Pixelverse’s native token, PIXFI, has surged over 230% after its founders introduced a perpetual staking feature according to CoinGecko. Currently trading at $0.06084, PIXFI has also seen a 135% increase in the past seven days.
The non-fungible token (NFT) and gaming platform on The Open Network launched its much-anticipated token airdrop on July 18.
The Open Network (TON) token experienced a significant rise, trading up almost 50% in the first hours after listing, reaching approximately $200 million in fully diluted market capitalization before a slight pullback later in the day, as reported by CoinMarketCap. PIXFI is now listed on several centralized exchanges, including Bybit, HTX, Gate, Bitget, and MEXC.
PIXFI’s Bullish Momentum After Staking Launch
The recent surge in PIXFI’s price is largely attributed to the launch of perpetual staking by Pixelverse developers. This feature allows token holders to generate returns by holding the tokens without needing to retake. Perpetual staking means that users only need to stake once to receive continuous rewards from the entire ecosystem.
During the first stage of staking, users received loot boxes of varying rarities: common, uncommon, rare, epic, and legendary. Items from legendary loot boxes, such as clothes, masks, and real estate vouchers, are exclusive to stakers.
The perpetual staking feature was introduced a day after the developers unveiled their airdrop, where all users received their NFT rewards, which are claimable on July 25. Around 10% of the PIXFI tokens were allocated to rare, epic, and legendary NFTs, while 20% were awarded to Pixelverse and Pixelchain users.
According to a Telegram post, Pixelverse will allow PixelTap players to claim an NFT starting July 25, with the NFT’s rarity level based on their in-game level.
Players and users of the Pixelverse dashboard holding a rare, epic, or legendary level NFT will be eligible to claim PIXFI tokens via the airdrop. However, holders of common or uncommon NFTs will not receive a token allotment.
PIXFI Airdrop Boosted Intital Price Surge
The introduction of the perpetual staking feature and the successful airdrop have extensively boosted the demand for PIXFI. These traits highlight the potential of Pixelverse as a distinguished entry in the NFT and gaming space. The ecosystem’s ability to generate consistent rewards for its users through innovative staking mechanisms has been a key driver of its recent success.
As the market continues to grow, PIXFI’s performance will be closely watched by buyers and analysts. The token’s strong growth indicates confidence in the platform’s success and the value it brings to the NFT and gaming communities. Pixelverse’s strategic moves, which include the creation of perpetual staking and the nicely executed airdrop, have positioned it favourably in the volatile crypto space.