Kaito token and NFT prices plunge as X blocks apps to fight spam

Kaito token and NFT prices plunge as X blocks apps to fight spam

Key Takeaways

  • KAITO token value dropped 20% following X’s policy update.
  • X announced it would block apps that reward users for posting, known as ‚InfoFi‘ apps.

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KAITO, the native token of the InfoFi protocol Kaito AI, fell 20% today after X announced it would block apps that reward users for posting on the platform. The token dropped from $0.7 to $0.56 following the policy change announcement, per CoinGecko.

Kaito token and NFT prices plunge as X blocks apps to fight spam

The sell-off extended to the Yapybaras – Kaito Genesis NFT collection, which saw its floor price collapse over 50% to 0.21 ETH, according to OpenSea.

The crackdown was revealed by X Head of Product Nikita Bier in a statement shared on the platform. He said the changes are meant to address growing automated spam and AI-generated content linked to InfoFi apps.

X has already cut off API access for the affected apps and will support developers seeking to migrate to other social networks.

This is a developing story.



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