TechFlow reports that ZepetoX, a metaverse project jointly developed by South Korean internet giant Naver's metaverse platform Zepeto and Jump Crypto, announced it will airdrop its ZTX token on October 16.
The total supply of ZTX tokens will be capped at 10 billion. The allocation is as follows: 1.0% for initial ZTX liquidity, 4% to MM LIQUIDIT, 4% for genesis airdrops, 5.5% to early investors and advisors (6-month lock-up, 2-year vesting), 9.5% to ZEPETO (1.5-year lock-up, 4-year vesting), 35% for X2E incentives (1-month lock-up, 4-year vesting), 16% to the core development team (6-month lock-up, 3-year vesting), 15% to the ZTX Foundation treasury (no lock-up, 3-year vesting), and 10% to the community fund (1-month lock-up, 3-year vesting).
ZepetoX stated that the best way to increase chances of receiving the genesis airdrop is to participate in the ongoing ZTX program and the existing ecosystem. While specific incentivized activities won't be disclosed, an upcoming PLAYTEST #2 (public) will include airdrop allocations.
ZTX tokens can be used for community governance, purchasing in-game assets, and accelerating player progression within games. Additionally, the platform will implement a token buyback program to enhance the value of the ZTX ecosystem, including token burns (reducing total supply), rewarding players (incentive pools), and allocating a portion to fund the treasury.
Earlier in August, ZepetoX raised $13 million in a seed funding round led by Jump Crypto.
