Markets News Report
December 21, 2023

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.

Metaverse Game Platform Nifty Island Launches $ISLAND Token On January 17

Open social metaverse game platform developed by Nyft StudioNifty 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

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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