Web3 Game Pixels Valued at $2.7 bn After Migration To Ronin
Pixel, a popular Web3 game, has reached a valuation of $3 billion after its token was listed on Binance.
Pixel announced its migration from Polygon to Sky Mavis’ Ronin Web3 gaming blockchain in September. The game has a diluted market cap of $2.65 billion.
Over the past 30 days, there have been 531,850 wallets interacting with Pixels, a 47.9% increase. The game’s in-game token, Berry, has not kept up with the Pixel token’s surge, resulting in lower gaming transaction value.
The Ronin blockchain has made a comeback this year, reclaiming pre-hack highs and a total value locked of $214 million, with 99% of its volume contributed by native decentralized exchange Katana.
The Ronin (RON) token was also listed on Binance but declined due to insider accumulation and subsequent selling. Binance co-founder Yi He has announced stricter internal controls to prevent information leaks.
(With inputs from Shikha Singh)
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