The XAI Airdrop conducted on the Arbitrum platform has resulted in gamers receiving a significant amount of $70 million worth of tokens.
Xai is positioned as a "layer-3" network that operates on Arbitrum, a layer-2 scaling network designed for Ethereum. This multi-layered approach allows for enhanced scalability and efficiency in the Xai ecosystem.
As per the Xai Foundation, they are making available 125 million XAI tokens, which accounts for 5% of the total token supply, to eligible individuals. These individuals include owners of specific Xai NFTs and operators of Sentry Nodes, which are validators that assist in the network's functioning. Additionally, cryptocurrency exchange Binance offered its customers the opportunity to earn XAI token rewards by staking other cryptocurrencies prior to the launch.
According to CoinGecko, XAI initially started trading at a price slightly below $0.68 on Tuesday morning. It then reached a peak value above $0.77 before subsequently declining to its current price of $0.57. This represents a daily decrease of 15% and a 20% drop from its highest point.

Airdropped Tokens Volatility

Airdropped tokens are well-known for their initial volatility, however, despite this, the total value of the airdrop currently stands at nearly $70 million. As of now, the market capitalization is slightly above $154 million, with a circulation of over 277 million tokens, including those distributed through the airdrop.

Eligible Claimers

Sentry Node operators and certain NFT owners have the opportunity to receive a substantial amount of XAI tokens. For instance, Node operators can claim 1,658 XAI per key they own, which is equivalent to approximately $925 based on the current price. Vanguard NFT owners have the option to claim 1,307 XAI, amounting to around $730, while Legendary NFT owners can claim 290 XAI, valued at approximately $162.

Future Airdrop Hints

The Xai Foundation has hinted at the possibility of a second season of airdrop token rewards for users. However, the specifics of how network users can earn these additional rewards have not been disclosed yet. Some users who own Xai NFTs of a lower tier than the "Vanguard" or "Legendary" tiers have expressed their dissatisfaction on social media, as they feel excluded from the initial airdrop.

Xai Network Partnership

The Xai network, created by the Xai Foundation in partnership with Offchain Labs and Ex Populus, has garnered attention for its collaboration with Team Secret, a well-known esports organization. This collaboration aims to promote and engage in the network, particularly in the realm of competitive gaming.

Xai Network Utilities

Xai Foundation, in partnership with Ex Populus, is currently working on the development of their initial games. One of these games is Final Form, a deck-building card game that incorporates auto-battler elements. Additionally, Ex Populus is also working on LAMO, an online world where players can engage in battles using cartoonish characters. Notably, LAMO has already launched physical toys that are inspired by popular gaming influencers such as Ninja and Dr. Disrespect. These toys can be used to unlock corresponding characters within the game.

Conclusion

The Xai network had an incredible year in 2023, with a testnet that broke records in the blockchain industry and a node sale that sold out quickly. And are not stopping there.
In 2024, Xai network are continuing to expand and establish their network as the leading blockchain platform for gaming. Keep an eye out for exciting partnership announcements as the network continue to grow across the blockchain.