Binance's latest Launchpool: A comprehensive analysis of the blockchain game Pixels and price prediction for its launch
What is the estimated return for participating in the new coin mining Pixels? After launch, what price can PIXEL reach, and what is the safest way to operate?Source: BITWU.ETH
Editor's Note: On February 8, Binance announced the launch of the 46th new coin mining project, Pixels. Users can invest BNB and FDUSD into the PIXEL mining pool on the Launchpad website after 8:00 AM (UTC+8) on February 9, 2024, to earn PIXEL rewards. The mining period for PIXEL will last a total of 10 days. Subsequently, Pixels announced a strategic financing round of $4.8 million, with several well-known capital firms participating. Crypto KOL BITWU provided a detailed introduction to this Launchpool project, Pixels, and made estimates regarding its launch price based on on-chain data monitored by the AI account. Rhythm BlockBeats summarizes as follows:
Pixels is a free Web3 farming game; Binance has launched a large number of Gamefi projects this year, indicating that the new bull market will certainly have a place for games; the Mavia Game, which I have been following for some time, has also received investment from Binance and is currently experiencing a surge similar to a bulldozer.
This mining event will last a total of 10 days, allowing users to earn the token Pixels (PIXEL) for free using BNB and FDUSD. I staked from the first day and have currently earned 2017 tokens;
This article analyzes the following through research on relevant tracks and projects:
1. What exactly is Pixels?
2. What is the token model of Pixels?
3. What are the estimated returns? Is it worth borrowing tokens to mine?
4. What is the estimated launch price and how to operate?
5. Binance related research reports
1. What is Pixels?
Pixels is a P2E-focused Web3 farming game.
First, the game is free. It allows players to engage in familiar agricultural activities such as resource planting, food preparation, and goods trading, and players have the unique opportunity to own and develop individual plots of farmland.
Second, the game recreates the atmosphere of classic 16-bit role-playing adventures, allowing players to navigate a pixel art world, interact with each other, cultivate land, play mini-games, and earn token rewards.
Additionally, it allows holders of selected NFT profile picture (PFP) collectibles to use their owned avatars in the game, adding to the fun.
The following content is from: @BlockBeatsAsia
Original article: "Pixels Two-Year Anniversary: Shouldering the Metaverse Pixel Farming Chain Game of the Ronin Ecosystem"
For a P2E game to operate robustly, the team needs mature thinking. The Pixels team's vision can be understood from three aspects: game fun, interoperability, and decentralization.
In terms of game fun, Pixels' design allows all types of users to experience the joy of gaming. Community KOL @0xPixelPenguin believes that Pixels' rich gameplay and ecosystem can meet the needs of different groups. Professional players can choose to spend money to decorate their Land NFTs and earn land tax by allowing other players to plant on their land; casual players can "work" for professional players to earn wages. Additionally, players can participate in irregular events led by the team (such as Thanksgiving turkeys, Easter eggs, etc.) to earn rewards.
In terms of interoperability, Pixels leverages the unique advantages of blockchain games—Pixels has achieved the first NFT integration, allowing users to connect their Metamask wallets and roam in the Pixels world as their NFTs. According to the Pixels team, over 50 NFT collections have been integrated so far. "In our view, discussions about the metaverse refer to an interconnected grid composed of adventures, games, and spaces, where your digital identity can flow."
In terms of the concept of decentralization, Pixels adopts a product-first approach, gradually achieving decentralization. Early decentralization is mainly reflected in the on-chain ownership of game items, but many game mechanics are executed on the server side, which can speed up development and shorten response times, thus providing players with a better gaming experience. In the future, the actual implementation of mechanisms can be migrated on-chain and into contracts.
In February 2022, Pixels completed a $2.4 million seed round of financing led by Animoca Brands and PKO Investments, with participation from OpenSea and others.
Recently, Pixels has taken a strategic move to migrate from Polygon to Sky Mavis's Ronin network. Pixels' popularity on the Ronin network has surged, with monthly on-chain transaction volumes exceeding 1.5 million. Such high activity proves the game's appeal and its ability to attract a large user base.
2. Pixels' Token Model
PIXEL is the native utility and governance token within the Pixels ecosystem, used for the following functions:
In-game currency:
NFT minting: All future NFTs from Pixels will exist in the form of PIXEL.
VIP membership: Users will be able to purchase VIP Battle Passes with PIXEL.
Guilds: Users will be able to use PIXEL to join new social networking features (guilds).
Quality of life upgrades: Premium game features will be sold at PIXEL prices.
Governance: PIXEL will ultimately be used for governance of the community treasury.
As of February 8, 2024, the project has raised $4.8 million through three rounds of private token sales, with 14% of the PIXEL token supply sold at prices of $0.005/$PIXEL, $0.009/$PIXEL, and $0.012/$PIXEL.
As of February 8, 2024, the total supply of PIXEL is 5,000,000,000, with a circulating supply of 771,041,667 (approximately 15.42% of the total token supply) after listing.
Recently, Pixels announced that it will focus on PIXEL and gradually phase out BERRY, allowing BERRY holders to exchange their tokens for PIXEL at a ratio.
3. What are the estimated returns? Is it worth borrowing tokens to mine?
As mentioned above, the private sale prices for the three rounds are: $0.005, $0.009, $0.012.
Assuming a maximum private sale return of 20-30 times, with an initial circulation of about 185-277 million, the annualized return is not particularly high.
However, since mining lasts for 10 days, I personally feel that the yield is decent, with annualized returns potentially exceeding 50%, which should be considered moderate.
As for whether to borrow tokens, USD can be exchanged for FDUSD when the price is low, and borrowing BNB should consider the interest rate; if it's too high, it may not be worthwhile.
4. What is the estimated launch price and how to operate?
For the launch price, I think we can refer to the estimation method of AI Aunt (@ai_9684xtpa), which should be relatively accurate.
BEERRY <> PIXEL exchange: BEERY price is $0.0027. Based on the calculation of 1000 BEERY = 7.6175 PIXEL, the cost of 1 PIXEL is $0.354.
Binance mining: Currently, the BNB borrowing rate on Venus is 74%, requiring a total interest of 2% over 10 days. Approximately 16 million BNB is currently deposited, and each BNB can mine a total of 17.5 PIXEL over 10 days, with a cost of about $0.365 per PIXEL.
The above are the costs of purchasing BEERY to exchange for PIXEL and the costs of renting BNB for mining, while the launch price should be higher than this, estimated to be reasonable between $0.4-$0.6.
If the launch opens low and rises, one could buy some around $0.3; if the opening price is high, it is advisable to wait and see for a while, as tokens recently launched on Binance tend to rise and then consolidate for a period, so there is no fear of missing out.
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