The WEN Token Airdrop Ends with Unclaimed Supply Burned
As the airdrop period for the Solana-based WEN token ended, a quarter of its supply was burned due to unclaimed tokens. The WEN token, a homage to the cryptocurrency community’s frequent inquiries about new token mintings, was part of a novel experiment involving fractionalized NFTs.
A Unique Approach: Fractional NFTs and WEN
In simpler terms, a poem by @weremeow was transformed into an NFT and then divided into one trillion parts, each part representing a WEN token. This approach led the creators to describe WEN as the first community coin based on fractional NFTs.
Jupiter’s Large-Scale Test with WEN Airdrop
This airdrop was conducted through Jupiter, a decentralized exchange aggregator, as a large-scale test for its new launchpad. Jupiter’s platform was set to be utilized again to launch its own token, JUP, targeting nearly a million wallets.
WEN’s airdrop strategy targeted over a million eligible Solana wallets, including active Jupiter users from the past six months, holders of various popular NFT projects on the platform, and Solana Saga smartphone owners.
Price Movement and Airdrop Benefits
As of Monday at 10 a.m. EST, the price of WEN had dropped to $0.00012748 before climbing back up to its current price of $0.0001362. The 24-hour range of the token fluctuated between $0.000124 and $0.0001808. Claiming the airdrop could net users approximately $92 based on the latest price.
Hot Take: WEN Airdrop Experiment Shows Potential for Fractional NFTs
The WEN token airdrop experiment demonstrated the potential of fractional NFTs in creating a community coin. By dividing an NFT into one trillion parts, each representing a WEN token, the creators showcased an innovative approach to token distribution. Although a quarter of the supply was burned due to unclaimed tokens, the project attracted significant attention and participation. Furthermore, Jupiter’s involvement in the airdrop as a test for its launchpad highlights the platform’s commitment to exploring new possibilities in the crypto space. Overall, this experiment serves as an exciting example of how fractionalized NFTs can shape the future of cryptocurrency.
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