Pixelmon, a Web3 gaming IP owned by LiquidX Studio, has successfully completed the pre-sale of its $MON IP and governance token.
The studio — which has backing from Animoca Ventures, Bitscale Capital, Delphi Ventures, 9GAG, Immutable and others — ended its pre-sale yesterday, March 4th, in only eight minutes. It consisted of 62,092,000 tokens, representing 6.2% of the total supply of 1 billion. The $MON tokens were valued at $7.1 million.
The tokens were sold in “lots,” consisting of 2,888 $MON per lot, with each lot priced at 0.096 ETH. Holders of Golden Trainer and Pixelmon NFTs were granted access to purchase lots based on the rarity of their NFTs, and ETH was valued at $3,414 per coin, as per the pre-sale contract.
There were a total of 21,500 lots available, of which 4,679 were raffled and the rest went to NFTs holders. According to a press release shared with Rarity Sniper, over 11,700 unique wallets participated.
The co-founder of LiquidX and CEO of Pixelmon Giulio Xiloyannis said the sale was designed to be “fair,” rewarding both the long-term community “without being disadvantageous to newcomers.”
The MON Protocol token will be used for the following:
- Currency for all Pixelmon games
- To reward players for in-game tournaments, missions, and participation
- Airdrop rewards
- As a governance token
- To launch creator grants and blockchain native IPs
Pixelmon launched as an NFT project in February 2022, and was much hyped for its promise of AAA quality games. It raised $70 million on its first drop, but the poor quality of the NFT art quickly became meme-worthy, and not in a positive way. In September 2022, the Singaporean company LiquidX acquired it and pivoted to focus on blockchain-based gaming.
Recently, the project has seen quite a comeback. Since December 2023, Pixelmon NFTs floor price has skyrocketed, surpassing all-time highs not seen since its early days. At the time of writing, its floor price was 1.45 ETH on OpenSea.
One incentive users receive with Pixelmon is fractional IP benefits, which grants holders a portion of in-game characters and items’ IPs. As its economy grows, the distribution of its IP and governance token to its community and newcomers should prove useful.
Token Sale & Airdrop Season?
The $MON token sale adds value and further decentralizes the Pixelmon community. It’s also a way of rewarding holders who invested early in the project and held on during the bear market. At Rarity Sniper, we’ve covered several articles recently about NFT projects rewarding early users through token sales and airdrops.
Here are some of the top related headlines:
- Optimism Launches Fourth Airdrop for NFT Creators
- Web3 Project from 9GAG Hits $12.5M in Token Presale
- HYTOPIA Launches Node Sale for 1.1 Million Players
- Magic Eden Traders to Be Rewarded with ‘NFT’ Crypto Tokens
- Solana Phone Loaded with $BONK Token Sells Out
In February of this year, Pixelmon raised $8 million in seed funding in a round that saw participation from Animoca Brands, Delphi Group, Amber Group and others. The funds were aimed at bringing it into “the next chapter” of its evolution.
The success of the pre-sale token offering and floor price of its genesis NFTs could be a part of Pixelmon’s comeback story. Regardless, it shows interest in the project is still strong.