Hyperliquid, a decentralized platform, airdropped 4,600 Hypurr NFTs to early users and contributors on September 28, 2025, as a reward for their involvement in the Genesis event from November 2024. The distribution was detailed: 4,313 NFTs went to Genesis event participants, 144 were reserved for the Hyperliquid Foundation, and 143 were allocated to core contributors and artists, including 16 personally created by CEO Jeff Yan to blend artistic vision with community identity.
The airdrop triggered a massive market response, with the NFT floor price surging beyond $100,000 and a record sale of Hypurr #21—featuring rare "Knight Ghost Armor" traits—for $467,000 in HYPE tokens. This activity fueled a 24-hour trading volume of $44.6 million, highlighting intense demand. Concurrently, the HYPE token experienced a dramatic price surge, climbing from $3.81 to nearly $55, driven by the NFT integration and DeFi advancements within Hyperliquid's ecosystem.
The event underscores a shift toward utilitarian NFT models, with potential for governance or protocol benefits, drawing parallels to historical NFT booms like the Bored Ape Yacht Club. Community reactions ranged from excitement over free assets worth over $50,000 to discussions on market equilibrium, reflecting broader crypto engagement trends.
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