Pixelmon CEO bets on fractionalized NFTs for its huge comeback

Crypto project Pixelmon, once dubbed the “worst NFT project ever” — is turning to fractionalized nonfungible tokens (NFTs) to make its return from the dead. 

First launched in February 2021, the Pixelmon project became an instant sensation for all the wrong reasons, explained the project’s now-CEO Giulio Xiloyannis in an interview with Cointelegraph.

Source: ZachXBT

The project was launched on Feb. 25 by a 19-year-old developer who promised to deliver a Pokemon-esque game where people could collect, trade, train and battle monsters called Pixelmon.

However, the project became the laughingstock of the crypto world after raising $70 million in Ether (ETH) at the time, only to reveal 68 “questionable” NFT characters upon launch, including “Kevin” — an awkward-looking character that became the mascot of what was later dubbed the “worst NFT project ever.”

Kevin is the most famous NFT of the original Pixelmon project. Source: Pixelmon

Xiloyannis said when he swooped in to acquire the Pixelmon project in May 2022, he knew immediately that all of the artwork would need to be redone if the team were to revive the project and make something of it for its community.

The only NFT that wouldn’t be revamped was Kevin, which Xiloyannis described as a symbol of crypto’s resilience and something that should never be altered.

“Yes he’s a funny meme, but he’s the symbol that nothing ever dies in blockchain — that there is this resilience in the industry. That’s why we kept him as a symbol and that’s why we keep nurturing him.”

Fractionalizing the intellectual property of NFTs

Xiloyannis is aware of how the term “fractionalized NFT IP” could be confusing to many but says the reality of it is relatively simple once it’s broken down. He pointed to Pokemon as an example of how Pixelmon fits into the seemingly complex cross-section of blockchain gaming, NFTs, and intellectual property rights.

“Imagine if Nintendo had minted 100 NFTs of Pikachu in the 90s, and by owning one of them, you had a 1%…

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