Executive R0AR Society (ERS) NFT holders will be eligible for a $1R0R airdrop following the snapshot on May 10th.
Any wallets included in the snapshot will be airdropped $1R0R tokens based on the number of NFTs they hold. The $1R0R token has rallied by over 900% in the past couple of weeks, pushing its capitalization to just under $300 million.
The demand for both ERS NFTs and $1R0R has surged since the team announced a series of milestones and use cases. In a recent AMA, the R0AR team outlined exactly how the airdrop would be carried out and how the tokens would be allocated.
According to the AMA, every ERS NFT holder will receive tokens based on an AI algorithm’s calculations. For the first NFT in a wallet, there is a set amount, and then a slightly lower amount for every additional NFT. As a result, many holders have started to decentralize their NFT stash by moving tokens to separate wallets.
With the ERS NFT floor price increasing and the $1R0R price surging, the airdrop has created plenty of excitement. It has occasionally been compared to the highly successful $PENGU token airdrop, which was carried out by the Pudgy Penguins team earlier in the year.
ERS NFT Floor Price Surges as Snapshot Date Looms
The ERS NFT floor price on OpenSea has been steadily increasing. The demand has been driven partly by long-term holders and traders looking to gain exposure to the $1R0R airdrop before the May 10th snapshot.
For weeks, the number of listed ERS NFTs has been below 3%, suggesting that most holders have no interest in parting with their NFTs. This is likely due to the long-term utility planned for the tokens, which includes a 20% staking bonus and access to R0AR’s AI tools.
As of this writing, the floor price for ERS NFTs is ETH 0.1, which is just under $200. This number has been consistently increasing, and the lack of listed NFTs appears to be contributing to the bullish price action.
Anyone looking to gain exposure to the airdrop must purchase one of the ERS NFTs through OpenSea and then hold it in their wallet without listing it for sale.
$1R0R Token Rallies over 900% Since Drain
A straightforward smart contract drain carried out by an unknown external developer saw the price of $1R0R plummet by over 80% in mid-April. The price crash sent shudders through the community, and in many cases, it would have marked the end of the token. However, the R0AR team responded quickly and deployed a recovery plan as a series of token buybacks.
Since the buyback plan was announced, the price of $1R0R has recovered well above the pre-drain valuation, and its market capitalization has increased by around 900%. As the chart shows, the bullish momentum has been consistent for over two weeks, with most technical indicators pointing toward further price growth.
Anyone who purchased $1R0R near the bottom following the drain is now sitting on considerable profits. In fact, a $1000 investment at the bottom would now be worth nearly $10,000 if we assume that ETH’s price remained the same.
The surge in $1R0R has only added to the excitement surrounding the ERS NFT airdrop, as the value of the tokens received by holders has been increasing with every green candle.
$1R0R’s market capitalization has surged by nearly 10X since the drain. Source: Dex Screener
The Future of ERS NFTs and the Broader R0AR DeFi Ecosystem
The ERS NFT airdrop is just the first of many plans for rewarding $R0AR community members. The value of $1R0R tokens has been steadily increasing, which has added to the value of the airdrop. In turn, this has resulted in the appreciation of the ERS NFT floor price, with buying pressure far exceeding the appetite to sell.
The future of the broader R0AR DeFi ecosystem will see expanded utility for the ERS NFTs and $1R0R. For now, the main narrative for R0AR community members is the airdrop, and time is running out for newcomers to get their wallet addresses on the list before the snapshot on the 10th of May.
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