Pixelverse announced a partnership with TON to introduce billions of PIXFI tokens to its over 10M social media fans and over 35M PixelTap players on Telegram. Pixelverse said their decision to team up with TON aimed to increase the mass adoption of crypto users.

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According to Pixelverse, PIXFI will have multiple uses for players and developers within Pixelverse, including battling, crafting, trading, and developing game expansions.

Pixelverse to invest $5.5 million for PIXFI distribution

Pixelverse announced it had raised $5.5 million in seed capital from different investors to launch 5 billion PIXFI tokens on TON. The company’s COO said this crucial step was a game changer for the wide adoption of Web3 applications. Pixelverse hopes to transition over 100 million Web2 gamers to Web3.

"Pixelverse is a game changer for Web3 adoption," says @koritual, COO of Pixelverse. This funding will help us expand globally.

— Pixelverse (@pixelverse_xyz) June 12, 2024

Pixelverse said players will contribute to a thriving in-game economy by buying and selling stylish accessories or breeding robots through the Pixelverse marketplace. Developers will need PIXFI to create powerful combat robots.   

According to official documents, Pixelverse offered to provide a dynamic marketplace where demand would determine value. Players would be in control, setting the terms for swapping, buying, or selling tradable assets with Pixelverse. 

“Every win, crafted bot, and rare quest find is tradable, giving your virtual victories real value. Each adventure and achievement contributes to economic growth, with rarity, usefulness, and community demand determining item value.”

–Pixelverse 

Pixelverse promised that their cyberpunk-themed game would not only make Web3 accessible and fun but also offer users the chance to own in-game assets acquired using PIXFI tokens truly. Pixelverse claimed PixelTap had already gone viral, with millions of daily users engaging with the game differently.

Burning PIXFIs will raise the token’s future value   

According to Pixelverse, the PIXFI token will be used on PixelTap to support a ‘deflationary economy.’ Official Pixelverse documents revealed that mechanisms like burning will reduce PIXFI’s supply over time to maintain or increase its market value. 

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Pixelverse confirmed a plan to permanently remove some of the PIXFI tokens spent in the marketplace from circulation. 

“Similar to marketplace transactions, tokens used in bot creation and breeding are burnt, contributing to the deflationary economy…These processes ensure that crafting and breeding not only enhance your bots but also support the overall health and balance of Pixelverse’s economy.”

-Pixelverse

Pixelverse explained that its ‘risk to earn’ model was expected to attract more PixelTap players to engage in prized robot battles. Pooled tokens staked by players will be up for grabs by winners, declared Pixelverse. The resulting competitive aspect of the game (PixelTap) will provide entertainment and a ‘direct avenue for players to augment their in-game assets’, guaranteed Pixelverse.    

Cryptopolitan reporting by Collins J. Okoth