TON Foundation Announces Huge Airdrop: Everything You Need to Know

A recent development in the cryptocurrency world has caught the attention of many as the TON Foundation conducted a $600K airdrop for active NFT traders and holders. This move marks a significant milestone in the crypto community’s journey with cryptography. According to a post by the TON Foundation on X, they distributed 105,600 TON tokens to active traders on Getgems, xRare, and Ton NFT Diamonds marketplaces.

Let’s delve deeper into the eligibility criteria, snapshot, and important details of this airdrop.

TON’s Airdrop For NFT Traders: What’s Included?

As per the TON Foundation’s announcement on X, the snapshot for the 105,600 TON airdrop was taken on April 23 at 8:00 AM CEST. Traders actively engaging on the mentioned NFT marketplaces between April 11 (2 PM CEST) to April 23 (8 AM CEST) were eligible for this airdrop. NFT collection owners, non-wallet addresses, and Sybil wallet addresses did not receive the airdrop. Additionally, all NFT collections on these platforms were approved for the event.

Interestingly, the TON Foundation did not implement a point system for rewarding airdrop participants. The rewards were based on various on-chain metrics for users. Traders accumulating 2-4 NFT collections received 1 point, and this increased as their collection count grew. The points were also influenced by the number of NFT deals made, trading volume, and other factors. Participants could claim their rewards in TON, the Ton blockchain’s native token.

Users with points ranging from 2-5 would receive 40 TON tokens as a reward. The more points a user had, the higher the rewards they could acquire. This initiative aimed to boost the NFT market amid a slowdown, attracting significant attention from the crypto community.

Despite the exciting airdrop, the TON token’s price experienced a decline in value.

Also Read: Worldcoin Seeks OpenAI Partnership Amid Regulatory Probe

TON Price Decline

As of the latest data, the TON token’s price fell by 8.81% in the last 24 hours and is currently trading at $5.22. This drop aligns with the broader downtrend in the crypto market today, contrasting the positivity brought by the recent development.

The TON Foundation continues to make strides with recent launches like Memelandia, aiming to introduce institutions to meme coins, further enhancing their cryptographic journey and sparking optimism among cryptocurrency enthusiasts.

Also Read: XRP To Hit $1.4 In July: Analyst Predicts Despite Crypto Market Dip

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