As the airdrop period for the Solana-based WEN token ended, a quarter of its supply was burned due to unclaimed tokens.
The WEN token, a homage to the cryptocurrency community’s frequent inquiries about new token mintings, was part of a novel experiment involving fractionalized NFTs.
In simpler terms, a poem by @weremeow was transformed into an NFT and then divided into one trillion parts, each part representing a WEN token. This approach led the creators to describe WEN as the first community coin based on fractional NFTs.
This airdrop was conducted through Jupiter, a decentralized exchange aggregator, as a large-scale test for its new launchpad. Jupiter’s platform was set to be utilized again to launch its own token, JUP, targeting nearly a million wallets.
WEN’s airdrop strategy was expansive, targeting over a million eligible Solana wallets. This included active Jupiter users from the past six months, holders of various popular NFT projects on the platform, and Solana Saga smartphone owners.
As of Monday at 10 a.m. EST, the price of WEN had dropped to $0.00012748, a sharp decline post-token burn before climbing back up to its current price of $0.0001362, according to updated CoinGecko data.
The 24-hour range of the token fluctuated between $0.000124 and $0.0001808. This pricing meant that claiming the airdrop, with each wallet entitled to 645,652 tokens, could net users approximately $92, based on the latest price.