Cryptocurrency investment platform launches $1 billion airdrop for XRP and holders of the protocol’s original token.
Sologenic (SOLO), an ecosystem built on the XRP Ledger (XRPL) tokenizing a wide range of assets from traditional financial markets, is launching a new non-fungible decentralized token (NFT) marketplace on XRPL.
In order to strengthen the new market ecosystem, Sologenic is transferring 200 million of its original token, SOLO, to investors who already own SOLO or XRP, according to a new announcement from the company.
SOLO is currently trading at $5.36, which means that the total airdrops will be worth $1.07 billion at the time of writing.
To claim the free SOLO tokens, crypto investors need to hold their own and/or XRP on centralized exchanges that support airdrops, or create a “line of trust” from their own wallet to Sologenic.
The airdrop will take place on December 24 and Sologenic will distribute up to 100 million single blocks between eligible XRP and SOLO accounts. Investors who create Trustlines will receive their coins on January 20th.
The new Sologenic Marketplace will enable users to instrument NFTs under eight different categories, including animation, music and sports collectibles. It will also allow users to mint and stamp multiple NFTs under a single transaction fee on the XRP Ledger.
Bob Rass, co-founder of the Sociological Development Foundation, explains,
“Given current user involvement in Sologenic DEX, the level of excitement within the SOLO community and the need for a fast and cost-effective NFT marketplace in the industry, I believe this new decentralized NFT market will be a game changer for both creators and collectors.”
Read more about solo airdrops here.
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