Metaverse Does not Exist but Packing 70 Million Into Ethereum

The metaverse doesn't exist, but is packing $ 70 million into Ethereum Details on the Pixelmon game are sparse, but that hasn't stopped speculators from throwing thousands of dollars on its NFT.

Mania returns to the NFT market.

• A new game project called Pixelmon has recovered $ 71.4 million from NFT sales.

• Following the coin, the Pixelmon NFT price dropped sharply, giving novice publishers a paper loss of over 60%.

• Pixelmon revealed some details about the game in progress, prompting many first-time buyers to sell at a loss.

Pixelmon, the NFT's two-month gaming project, has raised $ 70 million in Ethereum since the mint's inception. While most of the Pixelmon NFT have been sold at close to 3 ETH, the collection's floor price has dropped by more than 60% since then.

Pixelmon Speculators were hit hard

Pixelmon, the Metaverse project that promises to be the AAA mobile game for the world, announced its NFT collection on Monday after two months of operation. A total of 8,079 NFTs were sold to the Dutch auction house with the opening of tenders for 3 ETH, approximately $ 9,489 at the time. All NFTs traded within the hour, with the majority selling at the asking price. The project raised 23,055 ETH through the sale of the NFT, approximately $ 71.4 million at running costs.

All in all, Pixelmon NFT's price is second to none according to licensing standards. The standard price of Pixelmon NFT is now over 60% of the price of the 3 ETH menu (the current minimum price of Pixelmon NFT on OpenSea is around 1.12 ETH).

Pixelmon's Twitter account was launched just two months ago and now has nearly 200,000 subscribers. Because Pixelmon has always been on the NFT scene and the entry price has become more or less the same old NFT to be launched and not downloadable by competitors to launch. In the event that there were other kings of seminars in the jurisprudence of the project: the details of the board members were not known, the project may have been in close contact with players at the NFT market.

As part of its marketing strategy, Pixelmon has promised to create "the first AAA game in the NFT space" with full Metaverse experience. In addition to this confusing mantra, the project's website reveals some details about the game's development, rather than highlighting the NFT approach. After the owners spent a significant amount on Genesis, Pixelmon also promised them the opportunity to spend more on future purchases of special plots such as those available from Metaverses such as Decentraland and Sandbox. PIXEL certificate holders will receive them in the coming weeks, but the validity of the certificates remains a secret.

Now, the most important thing the NFT should get rid of is that Pixelmon's in-game windows have been posted to the project's Twitter account. The game itself has not received an alpha rating and there is no confirmation of speculation. However, users can download the Pixelmon 675-megabit demo in order to play.

Crypto Briefing tested the Pixelmon demo to conclude that it was more of an interactive demo than any actual game. While the graphics and lighting are of high quality, the player cannot interact with anything other than the riding horse. After about two minutes of walking, the demo stops and goes black and the screen shows "continue". The overall experience raises more questions about the game than it answers.

Since the beginning of the year, NFT's popularity has declined again, with avatar designs such as the Bored Ape Yacht Club and future designs such as Crypto Unicorns rising in value. As a result, there is a lot of information about new projects as NFT pinchers are looking for another very successful project. However, while good work seems to increase costs, many projects are also trying to enter the current market.

Only time will tell if Pixelmon will do the right thing through its NFT members. The project has a hefty budget compared to the budgets of many AAA games developed in recent years. With a cash injection from mint NFT, the Pixelmon team is planning an alpha release date in the next four to five months. Pixelmon developers need to act fast to deliver a product in no time, especially for the thousands of NFT users who are heavily funded.