations. The bill also seeks to authorize state agencies to accept Bitcoin for payments, including taxes and fees.
In October, a separate tax bill was proposed by Ohio State Senator Niraj Antani to accept Bitcoin and other crypto as payment.
Pepe Unchained, a trending new meme coin, is gaining momentum since its listing on BingX – one of the top centralized exchanges.
As the Pepe Unchained ($PEPU) team looks to expand the token’s availability, the project has also secured a listing on the MEXC crypto exchange, which will significantly boost its trading exposure. Additionally, LBank will list PEPU on December 18 – another milestone listing for the token.
These listings will naturally act as a catalyst in driving further interest in PEPU, which raised a staggering $73 million during its presale campaign. Exchanges such as MEXC and BingX offer major exposure, and boast 24-hour trading volumes of $5.5 billion and $512 million respectively.
In the past week, PEPU has become one of the most swapped tokens on MetaMask, reinforcing its rising popularity in the meme coin space. This surge is also being fueled by the imminent launch of double-rewards staking on the Pepe Unchained Layer 2, which is expected to attract even more stakers to the ecosystem.
Pepe Unchained is an advanced Layer 2 blockchain designed to drive the growth and innovation of the meme economy. The Pepe Unchained ecosystem features community-driven voting ecosystems, a decentralized exchange, cross-chain interoperability, block explorers, and a meme coin launchpad called Pepe’s Pump Pad.
By leveraging these features, Pepe Unchained aims to fix the problems of traditional blockchains – and provide a fast, scalable, and affordable platform focused on supporting meme-based innovation.
The ecosystem’s unique use cases, successful presale, and new exchange listings have played a big role in making Pepe Unchained one of the top trending ERC20 tokens on Dexscreener.
PEPU Holders Brace for a CEX-Driven Bull Run
After completing a spectacular presale, Pepe Unchained ($PEPU) proved to be rewarding after getting officially listed on the BingX crypto exchange.
PEPU initially listed at a price of $0.014 per token, and quickly reached an all-time high of $0.068 on December 12, 2024. This equates to a price increase of 385%. However, following this meteoric rise, some investors began taking profits – and PEPU dipped to its current price of approximately $0.0148 per token.
With a market cap of $119 million and a 24-hour trading volume of $16.9 million, Pepe Unchained is still gaining traction as one of the best new meme coins in the crypto space. This is normal for brand-new crypto projects, especially those focused on innovation and ongoing expansion.
PEPU’s upcoming exchange listings on MEXC and LBank, along with the launch of double-rewards staking, indicate potential for further growth. As the meme coin ecosystem continues to thrive, Pepe Unchained’s strong foundation, combined with its growing adoption and upcoming events, makes it a compelling choice for those looking to capitalize on the next big altcoin wave.
Could PEPU Explode?
Some believe that Pepe Unchained has the potential to experience significant growth.
2024 has seen gigantic price surges from top cryptocurrencies like Bitcoin – which has now crossed the $100K mark for the first time in its history. At the same time, many new meme coins – such as Popcat (POPCAT) – have soared in value dozens or hundreds of times over.
The meme coin market is expanding rapidly, and Pepe Unchained is at the forefront of this wave, offering real utility beyond mere speculation. Developers can start building on the platform by downloading the Pepe Unchained SDK, unlocking opportunities to create innovative applications.
Prepare yourselves: Pepe’s Pump Pad is launching this January.
Meme coin mania is what the Pepe Unchained Ecosystem is all about—fun, memes, launches, and pumps. pic.twitter.com/I0wpUxwwbm
Other groundbreaking features include Pepe’s Pump Pad, which enables anyone with a great idea for a meme token to create it in two clicks using a no-code launcher. In a high-performing tweet that has been viewed almost 80,000 times, Pepe Unchained recently stated that this feature will go live in January.
After PEPU reached its all-time high in December, Pepe Unchained became the #1 trending coin on CoinMarketCap – an achievement that generated even more attention and engagement from investors and developers.
As the meme market continues to grow, Pepe Unchained’s unique features could propel it to new heights, making it a prime candidate for major returns in the near future.
Wall Street Pepe Set to Explode Next?
Right after the conclusion of the Pepe Unchained presale, some investors embraced a new Pepe-themed token: Wall Street Pepe ($WEPE).
This new crypto project combines humor with real utility, by allowing WEPE token holders to access in-depth trading insights, signals, and alpha calls. The goal of Wall Street Pepe is simple: To build a community of like-minded investors, and equip them with strategies to compete with the biggest Wall Street institutions.
Using the Wall Street Pepe platform, token holders can also access private community groups, and take part in weekly trading competitions. From a total supply of 200 billion tokens, 40 billion have been allocated to the WEPE presale.
Currently priced at $0.0003646 per token, Wall Street Pepe has raised a staggering $27 million in just a couple of weeks. To help users generate passive income, Wall Street Pepe also offers a high APY (currently 45%) through its staking mechanism.
Due to this project’s creative utility and long-term rewards, Wall Street Pepe has some experts think that it might have the potential to take the crypto markets by storm – just like Pepe Unchained.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
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Coinbase disclosed in atransparency report that it received 10,707 requests from global law enforcement and government agencies over the past year, an 18% decline from the previous reporting period.
For the third consecutive year, the US submitted the highest number of requests from law enforcement and government agencies despite a decline this year.
Outside the US, Coinbase experienced notable decreases in law enforcement requests from key markets. Requests declined significantly in Germany, the UK, and Spain, by 33%, 45%, and 35%, respectively.
In contrast, Singapore stood out with a 221% increase in requests, jumping from 34 in 2023 to 109 this year. This signaled growing regulatory activity in the region as it emerged as a prominent crypto hub.
Criminal enforcement
According to Coinbase, 81% of all requests originated from six key jurisdictions: the U.S., the UK, Germany, France, Spain, and Australia. The overwhelming majority pertained to criminal enforcement matters, such as investigations into illicit financial activities, fraud, or other criminal concerns.
These requests took various legal forms, including subpoenas, court orders, search warrants, and other official processes. The report emphasized its obligation to respond only to legally valid requests.
Additionally, the company noted a robust review process to ensure compliance without compromising customer rights. It added that each request is scrutinized by a dedicated team of lawyers, analysts, and privacy experts.
Complying without compromising users
According to the report, the goal is to narrow overly broad or vague requests, reject requests deemed legally insufficient, and provide anonymized or aggregated data where possible instead of individualized customer details.
Regarding the information shared with authorities, while Coinbase does provide certain customer details — such as names, IP addresses, and payment information—in response to valid requests, it stated that no government has direct access to its systems.
Coinbase’s decision to share these figures reflects its push for transparency as it navigates the regulatory landscape.
The report pointed out that proactively disclosing the scope and nature of government requests signals to regulators and users that the firm is committed to balancing compliance and customer trust.
Nifty Island embraced a wide array of established communities in Web3 to help expand its Roblox-style metaverse game.
Now it’s rewarding them.
The project, which pioneered the now-popular “play-to-airdrop” campaign, just launched ISLAND, an Ethereum-based utility token that serves as the ecosystem token for its in-game economy.
Below, learn everything you need to know about ISLAND now that it’s live.
What is ISLAND?
ISLAND is the native token of the Nifty Island ecosystem, offering holders “in-game utility and demand drivers” to help power its creator-focused gaming metaverse.
ISLAND has a total supply of one billion tokens and launched on the Ethereum blockchain as an ERC-20 token.
The token generation event for ISLAND took place on Tuesday, December 17. The launch was delayed into the afternoon due to the game’s official account on X (formerly known as Twitter) being hijacked in the morning.
Who gets the airdrop?
ISLAND will be primarily distributed to five separate groups of ecosystem participants.
Community
The community receives the largest supply of ISLAND tokens, getting 38.6% in total.
The bucket of more than 400 million tokens is broken up into three separate community groups, allocating ISLAND tokens for the Nifty Island rewards pool, ecosystem incentives, and the play-to-airdrop campaign.
Play-to-Airdrop Campaign
Those who participated in the nine-month play-to-airdrop campaign will split 12.6% of the ISLAND supply, all of which was liquid and tradable upon the token generation event. This bucket is aimed at rewarding “genuine gameplay and engagement” within Nifty Island.
A player’s ISLAND airdrop is primarily based on the airdrop points they accrued by collecting Blooms, an in-game resource, and their respective collector tier, which is determined by the on-chain holdings of their connected Nifty Island accounts.
Users who held at least one of more than 170 eligible partner community NFTs during a March 25 snapshot may also be eligible for ISLAND tokens as part of Nifty Island’s “Wave 3” addition to the play-to-airdrop campaign. Eligible communities are listed in the airdrop section on the Nifty Island website.
Rewards pool
An additional 175 million tokens—or 17.5% of the ISLAND supply—has been set aside in a Nifty Island rewards pool for real-time earnings through future gameplay.
Ecosystem incentives
Lastly, 85 million ISLAND, or 8.5% of the supply, is set aside for attracting developers and creators to Nifty Island.
The first installment is being provided to Animoca Brands’ flagship NFT community, Mocaverse, offering 10 million ISLAND to its community via the MocaDrop at token generation.
Investors and advisors
More than 300 million ISLAND tokes were set aside for investors and advisors to Nifty Island.
Described as “exceptionally long-termist,” Nifty Island’s backers will have 71% of their tokens locked for two years, linearly unlocking over the course of the next two years thereafter. Meanwhile, the additional 29% of their tokens will be locked for three years, and then linearly unlocked over the following three years.
Nifty Island team
The Nifty Island team has been allocated 19.5% of the ISLAND supply, or 195 million tokens. Like the advisors and investors, team members will not be able to sell their tokens on day one. Instead, 66% of team member tokens will be locked for two years from the token generation event, unlocking linearly for the following two years. And the remaining 34% will be locked for one year from the token generation event, unlocking linearly over the course of the following year.
Project Treasury
Managed initially by the Nifty Island team, the project treasury will house 9.2% of the supply, or 92 million ISLAND tokens. These tokens are designed to be used to fund project expansion and promotion of Nifty Island.
Exchange Liquidity
Finally, 2.5% of the ISLAND supply is set aside for centralized exchange liquidity. This was increased from 1% just before the token was generated, with the additional amount shaved from the « Ecosystem incentives » bucket.
Nifty Island has already announced that the biggest utility benefits will be awarded to holders of the ISLAND token that stake their tokens on Ethereum or Base.
Those that stake ISLAND will be eligible for the following benefits:
Enhanced rewards rate
Staking ISLAND will offer those that play in Nifty Island a higher rate of rewards, earning them additional ISLAND tokens faster than those who are not staking the ecosystem’s native token.
Access to exclusive resources
Players that stake the ISLAND token will gain access to greater platform resources, allowing them to make their in-game islands larger and more immersive.
Consumables
Consumables that boost content and earnings inside Nifty Island will be provided to stakers based on the amount of ISLAND tokens they lock in a staking contract.
Exclusive prizes
Exclusive prizes and Bloom rewards will be offered by Nifty Island and its partners on occasion to those who have staked the token.
Governance
Last but not least, staking ISLAND offers users the opportunity to vote on governance proposals that can directly shape the future of Nifty Island. Voting power will scale proportionally according to the amount of ISLAND tokens that a player stakes.
In addition to these utilities, Nifty Island’s developers indicated that more benefits will be extended to ISLAND holders as the platform expands.
Editor’s note: This story was originally published on December 16, 2024. It was updated with new details after the token generation event on December 17.
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