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Home CRYPTO

Faraway’s RIFT Airdrop Sparks Outrage Among NFT Holders

by Sanjay Bijoy
1 year ago
in CRYPTO, NEWS
Reading Time: 7 mins read
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Faraway’s latest airdrop for its AI-driven token RIFT has left many NFT holders fuming after they were left out of the token distribution. While the project’s market capitalization soared to $300 million shortly after launch, the distribution controversy has dominated discussions, with major holders expressing their frustration online.

NFT Holders Left Empty-Handed

Crypto gaming firm Faraway, which recently acquired Yuga Labs’ Legend of the Mara and HV-MTL games, rolled out an airdrop for its new token RIFT. However, many prominent NFT holders were stunned to find themselves excluded from the token distribution.

One of the most vocal critics was Dingaling, a well-known NFT whale who owns a significant stake in Faraway and Yuga-related assets. He took to X (formerly Twitter) to vent his frustration, stating:

“Holding 264 Mara, 263 Otherdeeds, 198 HV-MTL. Zero $RIFT airdrop LMAO. Amazing.”

His holdings, valued at roughly 63 ETH (around $200,000), include assets from both Faraway and Yuga ecosystems. While his Otherdeeds NFTs remain under Yuga’s control, they are closely tied to the gaming ecosystem that Faraway has now taken over.

Faraway Labs NFT gaming controversy

Spencer Tucker’s Harsh Response Fuels Backlash

Faraway’s Chief Product Officer, Spencer Tucker, didn’t help the situation. In a now-deleted post, he bluntly told disgruntled users:

“Pay attention to instructions given week over week for over a month or GTFO.”

Dingaling responded with a brief but telling: “Message received.”

Tucker’s comments only intensified the frustration within the community. Many felt the company’s handling of the airdrop lacked transparency and respect for those who had invested time and money into the ecosystem.

Airdrop Requirements Raise Questions

To qualify for the airdrop, users had to meet strict criteria, including:

  • Holding HV-MTL NFTs or the $J3FF AI agent token
  • Connecting their wallets to the Faraway website before Jan. 24
  • Some users were also selected through an application process released on Jan. 23

Despite multiple Discord announcements reminding holders to complete these steps, many claim they either didn’t receive clear instructions or were unfairly excluded.

A large portion of the RIFT token allocation was directed towards various community segments:

Allocation Category Percentage
HV-MTL Community 10%
Future HV-MTL Activations 10%
F Node Rewards on FCHAIN 20%
Future Community Activations 14%
Partner Communities 0.8%

Only 10.8% of the total airdrop supply has been unlocked so far, meaning more distributions could come in the future. But for now, that’s little consolation to those who missed out.

The Growing Frustration with Airdrops

The RIFT fiasco isn’t the first time an airdrop has left users feeling betrayed. Across the crypto space, airdrops have increasingly become complex, restrictive, and frustrating for users.

NFT whale Dfarmer previously criticized these convoluted requirements, sarcastically posting:

“If you make us get a role in Discord, expose our wallets to attack vector, inscribe our social security number in the next block, and name our firstborn after you—it is NOT an airdrop.”

The sentiment is clear: users just want straightforward token distributions. Instead, many protocols are implementing barriers that make claiming tokens difficult, frustrating, or outright impossible for some holders.

The Silence from Faraway

Despite the uproar, Faraway Labs has yet to respond publicly. Neither Spencer Tucker nor the company has addressed the growing frustration in the community.

Meanwhile, Adam Hollander, another long-time Yuga supporter, expressed his disappointment, saying:

“The fact I didn’t get a $RIFT allocation after the legitimately traumatizing amount of time I spent on HV-MTL and LotM is perhaps the most offensive thing that’s ever happened to me in web3.”

For now, RIFT continues to trade at $0.09, down from its initial highs, with a current market cap of $92 million. But while the token may recover, Faraway’s reputation among NFT holders has taken a serious hit.

Sanjay Bijoy

Sanjay Bijoy

Sanjay is a seasoned wordsmith with a passion for the Entertainment niche. With a knack for crafting captivating content, he brings stories to life and keeps readers hooked. Sanjay's expertise in this dynamic field ensures every word he writes is an unforgettable experience.

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