Leveraging its Discord and Telegram integrated automated management tool for token-gated communities, Collab.Land will airdrop its token (COLLAB) on the Optimism network today, February 23rd.
By initiating the distribution of COLLAB through the airdrop, the ecosystem is taking a crucial step towards establishing its decentralized autonomous organization (DAO).
Collab.Land has become a go-to service for approximately two million wallets in more than 40,000 NFT-based communities, including popular ones like Axie Infinity, Aavegotchi, and World of Women. Its token-gated space mechanism verifies whether a wallet holds a specific NFT or token and grants access to the corresponding community accordingly.
Collab.Land’s token holders will have the opportunity to engage in the governance process of the DAO and review applications submitted to its upcoming marketplace, which will enable developers to explore new tools beyond on-chain asset verification and token gating.
James Young, the CEO of Abridged, the company behind Collab.Land, stated that the token distribution on Optimism is just the start of their efforts. He added that their goal is to establish a future where developers, creators, and members can collectively benefit from the network they are building.
The retroactive distribution of COLLAB will be available to four groups, namely verified community members on Discord or Telegram, the top 100 Discord communities of Collab.Land, Collab.Land Patron NFT holders, and Collab.Land Membership NFT holders.
According to Collab.Land’s website, the distribution of COLLAB tokens will consist of 25% of the total supply, which will be retroactively distributed. The remaining 75% of the total supply will be split among the DAO Treasury (50%), the core team, investors, and partners (25%).