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Collab.Land to Distribute COLLAB Governance Token to Over 2 Million Users in AirDrop

Collab.Land, a user management platform for NFT communities, has announced a plan to distribute governance tokens called “COLLAB” via an airdrop to over two million users. The platform, which can be integrated into communication tools such as Discord and Telegram, is widely used by NFT projects for decentralized autonomous organization (DAO) operations. The platform enables the management of user permissions using a method called “token gating,” granting access to exclusive channels based on NFT or cryptocurrency holdings.

As of writing, over 43,000 tokenized communities (DAOs) are using Collab.Land, and more than 8 million wallets are connected to the platform. Collab.Land supports 23 blockchains, including Ethereum, Optimism, Arbitrum, Flow, Polygon, and Solana, making it efficient for token holders to propose and vote on governance within DAOs.

Source: Collab.Land

Of the total supply of COLLAB tokens, 25% has been allocated for the airdrop, with verified members, top 100 communities, and relevant NFT holders being eligible to claim the tokens. The top 100 communities will receive 15% of the total supply and consider the use of tokens within their respective DAOs. Notable NFT collections included in the list are Parallel, Axie Infinity, NBA Top Shot, Aavegotchi, World of Women, Adidas, Pudgy Penguins, Doodles, and BanklessDAO.

The token claiming period is from February 23 to May 23, 2023. The COLLAB token will be used for Collab.Land’s governance voting and proposals for the platform’s development and operation. Additionally, the token will be utilized in the review process for applications submitted to the marketplace portal functioning as a platform for Web3 apps.

James Young, CEO of Abridged, the company behind Collab.Land, said that the token distribution was just the beginning and that the platform is working towards a positive future where developers, creators, and members can share the value of the network they are building.

As the cryptocurrency market experiences a gradual return of funds, Collab.Land’s usage has also increased. The platform recorded its highest number of bot installations in February, indicating a bullish market trend. With the increasing adoption of Layer 2 blockchain technology, Collab.Land aims to contribute to the mass adoption of Optimism through its protocol’s retroactive distribution model.

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