The listing of $RONIN on Binance adds fuel to the #GameFi trend. New platform projects like $ACE and $XAI also need quality projects like #Pixels to compete with RONIN in this GameFi wave.
Now let's analyze the fundamentals of $PIXEL, a token in the Pixels ecosystem:
1. Nature of $PIXEL
- PIXEL is an NFT-based game with a user-friendly interface. It follows the Earn 2 Token model but with improvements in both the Play and Earn aspects.
- Players can earn money by investing or playing for free. The gameplay revolves around a simple and easy-to-play farming game.
- The project is developed as a Metaverse game, offering the ability to build houses and other things on NFT land. The Metaverse direction makes it appealing to players.
- With its standout features, PIXEL shows superiority over its competitors like @AxieInfinity ( $AXS ) in terms of gameplay, simplicity, earning potential, and the Metaverse social aspect.
- PIXEL currently has hundreds of thousands of daily active players, making it one of the largest games in terms of user base.
- Considering the scale and product of PIXEL, imagine the potential for $PIXEL to experience significant growth, potentially similar to the success of Axie Infinity that has seen exponential growth.
2. Tokenomics
- $PIXEL is the main token in the Pixel game ecosystem, used for minting NFTs, upgrading VIP status, joining guilds, upgrading the game, and serving as a governance token within the game.
- Total supply: 5 billion $PIXEL
- Initial supply: 771,041,667 (~15.42% of total supply)
- 7% allocated to Binance Launchpool (350,000,000) - users can stake $BNB or $FDUSD to participate. (Time frame: 14/2 - 18/2).
3. Valuation of the project
- The project receives significant support from Animoca Brands, along with backing from Axie Infinity and Ronin Network.
- The project will conduct 3 rounds of token sales in February 2024, selling a total of 14% of $PIXEL and raising approximately $4.8 million at prices of $0.005, $0.009, and $0.012 per token. This implies diluted valuations (FDV) of $25M, $45M, and $60M, respectively.
- These tokens will be unlocked and vested over 36 months starting from March 2025.
- The seed round, led by Animoca Brands, PKO, OpenSea, and others, raised $2.4 million and allocated 475 million $PIXEL tokens (9.5%). The seed price is approximately $0.005 (FDV = $25M).
- Tokens allocated to advisors will be unlocked upon listing.
4. Price projection and investment plans
- Pixel is the flagship project within the Ronin ecosystem. Considering the recent listing of $RON on Binance, it is likely part of the overall plan.
- Currently, the game uses the temporary $COIN token until the launch of $PIXEL. Once the token is integrated, if the game attracts a large user base through airdrops, and rewards, and generates FOMO similar to what AXS has done, the market is expected to be supportive.
- Looking at the FDV valuations, we can see similarities to XAI with valuations of $25M, $50M, and $80M.
- At the initial stage, XAI market cap of $150M - $300M, with prices ranging from $0.2 to $0.4. Therefore, a price range of $0.2 - $0.3 could be considered.
- The current OTC price projection is quite accurate, with the token trading at $0.45 - $0.5, resulting in a market cap of $350M and an FDV of $2.25B (a significant valuation, so caution should be exercised to avoid buying at the peak or consider dollar-cost averaging at different price levels).
- The most important factor is the signal from BTC as it influences market sentiment. Pay attention to BTC's movements. Then wait for the airdrop and Launchpool distribution before making further considerations.
If the initial price range is indeed between $0.2-$0.3, you can feel comfortable holding until around $0.4-$0.5 to take some profits and let the profits ride. Consider this as a medium to long-term investment because #PIXEL has significant potential, especially with the backing of Binance Trading.
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When choosing GameFi projects, consider the following criteria:
- Strong backers supporting the project.
- Games with innovative gameplay.
- Projects with a large user base.
To filter GameFi projects, focus on those that have developed a solid product, proven their potential, and attracted users before launching their tokens.
