Pixelmon Raises $8 Million in Seed Funding
Pixelmon, a crypto project that started off as a controversial NFT venture, has secured $8 million in seed funding. The investment round includes prominent backers such as Animoca Brands and Delphi Digital, as well as angel investors from the crypto world. Pixelmon was acquired by LiquidX in 2022 after facing criticism for its initial artwork. The company has since revamped its designs and developed new games around its crypto IP. The team aims to release quarterly hypercasual games, with plans for larger-scale games and an open-world adventure in the future. Pixelmon is also preparing for the launch of its MON token, which will fuel its IP protocol and allow NFT holders to participate in governance decisions.
Rebuilding Pixelmon’s Reputation
Pixelmon faced backlash for its original artwork, but it has undergone significant changes to improve its image. The team has replaced the clunky Minecraft-like designs with more premium-looking cartoonish creatures. They have also launched games like Kevin the Adventurer and PixelPals to engage different audiences. By experimenting with different game genres and platforms, Pixelmon aims to attract a diverse player base. The company plans to continue releasing mini-games every three months to test new ideas and learn from Web3-native interactions between players. Additionally, Pixelmon is exploring the potential of blockchain-based anti-cheat mechanisms.
The Mon Protocol and MON Token
Pixelmon is set to launch the MON token, an Ethereum-based ERC-20 token that will serve as the ecosystem token for Pixelmon games. The Mon Protocol will enable decentralized governance of the Pixelmon IP, allowing NFT holders to actively participate in decisions related to the species they own. This approach aligns with Pixelmon’s vision of creating a decentralized entertainment franchise similar to Pokémon. NFT holders can sign up for the MON token presale, which is scheduled for launch in 2024.
Hot Take: Pixelmon’s Redemption Story
Pixelmon’s journey from a controversial NFT project to a well-funded crypto venture demonstrates the potential for redemption and reinvention in the digital asset space. By addressing the initial criticisms, improving its artwork, and expanding its game offerings, Pixelmon has attracted significant investment and support from industry players. The upcoming launch of the MON token and the Mon Protocol further solidify Pixelmon’s commitment to decentralization and community involvement. As the project continues to evolve and release new games, it aims to create a vibrant ecosystem where NFT holders can actively shape the future of the Pixelmon brand.
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