- Xai gaming network built on Arbitrum conducted a large token airdrop, distributing 125M XAI tokens worth ~$70M to eligible users
- Recipients included NFT holders who could claim hundreds of dollars worth of XAI, and validators who received ~$925 worth
- Xai aims to be a hub for blockchain-based competitive gaming, with launch titles like Final Form card game and LAMO online world
The Xai gaming network recently conducted the first major gaming token airdrop of 2024, distributing its new XAI token to eligible users on the Arbitrum scaling network. The airdrop rewarded early adopters and valued the tokens at over $70 million.
What is Xai?
Xai is a layer-3 network built on top of Arbitrum, an Ethereum scaling solution. The Xai Foundation developed the network in collaboration with Offchain Labs and game studio Ex Populus.
The Airdrop Breakdown
- Xai airdropped 125 million XAI tokens, representing 5% of the total supply
- Eligible recipients included NFT holders and validators running Sentry Nodes
- NFT holders could claim hundreds of dollars worth of XAI
- Validators received around $925 worth of XAI
- The token debuted at $0.68 then rose to $0.77 before falling to $0.57
- The airdrop had an estimated $70 million value with XAI’s $154 million market cap
The Road Ahead
While Xai has hinted at a Season 2 of airdrops, details remain unclear. The network also partnered with esports organization Team Secret to promote competitive gaming.
Xai’s First Games
Xai’s launch games are being developed by Ex Populus and include:
- Final Form: A deck-building card game with auto-battler elements
- LAMO: A cartoonish online world where characters battle each other
LAMO already launched physical toys based on gaming influencers that unlock characters in-game.
Conclusion
The XAI airdrop rewarded early adopters of the new Xai gaming network built on Arbitrum. The airdrop distributed an estimated $70 million worth of tokens to participants. Xai aims to be a hub for blockchain-based competitive gaming.
