Can PIXEL become AXS 2.0?
Pixel, the 44th Binanc Launchpool project, is set to launch on February 19, 2024, at 10:00 (UTC). This blockchain farm simulation game on the Ronin network follows the Metaverse trend with a focus on land ownership and NFTs. The project, emerging about a decade ago, positions itself in the virtual world's game finance, social finance, and land division trends.
With over 140,000 active wallets and a substantial transaction volume, Pixel is gaining attention as a potential successor to Axies 2.0. Its simplicity, mobile accessibility, and support from Ronin, YGG, Binance, and Animoca make it stand out.
Pixel's model as a metaverse game holds promise for collaboration with other Web3 projects, potentially leading to tasks in different games and airdrop opportunities. While it surpasses Bigtime in user-friendliness, its market value compared to Axie's awaits market competition.
Supported by renowned funds like FrameWork, Animoca, and Febushi, Pixel has undergone private placements with varying prices, leading to a total supply of 5 billion tokens, with the initial supply at approximately 15%.
In comparison to other GameFi projects on
Binance Launchpool, Pixel's pricing, ranging between $0.45-$0.5, seems relatively high, with a market cap estimated at $350-400M. Given the close relationship with Binance, the possibility of listing at a similar price to the OTC is considered.
While the potential for significant returns exists, caution is advised due to potential selling pressure, especially if priced at $0.5. The Launchpool distribution of a substantial token supply to the community adds complexity to the market dynamics, making a cautious approach advisable.
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