In Brief:
- Mythical Games transitions all NFTs to the new Pulse marketplace, retiring Mythical Market.
- MYTH tokens will be converted at a rate of 500 MYTH to $1 for users.
- Pulse marketplace will use USDC for transactions, addressing volatility issues faced by MYTH.
Mythical Games migrates to Pulse marketplace
All NFTs from Mythical Games’ titles have transitioned to the new Pulse marketplace, marking the end of Mythical Market. This change follows the April 22 migration of assets for FIFA Rivals, now simply called Rivals.
Users holding MYTH tokens will see their balances converted to USDC at a rate of 500 MYTH for every dollar. The shift aims to stabilize trading conditions, as Pulse utilizes the USDC stablecoin, contrasting with the previous system that relied on the increasingly volatile MYTH token. Over the past year, the value of MYTH has dropped by 98%, limiting its utility.
The new marketplace offers a more reliable environment for trading, as participating in Pulse allows for clear pricing. However, success hinges on the engagement of players, who give value to the assets based on demand. Mythical Games will emphasize FIFA Rivals as the World Cup approaches on June 11, hoping to leverage the tournament to boost its player base.
“Putting something on the marketplace for $5 and knowing that if it sells, you’ll receive $5 is a pretty good starting point for such an economy to develop,” a Mythical representative said.
Mythical Market’s retirement indicates a significant shift in strategy for the company, prioritizing stability and engagement in the NFT gaming ecosystem.
