- Pixels, a popular Web3 game, has reached a $2.7 billion valuation after listing its token on Binance and migrating to the Ronin blockchain from Polygon. The game now has over 500,000 daily active wallets.
- Pixels is a social, community-focused adventure game where users can farm, explore, and show off NFTs. However, its in-game token has not kept pace with the broader token’s growth.
- The Ronin blockchain and its token have recovered after a major hack in 2022. Sky Mavis, which operates Ronin, plans to integrate 16 blockchain games this year as part of its Steam-like Web3 gaming platform.
Pixels, one of the largest Web3 games by daily active users, has reached a valuation of $2.7 billion shortly after listing its token on the cryptocurrency exchange Binance.
The Massive Growth of Pixels
At the time of writing, the PIXEL token is trading at $0.05385, representing a gain of 1,246% from its listing price of $0.004 on Binance on Feb 19. The project currently has a diluted market cap of $2.65 billion.
Last September, Pixels announced its migration from Polygon to Sky Mavis’ Ronin, a Web3 gaming blockchain, citing the latter’s dedicated gaming user base. Per data from DappRadar, there are currently 531,850 wallets interacting with the social community game, up 479% over the past 30 days.
Pixels: A Social, Community-Focused Game
Pixels is a laid-back adventure game where one can farm, explore, own land, and show off NFTs within the community. However, Berry, the protocol’s in-game token, has not kept up with the Pixel token’s surge, resulting in a much lower value for gaming transactions.
The Revival of Ronin
After a devastating hack in 2022, the Ronin blockchain has made a comeback this year, with its token value reclaiming pre-hack highs. Meanwhile, the blockchain’s total value locked has also recovered to $214 million, with 99% of its volume contributed by the native decentralized exchange Katana.
On Feb 5, the Ronin (RON) token was also listed on Binance but quickly declined after RON accumulation by insiders who then swiftly sold after the actual listing, driving down its price. Binance has since imposed more controls to prevent leaks.
Sky Mavis co-founder Aleksander Larsen explained that Ronin will allow Web3 games that gain traction to be integrated into the Mavis Hub, the protocol’s Steam-like platform for game curation. Larsen expects to onboard 16 blockchain games onto Ronin this year.
