pocalypse Creek is like any town in rural America. That is until a transport truck carrying nuclear waste spins off the road, spilling nuclear waste causing all residents to turn into Monsters. Join the community of FUD Monster owners and help lock up these monsters before they destroy any other neighboring communities.
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Fud monsters nft
It’s meant to be the Pokemon of NFT games. Set in the world of Eden, Pixelmon is to be an open-world RPG where Pixelmon creatures are caught, traded and sold as nonfungible tokens. Upon the game’s launch at the end of the year, Pixelmon NFT holders are to be given land that they can use to create living spaces or become in-game merchants by setting up a shop. To fund the project, Pixelmon developers released a collection of 10,000 Pixelmon NFTs in February.
They managed to raise $70 million, a level usually associated with blockbuster PlayStation or Xbox games.
But the project hit a roadblock.
After raising all that money, the team unveiled the Pixelmon that would inhabit the world. The project has been a laughingstock on social media ever since.
First, some context. NFT collections featuring 10,000 NFTs aren’t unusual.
Consequently, it caused the hash rate of the Bitcoin blockchain to plummet.
Shortly thereafter, major cryptocurrency exchange Huobi saw large outflows from its exchange. CryptoQuant, an on-chain market analysis firm, said:
“Looking at #Huobi netflow, $BTC outflow has soared in the last eight hours.”
As NewsBTC reported, the confluence of the uncertainty around Huobi and the U.S. election led the market sentiment to dwindle.
Huobi netflow. Source: CryptoQuant
But, traders say that based on historical cycles, this is an ideal time for Bitcoin to see a trend reversal.
Throughout the last five days, a significant level of uncertainty has emerged in the cryptocurrency market.
The Pixelmon team — which is fully pseudonymous — has also partnered with Magic Media, a video game development studio.
“No matter how long it takes, or how much FUD [fear, uncertainty and doubt] occurs, we are committed to delivering on our long-term vision and everything which was set out in our litepaper,” he tweeted.
The story doesn’t quite end there, though. The Pixelmon art reveal was such a public failure that it spawned an icon — or, at least, a meme — in “Kevin,” the turtle creature that became the face of the reveal. (“Kevin” is the actual name given to him by Pixelmon developers.)
It’s not merely that Kevin has become a social media meme. Kevin has become an asset unto himself. The floor price of Pixelmon’s NFT collection — that is, the cheapest ones you can buy — is 0.39 ether ($1,140).
The floor price of Kevin Pixelmon is 4.75 ether ($13,900).
By burning PMON with each swap & reverse swap, each further trade & reverse swap will cause a rise in the scarcity of your NFTs. Be one of the first to get your hands on PMON, and uncover a treasure only you can own.
How To Earn Free PMON Tokens
Use PMON tokens to stake on Polychain Monsters and get extra PMON prizes with every swap.
What Blockchains Is Polkamon Available On?
Find ultra-rare monsters (polychain monsters) with $PMON on the Polkadot, Ethereum, and many other blockchains due to its cross-chain solutions.
What Are Polychain Monsters?
Polychain Monsters vary greatly in appearance and rarity. You will get ultra-rare variations as well.
Stylish, voxelated Pixelmon monsters had been advertised on Twitter, and a demo video claiming to show real gameplay footage had convinced investors and speculators to bet big.
Then, on Feb. 26 came the “reveal.” NFT art collections often have a scheduled mint date — that is, the primary sale — and then a reveal date a few days later. After minting an NFT, placeholder art shows up in the owner’s wallet. Upon reveal, you see what NFT you got. It’s a bit like Pokemon cards: Different NFTs within the same collection are valued based on how scarce their traits are, just like how a holographic Pokemon card is more valuable than a standard one, so the reveal is essentially the equivalent of opening your booster pack to see what cards you get.
The art that holders got — which many had spent over $9,000 on — was bad enough to become an instant meme.
When you own PMON tokens, you can explore and display your collection, purchase more tokens, and receive up-to-date information about the world at all times. Your unique polychain Monster collection increases in value and diversity, and don’t let your favorites be separated from you.
How Proof Of Ownership Works
Non-fungible tokens back Polychain Monsters, which means that, as the only owner, you will be able to use the expanding library of polychain monsters in contemporary games and artwork.
Polkamon is a cross-chain NFT network that uses booster packs to help increase the number of participants in the crypto ecosystem. They will have to attract the crypto community into the Polkamon ecosystem first to make this goal a reality.
There are many tones of Polychain Monsters that mimic different shades of the rainbow.
Glitter Polychain Monsters
If you find a Polychain Monster with dazzling glitter, you have an exceptionally uncommon and unusual Polychain Monster.
Horn Polychain Monsters
However, all Polychain Monsters have horns, and they have different shapes and rarities. This mystery will eventually be solved.
Ultra Rare Polychain Monsters
One-of-a-kind Polychain Monsters are sometimes seen. These ultra-rare species mimic Crypto Universe initiatives.
The Bitcoin Dragon, a mythical Polychain Monster, was recently found.
How The Polkmon Ecosystem Works
In native mobile applications and widgets, Polychain Monsters will exist. Collectible items in digital form, like Polychain Monsters, are unrivaled in aesthetic appeal and inherent value.
Other collections also try to create value by creating a digital world, a “metaverse,” in which NFTs can be used to create one of one avatars or to allow for ownership of virtual real estate. As with cryptocurrency and standard NFT trading, though, prices are volatile.
Syber, the pseudonymous creator of Pixelmon, acknowledged that the reveal went poorly in the project’s Discord server. (Most NFT business takes place on Discord.)
“I’m not going to sugar coat it — we made a horrible mistake,” Syber wrote on Discord. “This is unacceptable. We felt pressured to push reveal, and the reality is we weren’t ready to push the art work.
This does not represent the brand, and we will fix this as we have let many people down with this reveal.”
He said $2 million will be spent to completely revamp the art.
Currently, as of November 3, it is hovering at -0.015%.
When the funding rate is below 0%, short holders need to pay long holders. As such, when sellers need to compensate buyers, this incentivizes traders to increasingly long or buy BTC.
In the short term, the major support level for Bitcoin remains at $13,200 and $12,900. Overnight, when BTC abruptly declined by 4%, the $13,200 support level held quite strongly.
Consequently, the price quickly recovered from $13,200 to as high as $13,700 on Binance.
For the near-term performance of Bitcoin, protecting the $13,200 support area remains the key.
As a result, BTC fell from $14,100 to $13,400, recording a 5% fall.
A pseudonymous trader known as “Byzantine General” wrote:
“Funny enough it’s mostly longs that have been getting chopped up in this range. By the way… Election FUD, Huobi FUD, Hashrate FUD, mostly longs shaken out. This sounds like the perfect recipe for another monster rally to be honest.”
However, as seen in the previous controversy around OKEx, when the exchange temporarily paused its withdrawals, FUD has historically been followed with a relief rally.
Funding is still negative and this is key
Since the price of Bitcoin declined in the last several days, longs were shaken out, not shorts.
Yet, the funding rate of Bitcoin on major exchanges, like Binance Futures, is heavily negative.
On average, the BTC perpetual swap futures funding rate is at 0.01%.
It also tanked the price of the collection. At the time of writing, the floor price (the cheapest an NFT in the set is listed on the OpenSea marketplace) was 0.39 ether ($1,500).
Pixelmon was one of the largest NFT drops EVER, raising $70m
THIS is what they look like after reveal today 💀😂😂 pic.twitter.com/70XoL46mwH
— Blockchain Boy (WILL NEVER DM YOU FIRST) (@BlockchainBoyy) February 26, 2022
Pixelmon is one of many NFT projects that aims to do more than just provide art. Many are leaning into play-to-earn gaming, with NFTs of characters or monsters required to play. Pokemon is a common inspiration for such games, including Axie Infinity, which is the most popular P2E game yet.