Pixelmon Minted $70 Million Worth of NFTs in Dutch Auction

Pixelmon Minted $70 Million Worth of NFTs in Dutch Auction

Floor price on secondary market is now below mint price

Pixelmon is an upcoming open-world RPG that completed its first NFT presale on February 7th, generating a whopping $70 million in sales. They used a Dutch auction for the presale with a starting price of 3 ETH per NFT. The collection sold out fast and still traders offer their NFTs for sale below the initial mint price. 

The impressive presale will help fund the game development process, as the Pixelmon universe is still not publicly available. During the Dutch auction, collectors had a chance to mint a character NFT with a starting price of 3 ETH. The price dropped 0.1 ETH every ten minutes, as the team sold 7750 Pixelmon NFTs during the Dutch auction. 

Importantly, a Generation 1 Pixelmon gives owners exclusive presale access to the platform’s native token which they plan to launch in Q2 2022. Additionally, Pixelmon NFT collectors will get pre-launch Pixelmon land reservations by the end of the current quarter, early access to the game’s alpha release, and other perks yet to be announced. 

What’s more, Pixelmon NFTs will be the main characters in the upcoming multiplayer, play-to-earn RPG.

What is next for Pixelmon?

The Pixelmon team aims to create the largest and highest quality game the NFT space has ever seen. The platform will gradually evolve into a virtual metaverse where you can play with friends, battle, and train characters, trade items, decorate your home, and customize your virtual avatar.

Typically projects of this magnitude take at least 2 to 3 years to go from concept to final product. Initially, the team planned to release the full game in Q2 2023. However, with the increase in funding following the NFT mint, this process will speed up. According to the official website, the full game is expected to land a year early in Q3 2022, with an alpha release as early as June 2022.

DappRadar will continue monitoring Pixelmon as the team pushes on to release the official game. To learn the latest blockchain gaming and NFT news, follow DappRadar on Twitter, or join DappRadar PRO. With PRO you get access to exclusive Discord discussion and the most up-to-date NFT sales data.

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