Neo Tokyo News: 2 Feb - 7 Feb 2025

CitCap $BYTES Can Now Be Claimed

Neo Tokyo News: 2 Feb - 7 Feb 2025

In this issue:

  • This Week in Neo Tokyo: CitCap $BYTES Can Now Be Claimed (by PhoenixxDown)

  • Berachain: Another Airdrop You Didn’t Get (by Flower83)

This Week In Neo Tokyo:
CitCap $BYTES Can Now Be Claimed

The claim is now live for Citizen Capital $BYTES.

If you staked your $BYTES to partake in CitCap raises, you can now claim back your full amount. However, due to reasons, there’s a cap on the total amount that can be claimed—meaning, in plain English, once the well is dry, you’re out of luck until the remainder becomes available. And as of now, there’s no set timeframe for when that will be.

So with that said, it’s imperative you act now and claim yours. At the time of writing, 32.25% of the amount has already been refunded, meaning you’re still well within time. However, go do it now—ETH gas is at 1.125 gwei, so transaction costs are low, and rumor has it these $BYTES will come in handy for whatever BytesStreet has in store. That goes for Citizens and Non-Citizens alike!

This Week’s Neo Tokyo Content

Interlinked #67 - Ben and Cryptoetheus are once again joined by Felix Norden, which always promises to be a must-watch. This episode dives into AI prophecies and something many outside our walls have been clamoring for—a $BYTES update! The trio explore AI’s potential to influence gaming, creating personalized experiences, and possibly leading to a future where humans engage more in virtual worlds.

Market Monday - Bears are victory lapping, and the latest episode was titled “Pack Your Bags, This Was It!” in memory of our Alt Season that never came (according to 99% of CT, it seems). While that’s obviously hyperbolic bearish talk (or is it?), there was something to smile about—EstateX, the RWA protocol & L1 blockchain, joined us to lift our spirits. Thankfully, our guests had a very positive outlook on what’s ahead! Listen back here.

NT x Unfungible Space - With all the doom and gloom floating around, you may be wondering… is Web3 Gaming actually GMI? It’s a fair question, given the circumstances. Listen back to this discussion with industry experts who will (hopefully) put all your worst nightmares to rest.

Pindora AMA – Pindora is building LUCIA, a private AI designed to manage social media, track wallets, recall chats and documents, and handle personal tasks—all with a focus on privacy and personalization. With their token launch coming soon, CEO Andreas Pensold joined the team to break it all down.

Legend of Arcadia AMA – The co-founder of the play-for-stakes protocol and gaming studio sits down to share updates, including insight into their current competition. Listen back here.

Metropolis World AMA – The co-founders of this curated 360° universe blending gaming and commerce joined the AMA team to discuss customizable avatars, trading digital assets, and exploring a world filled with games, quests, and entertainment. Listen back here.

Short Scoops

Behold, the 10 Commandments of Crypto, bestowed upon thee by our dev, Thrasher. Heed the wisdom and use it to your advantage as we progress through this bull/bear.

Congrats to acaado! They were the first to find the Light in the Memory Sanctum—and just look at what they got for their troubles. Beautiful.

LeBoomington dropped a nuke on $BYTES deniers. (Yes, there are still some out there.) Check out how $BYTES power our ecosystem—and this is just the start.

Did you miss this week's NT Plays event? A $5K prize pool was up for grabs with Superverse & SuperChamps—keep an eye on the NT Plays announcement channel for the next one.

What is a Tech Pack? It’s what makes NT Merch a cut above the rest—all done in-house. Shibuya Mall explains:

Until next next week, citizens.

Berachain: Another Airdrop You Didn’t Get

Image Credit: @BoldLeonidas

Farming projects in web3 is a bit like throwing money at random memecoins at sub $1m market cap. Which itself is a bit like spinning a roulette wheel while only betting on a certain number at a time.

Must be nice when everything we actively farm turns to dust and everything we fade brings people generational wealth.

Such was the case with the latest cabal driven, insider allocated, price manipulated, and KOL-distributed airdrop which, like many others, ended up not being claimable by most of the people I know.

The TGE for Berachain’s token $BERA went live on Feb 6th and was immediately FUDded to the ground on social media.

The price action after the $BERA token went live was also not that different, even though it is surprisingly still trading around $1B mcap.

Here are some reasons that might explain both the FUD as well as “down-only” price action:

Concerns about the distribution of tokens, with claims that 80% of the supply was allocated to insiders. They must've learned a thing or two from Trump apparently, but just hid it better. This also then extended naturally into accusations of the entire tokenomics being in the hands of just a few groups, leading to doubts about the project's decentralization.

Criticism of the airdrop criteria, suggesting it left many participants out. This is nothing new when it comes to many airdrops, but this time people were furious about:

  • testnet participants being left out entirely

  • random KOL’s getting huge bags for doing nothing

  • and some weird NFT collections nobody ever heard of getting a sizable allocation.

Disproportionate rewards for NFT holders. To qualify for $BERA tokens through NFTs, you would need to hold specific NFTs associated with the Berachain ecosystem. This includes collections nobody has ever heard of, such as, Bong Bears (these include various collections like Bond Bears, Boo Bears, Baby Bears, Band Bears, Bit Bears, and an unreleased seventh rebase.)

There were also 80 different NFT collections within the Berachain ecosystem that were eligible, with the snapshot taken on January 14, 2025. These NFTs were associated with projects that have helped grow the Berachain community and were likely migrated from platforms like Ethereum or Arbitrum, to Berachain.

As well as some minor issues, for example: reports of testnet issues, leading to:

  • concerns about the stability of the mainnet

  • skepticism about the necessity of another Layer 1 blockchain in an already crowded market

  • post TGE price action of $BERA, following the the trend of other projects by fading into obscurity with minimal returns for participants.

The recent events in the web3 space might lead us to a simple yet horrifying question.

When is it enough? Is there a predictable threshold we can reach, and when will there be one layer 2 chain too many?

All content from Neo Tokyo News is for entertainment purposes only, is not financial advice, and does not reflect the opinions of Neo Tokyo.

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