In Brief:
- Pixelmon (official site) has halted all game development and terminated its game team after failing to secure a long-term deal following playtesting.
- The core team will shift its focus to unspecified “other verticals,” with a community town hall scheduled for September 18 to discuss the future of the IP.
- Pixelmon’s rise to prominence included a $70 million Genesis sale in February 2022, but it faced extensive controversy over its art reveal.
Pixelmon ends game development
Pixelmon has officially ceased all game development and cut ties with its game team, marking the end of a four-year journey to establish a gaming business based on its NFT collection. The announcement came via Discord after three weeks of playtesting with an external publisher failed to yield a long-term commercial agreement.
Retention rates during the testing phase were deemed insufficient to justify continued investment. The core team plans to pivot to “other verticals,” although specifics remain undisclosed. A community town hall is set for September 18 to engage with holders about the IP’s future.
Background on the project
Launched in 2021, Pixelmon aimed to create an open-world RPG incorporating NFTs, virtual land, and play-to-earn elements. Its Genesis sale in February 2022 featured a Dutch auction starting at 3 ETH (about $8,100) per NFT, netting $70 million. The project’s initial art reveal sparked significant backlash, which culminated in the creation of a green creature named Kevin, who became a meme within the crypto community.
In September 2022, LiquidX acquired a 60% stake in Pixelmon and appointed Giulio Xiloyannis as CEO. This new management inherited the brand and focused on rebuilding it. The reboot produced Kevin the Adventurer on Base in 2023, attracting 36,000 players at launch, followed by PixelPals and plans for Wardens Ascent.
A further $8 million was raised in February 2024, with a plan to transition to Avalanche by 2025. The team also introduced MON Protocol (official site), aimed at becoming a token-driven publishing network for its games. The community presale for MON reportedly raised $7 million in eight minutes, selling 62 million tokens at approximately $0.11 each; at present, buyers are down nearly 99%.
The total funding utilized by the team that has now shut down is close to $15 million, which includes the 2024 raise and presale, a stark contrast to the initial $70 million raised earlier. The closure of Pixelmon signifies a significant loss in the current web3 gaming sector, which has seen diminishing projects over time.
As the community prepares for Thursday’s town hall, discussions will likely center on the future management of the Pixelmon IP, including the possibility of a community takeover.
