Pixels, a blockchain-based farming and social game, created waves in the cryptocurrency market on Monday when it introduced its own PIXEL token, which saw a sharp rise in value.

On its first day of trading, the value of the PIXEL token increased by 22.7% thanks to the popularity of several play-to-airdrop campaigns and involvement in Binance Launchpool’s incentives scheme. This significant increase in value has driven the token to a $441 million market capitalization, according to CoinGecko data, ranking PIXEL in the top 200 cryptocurrencies by market value.

Valued at more than $0.58 per pixel

The PIXEL token is now trading for more than $0.58 with the current supply in circulation. There are currently about 771 million PIXEL tokens in circulation out of a total quantity of five billion. The data indicates a robust market interest in the new token, with a potential fully diluted valuation reaching $2.8 billion.

The leading cryptocurrency exchange, Binance, was essential to PIXEL’s success in the market. 350 million PIXEL tokens were made available to anybody who staked Binance Coin (BNB) or the FDUSD stablecoin during the token’s debut on Binance’s Launchpool platform. Soon after the introduction, Binance quickly added PIXEL to its trading list, bringing further accessibility and liquidity to the larger cryptocurrency community.

PIXEL Airdrop Reward for Ronin Gamers

Pixels offered a 20 million PIXEL airdrop for those that staked Ronin’s RON token over the weekend as a calculated attempt to encourage user participation. Ronin’s value has increased by 17% in the past week, even with a minor decline on Monday. Earlier this month, the token hit a two-year high of $3.49. This airdrop gives Ronin gamers who are actively participating in the ecosystem a new level of incentive.

Pixels: A Combination of Vintage Farming Games and Virtual Currency Economy

Pixels, which is reminiscent of vintage agricultural games like Harvest Moon and Stardew Valley, has established a name for itself by fusing an NFT-based land plot and pet economy with a cryptocurrency token economy. The game was first created on the Polygon network and moved to Ronin, a gaming-only sidechain, last autumn. Thanks to this calculated move, Ronin’s user base has grown dramatically, with daily active users rising from 20,000 in the fall of last year to an astounding 700,000 as of late.

The triumphant debut of PIXEL and its subsequent market performance, in conjunction with tactical alliances and customer-focused rewards, highlight the increasing convergence of blockchain gaming and the wider cryptocurrency landscape. As Pixels develops further, it will become a significant participant at the nexus of decentralized finance and gaming, paving the way for additional advancements in the field.