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Xai gaming network set to unveil its native token

TL;DR

  • Xai gaming network has announced plans to unveil and launch its native token.
  • Navigating the opportunities in the crypto landscape.

Arbitrum’s gaming network, Xai, has created significant buzz since its announcement in June 2023, and it’s gearing up for a notable event – the season one token airdrop scheduled for December 27, 2023. This strategic timing, just before the turn of the new year, adds to the anticipation surrounding Xai’s entry into the crypto gaming space. Developed in collaboration with Arbitrum developers at Offchain Labs, the Xai initiative comprises the Xai Foundation, its native token, and the underlying blockchain.

Xai network launches its airdrop

At the core of Xai’s ecosystem is its native token, set to become the network’s gas token. This means it will play a vital role in facilitating transaction fee payments within the network. Moreover, the platform envisions its token becoming the primary currency for gamers, enabling them to seamlessly transact for NFTs (Non-Fungible Tokens) and in-game items built on the blockchain. The approaching airdrop on December 27 holds promise for certain NFT holders.

Specifically, owners of Odyssey Legendaries and Vanguards, characterized by their unique profile-picture style, will benefit from the distribution. Additionally, holders of its Sentry Keys, providing the capability to operate nodes powering the network, are also set to receive tokens in this airdrop. While eligibility for the Odyssey Legendaries and Vanguards might have closed, there is still an open window for those looking to qualify through the purchase of Sentry Keys. One noteworthy aspect is the current status of its Foundation’s tokenomics.

Navigating the opportunities in the crypto landscape

According to the project’s website, the tokenomics are undergoing rigorous regulatory and compliance reviews. Once approved for public release, the Xai Foundation plans to share these details through official its social media channels. This emphasis on compliance reflects the project’s commitment to transparency and regulatory adherence. The network, built on Arbitrum, aims to be accessible to a broad audience. Any Ethereum wallet compatible with Arbitrum will be able to seamlessly connect to and leverage the capabilities of the network.

Looking ahead, the Foundation expresses its aspirations to release a dedicated single sign-on wallet solution, streamlining user experience and accessibility. In the context of the broader crypto landscape, airdrops have become commonplace, often perceived as an opportunity for participants to gain “free money.” However, this popularity has also led to an increase in airdrop scams. These scams range from fake wallet-draining links to phishing attempts. Even verified social media accounts are not immune, as they can be compromised to spread fake airdrop links.

Xai has already encountered and addressed a phishing scam, demonstrating the proactive approach taken by the project. In this incident, an unknown malicious actor forked or split Xai’s Sentry Key public repository, creating a duplicate that led users to a phishing scam. The team responded promptly by sending new, legitimate keys to all impacted users. As the Xai network prepares for its token airdrop on December 27, the project stands at the intersection of gaming, blockchain, and decentralized technologies. The collaboration between Offchain Labs and the Xai Foundation positions Xai as a noteworthy player in the evolving landscape of crypto gaming.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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