ApeCoin, Pixel and other crypto gaming projects will unlock up to 250 million dollars worth of tokens by the end of March. These additional token unlocks could lead to price fluctuations.
ApeCoin, Pixel and crypto gaming projects unlock $250 million in tokens by the end of March
According to what reported, it seems that ApeCoin, Pixel, and other crypto gaming projects are about to unlock nearly 250 million dollars in gaming tokens by the end of March 2024.
So in the coming weeks, significant quantities of tokens linked to crypto gaming projects could enter the market, and this could also affect their price.
Specifically, ApeCoin (APE) developed on Ethereum and linked to the Bored Ape Yacht Club ecosystem which includes the Otherside metaverse, will unlock 15.6 million APE on March 16. This is worth approximately $38.2 million at the current price and represents 2.55% of the current circulating supply.
Regarding the agricultural game Roning Pixels, the first unlock will be on March 19 and 54.38 million PIXEL will be unlocked, representing just over 7% of the circulating supply. This is equivalent to $42.5 million worth of token at current prices.
Among the other crypto games there is also the game token based on Ethereum Immutable, IMX, which will see on March 21, the largest unlock with 34.19 million IMX. This is a value of about $117.3 million at the current price, equal to just under 2.5% of the current circulating supply.
Next up is also Yield Guild Games which will unlock 16.69 million YGG on March 27th, and Parallel, the NFT card game that will unlock 1.66 million PRIME tokens on March 30th. The GMT token also joins the club by unlocking its 3.32 million GMT on March 31st.
ApeCoin, Pixel: how are the prices of crypto gaming tokens proceeding
ApeCoin (APE) is experiencing a slight price drop in the last 24 hours, with APE dropping from $2.64 to the current $2.35.
Causing a stir in this sector is Ronin’s crypto gaming project, whose token RON has reached its all-time high price, following the hype for Pixels. In fact, RON has surged +45% in the last seven days, reaching the All-Time High (or ATH) price of $4.45 on Monday.
The price of Ronin has more than doubled in the last three months, partly thanks to the rise of Pixels, a social farming game built around NFTs and the PIXEL token.
Pixels launched the token in February following multiple play-to-airdrop campaigns that fueled excitement around the game, and since then the number of daily active users has continued to grow.
Even the price of the PIXEL token has risen in the last seven days, reaching $1, but returning at the time of writing to 0.76$.
The $5 million funding for the new blockchain game MetalCore
Recently, there has been talk of a new blockchain-based game, MetalCore, especially for the $5 million VC funding it managed to obtain.
This is an innovative MMO combat game (Massive Multiplayer Online), developed on blockchain and led by the team of experts from Unreal Engine Studio 369, Disney, and Lucasfilm.
At the moment, MetalCore is not live yet, but it will be launched by the end of 2024. Moreover, at the moment it is not even known on which blockchain the game is developed.
What is known is that the blockchain component will be used as a gaming resource, through weapons and vehicles in the NFT version that can then be traded on the secondary market.
