The Next 5 NFT Airdrops I'm Watching
Some say the airdrop meta is dead. But in reality, the next year will likely see more than a few high-profile token launches hit the scene.
This is particularly true in the NFT space, where multiple notable projects are on the verge—or seem on the verge—of dropping native tokens.
Below, let’s dive into the top 5 projects I’m watching here and the current pulse of their token plans to get you up to speed 👇
✨ Abstract
The 101
Abstract started out as Frame, a Layer 2 (L2) for NFT users designed to have an in-built liquidity and royalties system. Then in June 2024, Igloo Inc., the parent company of the Pudgy Penguins, acquired Frame and rebranded it to Abstract. With an emphasis on slick UX via account abstraction, the upcoming L2 has expanded its focus to all things consumer crypto, from decentralized social to onchain gaming.
Why I’m Watching
The Frame team initially aimed to launch their network mainnet and the FRAME token airdrop on January 31st, 2024. Those plans were obviously put on ice, but if you were one of the original FRAME claimers, those “pre-existing rewards will be honored in Abstract’s native incentive system” per the builders. This suggests an Abstract token is imminent, and it should be one to watch considering the quality of the talent in and around the Abstract team.
🪄 Magic Eden
The 101
Over the last year, Magic Eden has become a serious challenger to OpenSea in the NFT marketplace arena thanks to impressive user, revenue, and volume stats. While it started as one of the go-to Solana NFT trading spots, much of the platform’s recent growth can be attributed to expanding and becoming a leading hub for nascent, surging scenes like Bitcoin Ordinals and Base NFTs.
Why I’m Watching
In August 2024, Magic Eden announced it was evolving its Non-Fungible DAO and $NFT efforts into the ME Foundation and $ME. The upcoming token will facilitate governance over Magic Eden’s protocols and incentivize users to try Magic Eden’s products. Notably, $ME will only be claimable on mobile via the Magic Eden Wallet, and a test token is being launched in-app this month to acquaint users with how the claiming process will work. That said, it’s a good time to download the wallet if you haven’t already.
🌴 Nifty Island
The 101
Nifty Island is a multiplayer virtual world designed to facilitate player-created games for NFT communities, from battle royales to racing contests. Users can upload and rock custom 3D avatars or use some of the templates for popular supported NFT collections like Pudgy Penguins, Miladies, and Mad Lads.
Why I’m Watching
Nifty Island kicked off its Play-to-Airdrop (P2A) campaign for its upcoming $ISLAND token back in January 2024. In a recent announcement unveiling Solana wallet support, the Nifty Island team confirmed the P2A window would be closing on November 1st, 2024, so a few weeks remain to dive in before that. Also, Magic Eden and Nifty Island just released some collab quests for Magic Eden Wallet users, so it’s a double whammy opportunity to up your $ME and $ISLAND eligibility.
🎨 Shape
The 101
Shape, which I’ve covered recently, is a new L2 for artists and collectors. Built by the team behind the NFT curation platform Deca, Shape aims to incentivize creators to use its network through its Gasback system, where artists and apps can claim 80% of the L2 sequencer fees generated by people who use their smart contracts.
Why I’m Watching
It’s no secret that most L2s eventually decentralize to the community through a token airdrop. While there have been no official plans announced here yet, it seems likely Shape will follow this popular trajectory too. The network also has its bespoke Stack NFT, a dynamic onchain reputation piece that evolves in line with your activity on Shape over time. It’s possible these NFTs could be used as an anti-sybil mechanism in determining airdrop eligibility for real users down the road.
🎴 Zora
The 101
Zora is a media and marketplace protocol for creating and collecting NFTs, designed as a hyperstructure that operates indefinitely onchain. The zora.co platform and Zora mobile app, both of which can be used without needing crypto or a wallet first, serve as social network frontends for Zora. In June 2023, Zora also launched the Zora Network as an Ethereum L2 built for NFT creatives, and since then the chain has notched 250,000 daily active users and +$3 million in creator rewards.
Why I’m Watching
When Zora Network first launched, Zora cofounder Jacob told Bankless regarding a token: “I'd say it's probably going to be until more breakthroughs happen, for now we're just going to be heads down building the best possible product and tools we can.” A little over one year later, has the time come? That remains to be seen. Rumors swirled that “Zora Foundation” domains were recently registered, but they appear to be fakes. That said, Zora will release a token when they’re ready, and as one of the best NFT apps and as the best NFT chain today, I’m excited to see what they cook up when it’s go time.