- Optimism, a Layer 2 Ethereum scaling solution, announced its fourth token airdrop worth $41 million to reward NFT artists. The airdrop distributed over 10 million OP tokens to creators of popular NFT projects.
- The airdrop gave rewards based on the popularity of artists’ NFT projects measured by gas fees spent interacting with them. Rewards were capped at 6,000 OP per address, worth about $23,640.
- This was Optimism’s fourth token airdrop so far, following others in May 2022, February 2023, and September 2023. Optimism says roughly 560 million OP remain for future community incentives.
Optimism, the Layer 2 scaling solution for Ethereum, has announced its fourth token airdrop focused on rewarding NFT artists. The airdrop distributed over 10 million OP tokens worth nearly $41 million to creators of popular NFT projects.
Details of the Fourth Airdrop
The airdrop gave out 10,343,757.81 OP tokens, worth about $40.8 million, to 22,998 addresses. NFT artists have until February 2025 to claim their rewards.
According to Optimism, “A great society needs artists. This airdrop is a thank you to the artists and their ability to bring creativity onchain. Your contributions play a vital role in the Optimism Collective.”
Eligibility and Rewards Structure
The airdrop was for artists who created NFTs on Ethereum or Optimism’s Superchain from January 2023 to January 2024. Rewards were based on the popularity of the NFT projects, determined by how much gas fees others spent interacting with the NFTs.
NFTs that generated 1 ETH in gas on Superchain earned their creators 5,000 OP. For 1 ETH gas on Ethereum mainnet, artists received 50 OP. Rewards were capped at 6,000 OP per address, worth approximately $23,640.
Bonuses could increase rewards by 50% or 1.5x. Qualifying activities included early NFT contract creation, recent transfers, Superchain activity, and high transfer fees.
Optimism’s Airdrop History
This is Optimism’s fourth token airdrop so far. The first was in May 2022, the second in February 2023, and the third in September 2023.
The previous airdrop distributed 19.4 million OP worth $26 million at the time to nearly 32,000 addresses. It rewarded engagement with the Optimism Collective DAO.
Optimism says roughly 560 million OP remain for future airdrops. The project aims to refine its airdrop mechanisms over time to encourage positive community behaviors.
The OP Token
At the time of writing, OP trades at $3.94, up 0.71% over 24 hours. It has a circulating supply of 957.4 million and a total supply of 4.3 billion.
