Frame Announces Native Token Airdrop for NFT Traders
The crypto community eagerly awaits the return of the bull market, and while they wait, a new wave of “free money” airdrops for crypto users has emerged. Frame, an Ethereum scaling network designed for NFTs, is the latest project to join the trend.
In an announcement on Tuesday, Frame revealed its upcoming launch of the native FRAME token. What’s interesting is that any crypto user who has conducted an NFT transaction on Ethereum in the past two years is eligible to receive varying amounts of FRAME. The size of the airdrop is determined by criteria such as the number and financial volume of NFT trades made, as well as the amount of creator royalties paid.
To claim their FRAME tokens, NFT traders can utilize the online portal specifically created for this purpose. However, these tokens will not be functional until January 31 when they go live alongside the Frame mainnet.
FRAME Token to Drive Governance on the Network
For the time being, the $FRAME token will serve as a means of governing the Frame network. It holds significant value, particularly when considering the Frame Creator Fund. The token will remain locked for transfer until a later stage.
Initially, FRAME tokens will exclusively function for governing the Frame ecosystem and controlling the Frame Creator Fund. At a later date, to be announced, these tokens will be unlocked for transfer, thereby becoming tradable on secondary markets with monetary value.
Many users have already started claiming their free FRAME tokens, with some reporting receiving thousands based on their NFT trading activities.
Frame’s Commitment to Creators and NFT Security
Frame is positioning itself as the layer-2 solution for creators and collectors alike. The project aims to create an ecosystem that prioritizes creators in the buying, selling, and creation of NFTs. Built on the Ethereum scaling network Arbitrum Nova, Frame differentiates itself by enforcing creator royalties at the network level. It also puts a strong emphasis on NFT security and envisions a future where the community itself runs the platform.
As part of its airdrop announcement, Frame revealed a successful initial fundraise led by Electric Capital, alongside participation from prominent figures in the crypto industry such as Pudgy Penguins CEO Luca Netz. However, details regarding the funding amount and the total number of FRAME tokens remain undisclosed.