The Elon Musk-themed Telegram game X Empire has launched its long-anticipated X token on The Open Network (TON), but the event has not gone as many players expected.
The Elon Musk-themed Telegram game X Empire has launched its long-anticipated X token on The Open Network (TON), but the event has not gone as many players expected.
The token debuted at approximately $0.000096, significantly lower than the pre-market trading price of around $0.0002 that had been anticipated by traders on platforms like Bitget and Kucoin.
As the day unfolded, X experienced notable volatility, dipping to a low of $0.00005 before briefly climbing to $0.00013. According to the latest reports, the token's price had settled at roughly $0.000087.
This sharp decline post-launch has raised concerns among the game's substantial player base, which reportedly includes about six million users eligible for an airdrop.
Frustration has mounted on social media, with many players expressing dissatisfaction over the size of their airdrops. Some users claimed to have received as little as $10 worth of tokens after months of gameplay, echoing sentiments felt during previous airdrop events for other Telegram games like Hamster Kombat and Catizen.
The launch of X Empire follows a trend set earlier this year by Notcoin, which achieved a market cap of nearly $3 billion, though successive game token launches have not been able to follow suit.
Currently, X Empire's market cap stands at just under $40 million, trailing behind Catizen's $106 million and Hamster Kombat's $217 million.
In response to the token's launch, the developers of X Empire have announced plans for additional Telegram applications aimed at enhancing user engagement, including a news feed and a language learning app.
They have hinted at a significant announcement in one month, creating curiosity among players about the game’s future direction.
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