PANews reported on August 26th that the HY Foundation, a subsidiary of the metaverse platform HYTOPIA, announced a major update to its token economics model, launching a new token, HYBUX, to replace TOPIA. The token will have an initial supply of 10 billion and will be listed on the Base Chain to improve liquidity and exchange access. The airdrop ratio will be 2:1, meaning that every TOPIA held will receive two HYBUX tokens. The airdrop eligibility period has been extended to September 1st, Beijing time. The project will also comprehensively restructure the utility of NFTs, introducing inflation hedging mechanisms and a creator support system to further optimize the distribution of value within the ecosystem.

Earlier in 2023, it was reported that the metaverse platform HYTOPIA completed US$3 million in financing, led by Delphi Ventures .