ISLAND: All You Need to Know About the ‘Nifty Island’ Ethereum-Based Token

Nifty Island, a popular Ethereum-based metaverse game known for pioneering the play-to-airdrop campaign, now has its own token called ISLAND. This article explains the tokenomics of the crypto asset and its role in the Nifty Island ecosystem.

Understanding ISLAND

ISLAND is set to power the Nifty Island ecosystem. It will be used as a utility token, serving various purposes, such as facilitating in-game purchases. ISLAND has been deployed on Ethereum and was built on the ERC-20 token standard.

Moreover, it will utilize the omnichain technology by LayerZero for seamless expansion to Solana and Ethereum scaling solution Base Chain in the future.

When Did ISLAND Enter the Market?

The developers behind Nifty Island conducted ISLAND’s token generation event on Tuesday morning. However, as they prepared to launch the crypto asset, their X account got hacked, forcing them to delay the long-awaited event. Luckily, they regained access to the account on Tuesday evening and announced that the ISLAND had been deployed on Ethereum and became available for trade.

ISLAND’s Tokenomics

ISLAND, whose total supply is one billion tokens, has been allocated to five groups, including:

Community (38.6%): About 386 million ISLAND tokens have been airdropped to active users of Nifty Island.

Play-to-Airdrop Campaign (12.6%): If you took part in Nifty Island’s play-to-airdrop campaign, which began in March, you might receive a share of the 126 million ISLAND tokens set aside to reward participants of this campaign.

The token amount users will receive depends on the points accumulated by collecting ‘Blooms.’ Also, their ‘Collector’ tier is a key factor in determining the number of tokens to be received. Note that if you have participated in the campaign and hold at least 170 NFTs from the eligible communities that have partnered with Nifty Island, you will likely receive more ISLAND.

Rewards Pools (17.5%): 175 million ISLAND tokens have been set aside to reward players who engage with Nifty Island in the future.

Ecosystem Incentives (8.5%): Nifty Island developers have allocated 85 million ISLAND tokens to attract creators to their project. The funds will be used to support developers who want to launch projects within the Nifty Island metaverse.

Advisors and Investors (30%): Advisors and investors in Nifty Island are set to receive 300 million ISLAND. Of the figure, 71% will have a 2-year vesting period, while 29% will be locked for three years. For starters, a vesting period is when the allocated tokens cannot be transferred or traded.

Nifty Island Team (19.5%): The team behind the project has allocated itself 195 million ISLAND. Like the investors and advisors, team members are blocked from selling their allocations now. However, they will be able to trade 34% of the allocated ISLAND tokens after a year, while the remaining 66% after two years.

The goal of this vesting period is to show the team’s commitment to the long-term success of Nifty Island.

Project Treasury (9.2%): For brand marketing purposes, the Nifty Island team has set aside 92 million ISLAND.

Exchange Liquidity (2.5%): Initially set at 1%, the allocation for centralized exchange liquidity has been increased to 2.5% or 25 million ISLAND tokens.

How Can You Claim ISLAND?

To check eligibility and claim your ISLAND airdrop, visit niftyisland.com/rewards.

Where Can You Buy ISLAND?

As of December 17th, ISLAND is tradable on five centralized exchanges, including WOO X, Gate.io, MEXC, Bitget, and KuCoin. If you wish to buy the token from a decentralized exchange, find it on Uniswap.