Pixels

Ronin

Polygon

Pixel, one of the largest Web3 games by daily active user count, has approached a valuation of $3 billion shortly after its token listing on cryptocurrency exchange Binance.
At the time of publication, the PIXEL token is currently <a href="https://www.binance.com/en/trade/PIXEL_USDT?type=spot" target="_blank" rel="noopener nofollow">trading</a> at $0.5385, representing a gain of 1,246% from its listing price of $0.04 on Binance on Feb. 19. The project currently has a diluted market cap of $2.65 billion. Last September, Pixel announced its migration from Polygon to Sky Mavis’ Ronin Web3 gaming blockchain, citing the latter’s dedicated gaming user base.&nbsp;
As per data from DappRadar, there are currently 531,850 wallets <a href="https://dappradar.com/dapp/pixels?range-ds=30d" target="_blank" rel="noopener nofollow">interacting</a> with the social community game, representing an increase of 47.9% over the past 30 days. Pixels is a laid-back adventure game where one can farm, explore, own land, and flex nonfungible tokens (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 <a href="https://dappradar.com/dapp/pixels/" target="_blank" rel="noopener nofollow">value</a> in terms of gaming transactions.&nbsp;
<blockquote class="twitter-tweet">
 Big day. Our first live stream AMA post-TGE Today we'll discuss: ➡️ What's coming next ➡️ Guilds ➡️ Pets mint ➡️ <a href="https://twitter.com/CyberKongz?ref_src=twsrc%5Etfw">@CyberKongz</a> partnership ➡️ TGE &amp; the past few days &amp; as always, we'll answer alllll your burning questions <a href="https://t.co/LadEirAb51">pic.twitter.com/LadEirAb51</a>— Pixels (@pixels_online) <a href="https://twitter.com/pixels_online/status/1760362079402565918?ref_src=twsrc%5Etfw">February 21, 2024</a>
</blockquote> 
After a devastating hack in 2022, the Ronin blockchain has <a href="https://cointelegraph.com/news/ronin-ecosystem-recovers-after-strained-binance-token-listing">made a comeback</a> this year with its token value reclaiming pre-hack highs. Meanwhile, the blockchain’s total value locked has also <a href="https://defillama.com/chain/Ronin" target="_blank" rel="noopener nofollow">recovered</a> to $214 million, with 99% of its volume contributed by the native decentralized exchange Katana.&nbsp;
On Feb. 5, the Ronin (RON) token was also listed on Binance but <a href="https://cointelegraph.com/news/ronin-ecosystem-recovers-after-strained-binance-token-listing">quickly declined</a>&nbsp;after an accumulation of RON by insiders, who then swiftly sold after the actual token was listed, driving down its price. Yi He, co-founder of&nbsp;Binance and spouse of former CEO Changpeng Zhao, explained after the fiasco that the exchange would impose more stringent internal controls to separate the listing team from project research teams to prevent information leaks.&nbsp;
In an interview with Cointelegraph, Aleksander Larsen, co-founder of Sky Mavis, 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.
Related: <a href="https://cointelegraph.com/news/web3-gaming-metaverse-aims-to-revolutionize-gamefi">Web3 gaming metaverse aims to revolutionize GameFi</a>

Web3 game Pixels now valued at $2.7B after migration to Ronin

Cointelegraph

Other articles published on Feb 22, 2024

Analyst Predicts Bitcoin Price Surge to $57,000

New ATH Forecast for Ethereum (ETH) from Kraken Analysts!

DEMYSTIFYING WEB3 RECRUITMENT: INSIGHTS FROM IGNACIO PALOMERA, CEO OF BONDEX

Efforts continue in Japan to bring about optimized regulation

SPELL Token Prediction: SPELL pumps 78% in just 1day!

Binance Completes Delisting of Monero Amid Unexpected Market Reaction

Join our free newsletter for daily crypto updates!