Pixelmon released the tokenomics for the MON protocol a few days ago. The token will have the following main utility:
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Preferred gaming currency for Pixelmon games
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Governance of IP and ecosystem fund
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IP licensing flows
There will be 1B tokens in total. The most striking thing about the tokenomics is that 30% of the total tokens will be allocated to “Community Claim” — referring to NFT holders. 1/6 of this will be released at TGE and the remaining vested over 30 months.
This appears to be a very generous allocation to Pixelmon NFT holders, considering other recent gaming token launches. For example, Heroes of Mavia allocated just 3.5% of its MAVIA tokens to its NFT holders and it is unknown whether they will get additional tokens in the future.
I did some math on the potential value of tokens airdropped to Pixelmon NFT holders, at various FDV numbers for MON. Given that 1 Pixelmon NFT has a floor price of 1.7 ETH today ($4,500), the math does look compelling if you believe that MON could launch at ~$129M market cap / $1B FDV. For reference, as of today 13 Feb, here are the market caps and FDVs of several gaming projects:
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MAVIA: $239M market cap, $2B FDV
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BIGTIME: $180M market cap, $2B FDV
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SHRAP: $97M market cap, $850M FDV
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PRIME: $344M market cap, $1.1B FDV
Caveats: the calculations in the above table do not factor in an airdrop allocation for Pixelmon Trainers (a secondary NFT collection). We do not yet know what the split between Pixelmon NFT and Trainer NFTs will be for the airdrop allocation. We could perhaps include a discount of 20% in the airdropped token value here to account for this.
A few other notes:
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TGE for Pixelmon is expected in the coming weeks, likely Q1 2024.
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Pixelmon NFT holders will also qualify for the community pre-sale.
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Pixelmon NFTs with more & higher-tier Relics will likely receive a relatively larger proportion of tokens. You can check the relics of each Pixelmon NFT here
Disclosure: I own Pixelmon NFTs. Delphi Ventures is an investor in Pixelmon/MON protocol.
