Drift Labs Launches Coinstore After IEO Subscriptions Surpass 250%

adminMay 6, 2024

DRIFT, DRIFT Labs’ studio token, was oversubscribed by over 250% on its Coinstore IEO, gaining tremendous momentum ahead of the GameFi Studio Token launch.

The IEO follows three pre-sale rounds from DRIFT Labs and is the final step before the tokens are launched. Coin Store And DEX. The enthusiastic response to the IEO, which reached full capacity during the two-day sale period, can be attributed to the enthusiasm of the DRIFT community, Coinstore’s expertise, and Coinstore’s user base.

Paul de Havilland, Chief Marketing Officer, said:

“We’re seeing a lot of enthusiasm for GameFi this cycle, and we know the enthusiasm for $DRIFT, Payout Pursuit, and our studio in general is exciting. “We are aiming high and expecting big things to happen in the near future.”

What is it drift lab?

Web3 game studio Drift Labs aims to retell the story of Web3 game tokens by launching DRIFT, a studio token that differentiates itself from typical in-game tokens by providing utility outside of the game. Players can use DRIFT tokens to access NFT skins and exclusive features to customize their gaming experience. At the same time, non-gamers receive a portion of gaming revenue by staking DRIFT tokens. Additionally, a portion of gaming revenue will be allocated strategically to strengthen the liquidity of DRIFT tokens. Most importantly, since DRIFT is not an in-game reward token, it alleviates the selling pressure that many GameFi tokens face.

Driving core innovation tendency It has a unique token economic structure where the success of the game directly affects the studio tokens and vice versa. In particular, the team ingeniously implemented a two-way isolation mechanism between the game and the studio, effectively reducing sales pressure.

The DRIFT team has valuable insight into effective token economic models, leveraging extensive experience in Web3 games and NFT publishing. Their track record, combined with a profound understanding of the broader cryptocurrency landscape, highlights the team’s commitment to creating projects that are attractive to Web3 gamers and non-gamers alike.

Drift’s first product, Payout Pursuit, is a cross-chain racing game that invites players to compete by recording the fastest lap times in tournaments to win cryptocurrency prizes. The game, which already has a playable beta version, uses a Play-to-Earn (P2E) model that allows players to earn real-world rewards in the form of cryptocurrency for their in-game activities and achievements.

future

DRIFT Labs continues to build its partnership ecosystem, and its hotly anticipated Payout Pursuit is already having racing and drift gamers salivating. As 2024 approaches a bullish year for cryptocurrencies, DRIFT Labs is preparing to acquire GameFi’s existing players and establish itself firmly in the Web3 ecosystem.

At GameFi, the challenge of launching a sustainable token was not lost on the team. As Josh Chand, CEO of Drift Labs, emphasized, the studio’s main goal for the token was to solve problems plaguing Web3 games.

“Many Web3 games have failed due to poor economic design and a greater focus on Web3 integration than game quality and sustainable models. We wanted to do something completely different.”

The DRIFT token has already completed three pre-sale rounds and an IEO and is now launched on Coinstore and SushiSwap.

Amid the persistent challenge of in-game token isolation within the Web3 gaming space, DRIFT Labs’ Web3 studio has emerged as an innovative competitor with a delicate balance designed to maximize benefits for all participants while relieving token sales pressure. As Web3 games continue to evolveSolutions like Studio Token can bridge the gap between siled ecosystems, paving the way for a new era of sustainable token economics and immersive gaming experiences.

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