Nifty Island Debuts ISLAND Token: Revolutionizing Web3 Metaverse Gaming

18. Dec 2024 Posted by Bakshi A. on News

Nifty Island has long been a hub for vibrant Web3 communities, seamlessly blending creativity with immersive gaming. Now, it has taken a bold step forward with the launch of ISLAND, its Ethereum-based utility token designed to power its metaverse economy.

What Is ISLAND?

ISLAND is the cornerstone of Nifty Island's gaming metaverse, driving in-game utility and fostering demand. Built on Ethereum as an ERC-20 token, ISLAND has a total supply of 1 billion tokens. Its interoperability is enhanced by LayerZero’s omnichain technology, enabling future compatibility with Ethereum’s Layer-2 Base network and Solana.

Key Launch Highlights

The ISLAND token officially debuted on Tuesday, December 17, following a brief delay caused by the hacking of Nifty Island’s official X (formerly Twitter) account. Despite the hiccup, the launch has positioned ISLAND as a pivotal player in Web3 gaming.

Airdrop and Distribution: Who Gets ISLAND?

The distribution of ISLAND is structured to reward community participation and engagement. Here’s how the allocation breaks down:

  • Community (38.6%): Over 400 million tokens are designated for rewards, ecosystem incentives, and Nifty Island’s pioneering “play-to-airdrop” campaign.
  • Play-to-Airdrop Campaign (12.6%): Gamers who collected in-game resources, Blooms, during a nine-month campaign, were rewarded with tradable ISLAND tokens. Eligibility extended to holders of select NFTs from partner communities, with snapshots taken on March 25 and December 16.
  • Rewards Pool (17.5%): 175 million tokens will fuel real-time earnings for future gameplay.
  • Ecosystem Incentives (8.5%): Designed to attract developers and creators, this allocation includes 10 million tokens distributed through Animoca Brands’ Mocaverse community.
  • Investors and Advisors (30%): Backers have their tokens locked for up to three years, demonstrating Nifty Island's long-term commitment.
  • Team Allocation (19.5%): Similar to investors, team tokens are subject to extended lock-up periods to align with project growth.
  • Project Treasury (9.2%): Reserved for expansion and promotional activities.
  • Exchange Liquidity (2.5%): Allocated to ensure smooth trading on centralized exchanges.

Staking ISLAND: Unlocking Exclusive Benefits

ISLAND holders who stake their tokens on Ethereum or Base can access a range of exclusive benefits, including:

  1. Enhanced Rewards: Higher earning rates for gameplay rewards.
  2. Exclusive Resources: Expanded in-game islands and immersive features.
  3. Consumables: In-game boosts to enhance gameplay and earnings.
  4. Special Prizes: Partner-backed rewards and Bloom bonuses.
  5. Governance Rights: Influence on platform decisions, scaled by staking amounts.

Claiming and Using ISLAND

Players can claim their ISLAND tokens directly on the Nifty Island website. As the ecosystem grows, additional utilities and perks for token holders are expected to roll out, further integrating ISLAND into the platform's expansive metaverse vision.

Why ISLAND Matters

With its focus on rewarding genuine engagement, empowering creators, and fostering community governance, ISLAND is more than just a token—it’s the lifeblood of Nifty Island’s evolving ecosystem. By blending gaming with Web3 technology, Nifty Island is setting a new standard for metaverse economies.