Summary: In a recent announcement, the NFT lending platform Arcade revealed its plan to airdrop ARCD tokens to select NFT holders, with a significant portion of its total supply up for grabs. This strategic move aims to reward active participants in the NFT space and increase engagement with the platform.

Unveiling the “Clash of Clans” Airdrop

Arcade, a prominent player in the digital collectibles lending market, is making waves with its latest airdrop initiative dubbed the “Clash of Clans.” The company has set out to distribute a substantial 3% of its ARCD tokens to the owners of certain NFT collections. The initiative is designed to engage the community and provide tangible rewards to its members.

Snapshot and Token Distribution Phases

The Arcade team is scheduled to take a snapshot on February 19 at 8:00pm UTC, marking the start of the token distribution process. The process will be split into two distinct phases: a whitelist phase and a public claim phase. Initially, 2,000 wallets holding NFTs from collections such as Pudgy Penguin and Lil Pudgy will be randomly chosen. Following that, another 2,000 wallets will be selected based on their connection to Solana or Bitcoin wallets, featuring NFTs from collections like Mad Lads and Tensorians.

Claiming the ARCD Tokens

Eligible participants will have the opportunity to claim their ARCD tokens during the Claim Raffle Whitelist phase, which takes place on February 21 from 6:00 pm to 8:00 pm UTC. The public claim phase will commence shortly after at 9:00 pm UTC, remaining open until all unclaimed spots from the whitelist phase are filled.

Arcade’s Market Position

Arcade, previously known as Pawn.fi, has established itself as a key platform for borrowing against high-value NFTs. In December 2021, the platform raised $15 million in a Series A round led by Pantera Capital, with additional support from notable investors such as Castle Island Ventures and Franklin Templeton Blockchain Fund. This funding round underscores the market’s confidence in Arcade’s innovative approach to NFT collateralization.

Related Developments

In related news, Magic Eden has introduced ‘Emmy,’ a new multi-chain wallet designed to simplify NFT trading across various blockchains. This development highlights the growing trend of user-friendly solutions in the NFT marketplace, aiming to make the trading experience more accessible and streamlined for users.