Can Pixelmon Shed Its Image as the ‘Least Successful NFT Project’?
After being dubbed the “worst NFT project ever,” Pixelmon is now staging a comeback by introducing fractionalized non-fungible tokens (NFTs).
Launching on the 25th of February, a young developer rolled out Pixelmon, a game inspired by Pokemon, featuring collectible monsters.
Despite raising $70 million in Ethereum (ETH), Pixelmon received criticism for offering only 68 NFT characters, with “Kevin” serving as a symbol of its shortcomings.
On a similar note, a user on X (formerly Twitter), @zachxbt, highlighted,
“With Pixelmon raising over $70 million at 3 ETH per mint, the disappointing revelation left many feeling scammed. It’s time to move away from supporting NFT projects simply after quick gains.”
The Embedded Risks
When Giulio Xiloyannis took the helm of Pixelmon in May 2022, he recognized the necessity for a comprehensive art makeover.
Notwithstanding, Kevin, as an emblem of crypto’s resilience, remained unchanged, serving as a tribute to its persistence in the face of adversity.
Expressing thoughts on X, @notthreadguy, remarked,
“With an art reveal as disastrous as Pixelmon’s, ‘Kevin’ is now etched into NFT history.”
Reasons for Optimism
Furthermore, Xiloyannis underlined the potential pitfalls of fractionalized IP ownership, stressing the importance of addressing issues with distribution and community governance.
Despite these concerns, the demand for Pixelmon’s infamous “Kevin” NFTs has been substantial, showcasing positivity in the project’s outlook.
Nonetheless, there’s a word of caution regarding the unpredictability of selecting the right character. Additionally, decentralized governance brings complexity but encourages community participation for sustained growth.
Hence, with backing from entities like Immutable and Animoca Brands, Pixelmon is poised for expansion in the realm of blockchain gaming.