Pixelmon’s Art Turnaround and Recent Success
After receiving criticism for its art reveal in February 2022, Pixelmon has made significant efforts to improve its fortunes. The project replaced the artwork, brought in a new leadership team, and outlined a new roadmap by September 2022. In October 2023, it launched a casual side-scroller game called Kevin the Adventurer, which led to a boost in the NFT project’s floor price from 0.35 ETH ($800) to a peak of 1.85 ETH ($4,200).
$8 Million Seed Investment from Prominent Investors
Prominent investors including Animoca Brands, Delphi Ventures, and Foresight Ventures have made an $8 million seed investment in Pixelmon. Other participants in the funding round include Amber Group, 9GAG Founder Ray Chan, and Immutable Co-Founder Robbie Ferguson.
What is Pixelmon?
Pixelmon is a decentralized gaming brand owned by Pixelation Labs, a subsidiary of Singapore-based Web3 venture capital LiquidX Studios. The brand consists of mythical creatures of the same name. Pixelmon is currently developing four games, including PixelPals set for release this month. The company’s Mon Protocol distributes ownership of trademarkable game characters across NFT holders, giving them rights to the IP that grows with the community and game ecosystem.
Future Development Plans
With its newly raised capital, Pixelmon plans to accelerate development across its portfolio of casual and mid-core games. The team aims to leverage the decentralized IP system established by Mon Protocol to empower creative communities and fan bases to actively participate in the long-term success of consumer franchises through true digital ownership and network effects.
Hot Take: Pixelmon’s Journey from Criticism to Success
Pixelmon’s art reveal for its $70 million NFT sale in February 2022 received harsh criticism, but the project has since turned its fortunes around. By replacing the artwork, bringing in new leadership, and launching a successful game, Pixelmon has seen a significant increase in its floor price. The recent $8 million seed investment from prominent investors further solidifies the project’s potential for success. With its decentralized IP system and plans for future game development, Pixelmon is positioning itself as an innovative player in the NFT gaming space.
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