Drift Labs Launches on Coinstore After Its IEO Was 250% Oversubscribscribed

General

DRIFT,
the
studio
token
behind
DRIFT
Labs,
was
oversubscribed
by
more
than
250%
on
its
Coinstore
IEO,
creating
immense
momentum
as
the
GameFi
studio
token
heads
into
launch.

The
IEO
followed
DRIFT
Labs’
three
presale
rounds
and
is
the
last
step
before
the
token
launched
on Coinstore and
DEXes.
The
overwhelming
response
to
the
IEO,
which
was
fully
subscribed
well
inside
the
two-day
sale
period,
can
be
attributed
to
enthusiasm
among
the
DRIFT
community,
the
professionalism
of
Coinstore,
and
Coinstore’s
user
base.

Chief
Marketing
Officer
Paul
de
Havilland
went
on
to
say:

“We
see
a
lot
of
enthusiasm
around
GameFi
in
this
cycle,
and
we
see
the
enthusiasm
for
$DRIFT,
for
Payout
Pursuit,
and
for
our
studio
generally
is
exciting.
We’re
aiming
high
and
hoping
for
big
things
in
the
near
future.”

What
is Drift
Labs?

Drift
Labs,
a
Web3
game
studio,
aims
to
retell
the
story
of
Web3
gaming
tokens
by
introducing
its
studio
token,
DRIFT,
which
distinguishes
itself
from
typical
in-game
tokens
by
offering
utility
outside
the
game.
Players
can
tailor
their
gaming
experiences
with
DRIFT
tokens,
accessing
NFT
skins
and
exclusive
features.
At
the
same
time,
non-gamers
stake
DRIFT
tokens
to
receive
a
percentage
of
the
game’s
revenue.
Furthermore,
a
portion
of
the
game’s
earnings
is
strategically
allocated
to
bolster
the
DRIFT
token’s
liquidity.
Most
importantly,
DRIFT
is
not
an
in-game
rewards
token,
which
alleviates
the
sell
pressure
many
GameFi
tokens
face.

The
core
innovation
driving DRIFT lies
in
its
unique
tokenomic
structure,
where
the
success
of
the
game
directly
influences
the
studio
token,
and
vice
versa.
Notably,
the
team
has
ingeniously
implemented
a
two-way
insulation
mechanism
between
the
game
and
the
studio,
effectively
reducing
sell
pressure.

Leveraging
their
extensive
experience
in
Web3
gaming
and
NFT
publishing,
the
DRIFT
team
possesses
invaluable
insights
into
effective
tokenomic
models.
Their
track
record,
coupled
with
a
profound
understanding
of
the
broader
crypto
landscape,
underscores
the
team’s
commitment
to
creating
a
project
that
appeals
to
both
Web3
gamers
and
non-gamers
alike.

Drift’s
first
offering,
Payout
Pursuit,
is
a
cross-chain
racing
game
that
invites
players
to
compete
by
recording
their
fastest
lap
times
in
a
tournament
to
win
crypto
prizes.
The
game,
which
already
has
a
playable
beta
version,
employs
the
play-to-earn
(P2E)
model,
where
players
can
earn
real-world
rewards
in
the
form
of
cryptocurrencies
for
their
in-game
activities
and
achievements.

The
future

DRIFT
Labs
continues
to
build
its
ecosystem
of
partnerships
and
its
hotly
anticipated
Payout
Pursuit
already
has
racing
and
drifting
gamers
salivating.
As
2024
builds
towards
a
bullish
year
for
crypto,
DRIFT
Labs
is
preparing
to
take
on
the
established
players
in
GameFi
and
cement
itself
in
the
Web3
ecosystem.

The
challenge
of
launching
a
sustainable
token
in
GameFi
was
not
lost
on
the
team.
As
Josh
Chand，CEO
of
Drift
Labs
emphasized,
the
studio’s
primary
goal
for
its
token
was
to
address
the
challenges
that
plagued
Web3
gaming,
stating:

“Many
Web3
games
failed
due
to
poor
economic
design,
focusing
more
on
Web3
integration
than
game
quality
and
sustainable
models.
We
wanted
to
do
something
entirely
different.”

The
DRIFT
token
has
already
completed
three
presale
rounds,
an
IEO,
and
has
now
launched
on
Coinstore
and
SushiSwap.

Amid
the
persistent
challenge
of
in-game
token
isolation
within
the
Web3
gaming
space,
DRIFT
Labs’
Web3
studio
emerges
as
an
innovative
contender,
featuring
a
delicate
equilibrium
designed
to
mitigate
token
sell
pressure
while
maximizing
benefits
for
all
participants. As
Web3
gaming
continues
to
evolve,
solutions
like
studio
tokens
may
bridge
the
gap
between
isolated
ecosystems,
paving
the
way
for
a
new
era
of
sustainable
tokenomics
and
immersive
gaming
experiences.

Drift
Official
Media

About Coinstore

Accessibility.
Security.
Equity.

As
a
leading
global
platform
for
cryptocurrency
and
blockchain
technology, Coinstore seeks
to
build
an
ecosystem
that
grants
everyone
access
to
digital
assets
and
blockchain
technology.
With
over
7
million
users
worldwide, Coinstore
aims
to
become
the
preferred
cryptocurrency
trading
platform
and
digital
service
provider
worldwide.

Coinstore
Social
Media

Drift Labs Launches on Coinstore After Its IEO Was 250% Oversubscribscribed

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