Original Author: 0xKira

Translation: Zen, PANews

Earlier this month, Binance's new coin mining announced the launch of Pixels (PIXEL), and announced that it will be listed on February 19, 2024, at 18:00 (UTC+8) and open PIXEL/BTC, PIXEL/USDT, PIXEL/BNB, PIXEL/FDUSD, and PIXEL/TRY trading markets.

Following the release of this major positive news, Pixels immediately disclosed the completion of a $4.8 million strategic financing, with investors including Framework Ventures, Collab+Currency, Volt Capital, Yield Guild Games, Sky Mavis, Tokenmetrics ventures, Forj Network, Mechanism capital, Fenbushi Capital, and others. Previously, a report from Binance Research Institute revealed that Pixels had 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. This financing announcement is the official public disclosure by Pixels.

What is Pixels?

Pixels is a social, casual, open-world Web3 game and platform launched in 2021, aimed at allowing users to build their own games and natively integrate existing digital collectibles. After gradual development and expansion, Pixels chose to migrate from Polygon to the Ronin network at the end of last year, the latter being an Ethereum Virtual Machine (EVM) chain developed by Sky Mavis, the developer behind the popular blockchain game Axie Infinity.

As a pixelated farming game, the main experience of Pixels revolves around collecting resources, which are divided into various types such as crops, wood, and stone, among others. These resources are further categorized into different rarity levels. Some resources and rarities can only be obtained from specific types of land. Currently, agriculture is the main industry in Pixels. Players can plant crops on farmland, and all crops planted on farmland owned by the landowner will generate income. Planting crops requires energy, which is the main limiting factor in the game. Energy gradually replenishes over time or can be restored through in-game food.

With resources, players can cook food or create valuable items such as furniture and tools. These skills require corresponding blueprints or recipes to complete, which can be obtained through game progress or events. Additionally, Pixels allows for the integration of NFTs, and players can choose their NFT as a digital avatar in the game. Currently, it supports over 80 NFT collections, including Pudgy Penguins, Bored Ape Yacht Club, Lazy Lions, Cryptoads, and more.

Economic System in Pixels Game

The game's economic system revolves around three main aspects: land, resources, and tokens. Land is an NFT asset that can be openly traded. Landowners enjoy unique benefits that allow them to benefit from activities on the land and manage their own land. Owned land also contains resources that cannot be obtained on public land. However, owning land is not a prerequisite for playing the game, and users can start playing for free.

Resources are the main source of income in the Pixels game and are the basic components or elements of items in the game, obtained through crafting. As players progress, the quantity and rarity of resources will become more difficult to collect. Therefore, they will have to spend more time and effort to improve themselves to obtain higher-quality resources.

BERRY is the main in-game currency in Pixels, obtained by selling collected resources to in-game shops. BERRY can also be used to purchase in-game items, serving as the primary mechanism for token burn. For players who do not own land and rent it, they also need to use BERRY to maintain the land. However, with the upcoming release of the second chapter of Pixels, BERRY will be replaced by an off-chain token to prevent abuse of BERRY tokens by bots.

PIXEL Token Economics

On February 19, the PIXEL token will be officially launched in a token generation event (TGE) supported by Binance Launchpool. Unlike BERRY, PIXEL has a fixed total supply of 5 billion tokens. The circulating supply at TGE will be 15.42%, or 771 million tokens. The relationship between BERRY and PIXEL can be likened to the operation of most mobile games, with soft currency and hard currency. Soft currency is earned through in-game actions, while hard currency is typically obtained by paying with real money. Hard currency is usually not necessary for gameplay but is often used for user convenience, improvements, or aesthetic upgrades.

For Pixels, the PIXEL token will be used to pay for new advanced features such as Realms, guilds, pets, and memberships. Additionally, the token can be used to increase energy, speed up construction time, unlock new skins, and more.

Due to its hard cap, the distribution of PIXEL tokens will be more strictly controlled than BERRY. Players can earn PIXEL by completing difficult tasks on the mission board, taxes collected by landowners for planting crops on their land, or transaction fees generated by guild membership. The supply of PIXEL will also be strictly controlled to prevent excessive distribution, and the team will balance the distribution and burn of PIXEL through experimentation and adjustments. PIXEL spent in the game will also be sent to a community fund and will only be used after 12 months, at which point control will be transferred to a decentralized autonomous organization (DAO) managed by PIXEL holders.

Most of the supply of PIXEL tokens will be allocated to ecosystem rewards, which will be distributed linearly over five years. Investors will be subject to a one-year lock-up period, after which the tokens will be linearly distributed over three years. In addition, the project will also conduct airdrops to reward eligible users from the pre-alpha version of Pixels in October 2022, active users in the first five weeks of the TGE, and BERRY token holders. These tokens account for 5% of the supply and will be fully unlocked at the TGE.

Roadmap for Pixels

So far, the Pixels team has achieved a significant milestone, with over 1 million unique users and over 180,000 daily active users. Pixels founder Luke Barwikowski stated that the game has an important future roadmap, including enriching the current agricultural gameplay, expanding the scope of the game, and finding new ways to incentivize and reward players in the future.

With BERRY being deprecated and PIXEL set to launch, the game has implemented a new mission board that allows players to complete daily tasks, some of which will reward PIXEL tokens. In the near future, the game will also change the management of scarce resources and provide more benefits for NFT landowners. The team will carefully conduct experiments with the in-game economy to ensure the long-term sustainability of PIXEL. Additionally, new updates will be rolled out quarterly this year, including new explorable areas, pets, combat systems, and Realms, enabling player-created content in the second chapter of Pixels.

Realms is a metaverse and blockchain gaming tool that can create multiplayer 2D virtual spaces for player interaction. Additionally, Realms allows other projects to integrate their land NFTs into their metaverse, as well as use NFT collectibles as in-game avatars; other projects can create their own stores in Realms and integrate tokens for various transactions. Pixels also plans to release its own Realms scripting engine to further facilitate the development of other projects on the platform.

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