Deep Dive
1. Tokenomics & Game Updates (Mixed Impact)
Overview: The project is phasing out its inflationary soft currency, $BERRY, and consolidating into the single utility token $PIXEL. This includes a conversion rate of 7.6175 PIXEL per 1000 BERRY. The roadmap points to Chapter 2, introducing guilds, a new task board, and an off-chain "Coins" currency, all designed to create a more balanced and sustainable in-game economy where $PIXEL is used for NFT minting, VIP passes, and governance.
What this means: This is a bullish long-term restructuring that could reduce sell-pressure from a dual-currency system and increase $PIXEL's fundamental utility, supporting price. However, the transition requires careful execution to avoid disrupting the existing player base and economy in the short term.
2. Supply Unlocks & Sentiment (Bearish/Near-Term)
Overview: Significant token unlocks are a recurring event, such as the 91M PIXEL unlock noted in August 2025, representing over 15% of the circulating supply at the time. Despite this, social sentiment has remained strong, with active discussions on Discord and X around VIP tiers, quests, and creator programs.
What this means: These scheduled unlocks introduce predictable selling pressure that can suppress price rallies in the weeks following each event. The key metric is whether organic demand from player engagement and staking (like the Binance BNSOL program) can outpace this new supply.
3. Web3 Gaming Competition (Mixed Impact)
Overview: Pixels is a leading game on the Ronin blockchain, but the broader Web3 gaming sector is under pressure. An Axie Infinity founder warned many studios could "die" by 2026 due to funding shortages. Success depends on attracting players who spend for fun, not just to earn.
What this means: PIXEL's status as a sector leader is a bullish differentiator, but its price is tied to the risky and unproven narrative of sustainable Play-to-Earn. A sector-wide downturn or loss of player interest would negatively impact all gaming tokens, including PIXEL.
Conclusion
PIXEL's path hinges on the successful rollout of Chapter 2 driving real utility against the headwind of token unlocks. For holders, this means watching for sustained growth in active users and in-game $PIXEL spending versus inflation.
Will player demand for new features outpace the scheduled supply increases from unlocks?