The first major game token airdrop of 2024 kicked off this morning, as the Xai gaming network (XAI) distributed tokens to qualified users.
Xai is billed as a “layer-3” network built on Arbitrum, a layer-2 scaling network for Ethereum.
According to the Xai Foundation, the project is offering 125 million XAI (or 5% of the token supply) to qualified users, including owners of a certain amount of Xai NFTs and those operating a Sentry Node or validator help support the network.
Binance exchange also allows customers to earn pre-launch XAI token rewards by participating in staking of other cryptocurrencies.
XAI debuted at a price below $0.68 early Tuesday morning and rose to a peak above $0.77 before falling to its current price around $0.56, losing 15% on the daily timeframe. and down 20% from the current peak.
Airdrop tokens are notoriously volatile, but even so, the total value of the airdrop currently stands at nearly $70 million USD. Currently the project’s market capitalization is just over 154 million USD with more than 277 million tokens in circulation, including tokens from the airdrop.
“Dear Xai community:
When claiming XAI, it is important to stay alert to potential scams. Please read carefully and follow thefollowing instructions:
Official contract claim address: The only legal airdrop claim XAI contract address is 0x149107dEB70b9514930d8e454Fc32E77C5ABafE0. Any contract address quitec declared in relation to Cclaiming ownership of XAI is all a scam.
The only legal XAI contract address is 0x4Cb9a7AE498CEDcBb5EAe9f25736aE7d428C9D66. Any other contract site claiming to be related to XAI is a scam.
Official XAI claim website: The only legal XAI claim website is sentry.xai.games/# /claim-token.
Official start time: Claim token XAI officially starts at 9:30 UTC (16:30 Vietnam time) on Tuesday, January 9, 2024. Do not attempt to claim from any source before that start time. Do not click on any links under this post.”
Sentry Node operators and some NFT holders can claim hundreds of USD worth of XAI tokens. For example, node operators can claim 1,658 XAI for each key owned, worth nearly 925 USD at current prices. Vanguard NFT owners can claim 1,307 XAI, equivalent to about 730 USD, while Legendary NFT owners can claim 290 XAI (about 162 USD).
Xai Foundation has introduced “Season 2” token airdrop rewards, but has yet to detail how users can earn additional rewards. Some Xai NFT holders lower than “Vanguard” or “Legendary” have complained on social media about not being included in this first airdrop.
Xai Network is developed by Xai Foundation in collaboration with Offchain Labs, creators Arbitrum, and studio Ex Populus. Xai Foundation has also announced a partnership with popular esports organization, Team Secret, to promote and participate in the network, focusing on competitive games.
Xai’s first titles are being developed by Ex Populus, including Final Form, a deck-building card game with auto-battle elements.
Another game from the studio is LAMO, an online world with cartoon characters fighting each other. LAMO has released physical toys, inspired by famous gaming influencers like Ninja and Dr. Dispect, toy owners can then unlock these characters in the game.
