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Pixelmon first launched in 2022 with an NFT creature sale that generated $70 million, but quickly became the target of ridicule when the clunky monster artwork was revealed. The project’s original founder called the artwork a “horrible mistake,” and NFT prices plunged.
But LiquidX bought the project later in 2022 and set about overhauling its plans with polished new artwork and plans to release multiple games, large and small. Earlier this month, Pixelmon announced that it had raised an $8 million seed funding round ahead of the debut of a MON token that will power a decentralized IP model.
By building on Immutable zkEVM, powered by Polygon’s zkEVM technology, Pixelmon aims to leverage "custom smart contract support, advanced gameplay mechanics and tokenomics, and an efficient trading experience," according to a press release.
“Pixelmon is an incredible turn-around story, and is focusing on delivering their flagship title with a seamless user experience,” Immutable co-founder and President Robbie Ferguson said, in a release. “They are one of the main games I would be looking at to help drive mainstream activity in 2024.”
Pixelmon has been sharing more and more details about its impending MON token, including tokenomics and a community pre-sale. MON will be minted as an ERC-20 token, but it’s not yet clear whether the token itself will be minted on Immutable zkEVM or perhaps the Ethereum mainnet.
MON TOKENOMICS OVERVIEW
MON will be issued as an ERC-20 token. At the token genesis event (TGE), 1 billion MON tokens will be created as the total token supply, which will never increase. MON will be distributed and unlocked as follows:
Total Supply: 1B
Community Claim: 30%… pic.twitter.com/GxoO4xpIKo— MON Protocol 🐉 $MON (@monprotocol) February 12, 2024
Decrypt’s GG asked an Immutable representative for clarification, but did not immediately receive a response.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.