In this post:
- The PIXEL token, the Pixel web3 game utility token, will have the next token unlock on February 19, releasing 1.79% of the coin’s total token supply.
- The PIXEL token enables users to buy skins, upgrades, NFT mints, and upgraded memberships in-game, as well as perform other in-game purchases.
- The token was listed on Binance in February last year after raising over 7 million in the PIXEL private sale rounds, releasing nearly 16% of its total supply.
Data analytics platform CryptoRank’s data revealed that the Web3 social game Pixels will have the next token unlock event for its premium in-game token, $PIXEL. The token unlock will increase the circulating supply by 89.37 million PIXEL tokens, equivalent to 1.79% of the project’s maximum token supply.
CryptoRank further confirmed that the token unlock would be divided between ecosystem rewards, treasury, the Pixels team, private sales, and advisors. The upcoming token unlock will bring the total unlocked tokens to 29% of the maximum supply of 5 billion coins. The locked coins will stand at 3.55 billion PIXEL, while the total unlocked coins will be 1.45 billion PIXEL.
PIXEL token unlocks began after the token’s listing on Binance, which released 15.42% of the project’s maximum token supply. The unlocks have not increased the circulating supply, but still have a major contribution to ecosystem rewards. The social Web3 game will proceed with the unlocks until February 2029.
The project introduced the token to facilitate in-game purchases and other premium benefits to players. The premium in-game currency is also the native utility and governance token of the Pixels game ecosystem. The project confirmed that the token is not yet initiating any governance rights on Pixels but will offer holders voting rights to how the project handles the treasury.
The token currently allows players to make in-game purchases of skins, XP, skill enhancers, player pets, IRL merchandise, new structures to place on land, and more. Players can also mint new land and NFTs using PIXEL. Pixels has also been using the token to offer active players ecosystem rewards through a daily distribution system.
The Web3 game grows after its Ronin blockchain integration
The Web3 game announced its migration from Polygon to the Ronin blockchain in October 2023 to leverage the scalability while fueling the game’s future expansions. The project explained that Ronin was a favorable option due to its past experience in onboarding Web3 users, games, and developers. Pixels further revealed that the migration would fuel the growth of the game’s community by introducing more players and opportunities.
“Ronin Network’s dedication to gaming aligns perfectly with our vision: creating an immersive on-chain gaming experience…with the perfect platform to evolve, innovate, and deliver.”
–Luke Barwikowski, Pixels founder
The game also described the necessity of micro-communities within the Pixels ecosystem, saying that the Ronin integration increased the creation of micro-communities within the game. Pixels pointed out the in-game events that attracted hundreds of attendees, including Halloween events, Summer Solstice, guild wars, and more.
Ronin further powers the PIXEL token, providing it with the proper infrastructure to maintain value. The current price of the token is a little over $0.07482, over 92% lower than the coin’s all-time high in March 2024. PIXEL is still over 20% higher than its all-time low of $0.06163 earlier today.
Pixels holds weekly AMAs to create more transparency around the game
✨🍿 PIXELS AMA SUMMARY 🍿✨ @pixels_online
— Zombina.ron (@zombinaaaaa) January 23, 2025
💚 Pixels continues to grow, with strong revenue and numbers!
⛏️ Pixel Dungeons are a massive hit: many new users have registered, and more games are being played
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⚖️ GAME BALANCE
Game balance is the Number 1 priority, with the… pic.twitter.com/kZ7n5ZdDUr
Pixels has been holding weekly ask-me-anything (AMA) sessions to inform gamers about important updates and events on the project’s roadmap. The AMAs also aimed to increase community engagement and the team’s understanding of its audience. Mixpanel data revealed that the project has attracted over 7.8 million unique users since 2022. Pixels also has over 5 million total user profiles and over 160,000 daily unique user wallets.
The latest AMA session was held on January 29, revealing updates to Pixels Chapter 2, including a full rewrite. The Pixels developers explained the need to improve the game’s economics before expanding the ecosystem while driving long-term sustainability and growth. The team also announced that the game would receive a new whitepaper with new updates, including staking plans, reward distribution, and more.