Pixelmon completed its first pre-sale of NFTs on February 7th. The sale took place in a dutch auction with a starting price of 3 ETH. Pixelmon managed to sell 7,750 NFTs for a total of approximately 22,475 ETH or the equivalent of $70 million. The sale lasted less than 30 minutes.
Pixelmon is, without doubt, the play-to-earn project that got the biggest funding of all time for a game created by a 21 years old no one knew a few months ago.
Aiming to be the Pokémon of the blockchain world, the project had a surprisingly long list of issues and scandals that demolished the value of their project, the morale of the investors, and halved the value of their NFTs on OpenSea.
Players felt robbed, the community was shocked, and Pixelmon’s CEO tried to explain how we ended up here on Twitter. Let’s take a step back.
How did Pixelmon use the funds?
There is plenty of controversy over how the funds were used. The Pixelmon team allegedly used 400 ETH of the development funds to buy some NFTs such as Bored Ape Yacht Club (BAYC), CloneX, and Azuki.
Additionally, users found out some of the art was possibly stolen from the Unity Marketplace and other designs were purchased from Upwork, a freelance marketplace where businesses can hire people for cheap.
The 21-year-old founder commented on the topic guaranteeing no funds have been used improperly, and that the 70 million were raised after the initial art developments, meaning they took advantage of cheap labour and the available assets in Unity because they didn’t have any funding at the time.
Almost no one seems to believe him, though, as several Pixelmon holders followed the transactions in the ETH wallet of the founders and noticed a $1.1mln move that was then used to purchase several NFTs from hot projects in the space.
There is plenty of controversy over how the funds were used. The Pixelmon team allegedly used 400 ETH of the development funds to buy some NFTs such as Bored Ape Yacht Club (BAYC), CloneX, and Azuki.
Additionally, users found out some of the art was possibly stolen from the Unity Marketplace and other designs were purchased from Upwork, a freelance marketplace where businesses can hire people for cheap.
The 21-year-old founder commented on the topic guaranteeing no funds have been used improperly, and that the $70 million were raised after the initial art developments, meaning they took advantage of cheap labour and the available assets in Unity because they didn’t have any funding at the time.
Almost no one seems to believe him, though, as several Pixelmon holders followed…
Read More: www.playtoearn.online