Curated News
By: NewsRamp Editorial Staff
May 06, 2024
DRIFT Token Oversubscribed by 250% on Coinstore IEO
TLDR
- DRIFT token was oversubscribed by more than 250% on its Coinstore IEO, creating immense momentum as the GameFi studio token heads into launch.
- DRIFT Labs introduces studio token DRIFT, offering utility outside the game. Players use DRIFT tokens for NFT skins and exclusive features.
- DRIFT aims to address challenges in Web3 gaming, creating a sustainable token with benefits for gamers and non-gamers, paving the way for a new era of sustainable tokenomics.
- Payout Pursuit, a cross-chain racing game by DRIFT Labs, invites players to compete to win crypto prizes, employing the play-to-earn (P2E) model.
Impact - Why it Matters
The oversubscription of the DRIFT studio token indicates strong community support and interest in GameFi. The unique tokenomic structure offers utility outside the game and provides a sustainable model for Web3 gaming, bridging the gap between isolated ecosystems and paving the way for immersive gaming experiences.
Summary
The DRIFT studio token was oversubscribed by more than 250% on its Coinstore IEO, creating momentum as the GameFi studio token heads into launch. The overwhelming response to the IEO can be attributed to enthusiasm among the DRIFT community and the professionalism of Coinstore. DRIFT Labs aims to retell the story of Web3 gaming tokens by introducing its studio token, DRIFT, which offers utility outside the game and provides a unique tokenomic structure. Payout Pursuit, the first offering from DRIFT Labs, is a cross-chain racing game that employs the play-to-earn model, allowing players to win crypto prizes.
Source Statement
This curated news summary relied on this press release disributed by BlockchainWire. Read the source press release here, DRIFT Token Oversubscribed by 250% on Coinstore IEO
