In a captivating narrative unfolding within the cryptocurrency sphere, the TON Foundation has orchestrated a notable development by initiating a $600K worth of airdrop exclusively for active NFT traders and holders, marking a significant stride in the cryptographic journey.
As detailed in a recent announcement by the TON Foundation on X, the crypto firm has unveiled a 105,600 TON airdrop destined for active traders on esteemed NFT marketplaces such as Getgems, xRare, and Ton NFT Diamonds. Here's a comprehensive breakdown of the airdrop's eligibility criteria, snapshot procedure, and pivotal details.
TON's Airdrop For NFT Traders: What's in Store?
As per the recent disclosure by the crypto firm on X, the snapshot for the 105,600 TON airdrop was taken on April 23 at 8:00 AM CEST. Notably, active traders engaging on the aforementioned NFT marketplaces between April 11 (2 PM CEST) to April 23 (8 AM CEST) were deemed eligible for participation in the airdrop.
However, it's essential to highlight that NFT collection owners, non-wallet addresses, and Sybil wallet addresses were excluded from receiving the airdrop. Additionally, all NFT collections listed on the aforementioned marketplaces were whitelisted for the event.
Of particular interest, the TON Foundation opted out of implementing a point-based system for disbursing airdrop rewards, instead relying on various on-chain metrics for users. Notably, users engaging in the trading of 2-4 NFT collections were allocated 1 point, with points increasing proportionally with the number of collections traded.
Furthermore, points were also assigned based on the volume of NFT deals executed per user, alongside several other pertinent factors. By amassing these points, participants became eligible to claim rewards in the form of TON, the native token of the Ton blockchain.
Notably, users accumulating points within the range of 2-5 were entitled to a reward of 40 TON, with higher points correlating to greater rewards. This development, aimed at revitalizing the NFT landscape amidst its ongoing sluggish performance, swiftly garnered significant attention among crypto market participants. Meanwhile, amidst the noteworthy airdrop event, the native token of the Ton blockchain experienced a decline in value.
TON Price Movement:
As of the latest update, the TON token observed an 8.81% decline in value over the past 24 hours, currently trading at $5.22. This considerable dip in the token's value predominantly aligns with the broader downtrend observed across the crypto industry today, thus contrasting with the positive momentum instigated by the aforementioned development.
It's important to note that the TON Foundation continues to make significant strides, recently unveiling Memelandia, an initiative aimed at propelling institutions into the realm of meme coins. These advancements underscore the foundation's commitment to revolutionizing its cryptographic venture, thereby fostering optimism among participants in the crypto market.
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