Pixels NFT Report: Volume Rises 81% Amongst Game Updates & Ronin Migration

Boasting a vibrant community of enthusiastic players, Pixels defines a new era in web3 gaming. Pixels is an open-ended world of farming and exploration, where players can gather resources, advance skills, and build relationships while exploring the story and quests within the Pixels Universe.

The game aims to be an easy-going, fun blockchain-backed game, serving as a gateway for millions into the world of web3. It’s part of a broader mission to set a standard for blockchain gaming, emphasizing equitable wealth distribution, transparency, and ownership.

This is an executive report providing readers with a high-level perspective of NFT collections. The report focuses on trading metrics, including sales activity, price analysis, and distribution metrics like Unique Active Wallets (UAW) and Whale Concentration Index.

Key takeaways

• Player Base: In the past 7 days, Pixels has registered over 278.78k on-chain transactions, 119% more than the previous week. The number of UAW rose by 14% to 66.96k.
• Community Engagement: Pixels’ vibrant Discord community with 120,000 members indicates significant popularity and player engagement.
• Ronin Blockchain Migration: Pixels has transitioned to t1 he Ronin blockchain, enhancing its economic system with the in-game token $BERRY now active on this chain and helped increase the number of UAW on Ronin by 83% in a week.
• NFT Collections — Land and Pets: The game features two primary NFT collections: Land, with each of the 5,000 NFT farms individually numbered and located along the game’s Rainbow Road, and Pets, which are digital companions that offer additional storage and expanded interaction radius in the game. Pixels NFTs trading volume rose by 81% ($495.08k) and the average price grew by 45% ($1.22k) in the past week.
• Farm Land NFTs Trading Metrics: The Farm Land NFTs have a total volume of $17.28M, with a floor price appreciation of 816% from 0.06 ETH to 0.55 ETH, 1987 unique holders, and a whale concentration of 15.94%.
• Team Composition and Focus: The Pixels team comprises experienced game developers and blockchain experts, focused on evolving the game from a Web3 farming platform to a decentralized virtual world, emphasizing community involvement in its development.

Migration to Ronin Blockchain

Pixels has recently made a significant move by going live on the Ronin blockchain, a decision that allows players to use their Ronin Wallets for transactions within the game.

The in-game token $BERRY is now active on the Ronin chain, enhancing the game’s economic system.

Ronin is designed with a focus on security and reliability, which are critical for games involving financial transactions and digital assets. A secure and reliable blockchain foundation is essential for maintaining the player’s trust and the integrity of the game’s economy.

Overall, the migration to Ronin represents a strategic move for Pixels, aligning with its goals to provide a better, more accessible, and more engaging blockchain gaming experience.

NFTs Overview

In the game Pixels, there are two primary NFT collections: Land and Pets, each with distinct functionalities and purposes. During the week of the Ronin migration, there was a spike in Pixels’ NFT trading volume. Let’s analyze each of the two Pixels NFT collections launched so far.

Pixels NFT Trading Volume Chart — From October 15 until November 15, 2023

Farm Land Trading Overview

Farm Land plots in Pixels are represented by NFTs and offer unique gameplay experiences. These farms are special areas within the game where players can engage in farming, resource gathering, and crafting activities.

Each NFT farm is individually numbered from 1 to 5000 and is located along the game’s Rainbow Road. Players can acquire these NFT farms through the game’s official marketplace. Owning an NFT farm provides players with ownership and control over a specific location in the game, as well as additional benefits like earning extra bookmarks for convenient in-game travel. Let’s take a look at the collection’s statistics since its mint.

• Blockchain: Ethereum
• Launch date: January 31, 2022
• Edition size: 5,000
• Floor price at mint: 0.06 ETH ($161.35)

The data reflects robust growth in the Pixels Farm Land NFT market, with a striking 816% floor price appreciation and a considerable $17.28M total volume. While unique holders stand at 1,987, a moderate whale concentration of 15.94% suggests a fairly distributed ownership.

The trading statistics for Farm Land by Pixels over the past week indicate a significant community response to the game’s latest updates, including the Carnival event, the introduction of Pixels Pets, and the migration to the Ronin blockchain.

The data shows a substantial increase in trading volume, up by 79.43%, and a 33.84% rise in the floor price, suggesting a growing interest in the Farm Land NFTs. The decrease in buyers accompanied by the average price of the NFTs reflects an increased valuation of the assets.

These metrics may point towards Farm Land NFTs being a promising gem within the NFT space, as perceived by the market’s reaction to Pixels’ recent developments.

Pets

Pixels Pets are digital companions within the game, minted as NFTs on the Ronin Chain. They serve as both a status symbol and a functional element that enhances the gaming experience and were part of a larger update to the game, which included the migration to the Ronin blockchain and other features.

Each pet comes with three key stats: strength, speed, and luck. These stats determine the benefits provided by the pet. Keeping a pet happy by providing food, water, and playtime is essential for accessing their benefits — offering more storage, and expanding the player’s interaction radius with objects, players, and entities in the game.

The Pixels Pets NFT collection was not distributed as an airdrop. Instead, it was introduced through an in-game event known as the Pixels Carnival. Here’s how the process worked:

1. Acquisition of Pets: Players could earn tickets by participating in various mini-games within the Pixels Carnival. These tickets could then be redeemed at a Prize Trailer for a chance to win various items, including Pets, Industries, Decorations, and more. Among the top prizes were 200 Pixels Genesis Pets coupons.
2. Minting Process: Players who obtained a Pet Coupon could mint a Pets Capsule, which would appear in their Pets Dialogue and within their Ronin Wallet. The minting of these Pets Capsules was an interactive process within the game, involving the use of a Pet vending machine.
3. Hatching Pets: After acquiring a Pets Capsule, players could hatch their pets by going through a series of steps, including using a Growth Lab on their land and crafting potions. The hatching process required player involvement and was part of the gameplay experience.
4. Utility and Engagement: The Pets, once hatched, provided additional storage and an expanded interaction radius for the players in the game. They also had specific stats like strength, speed, and luck, which influenced their utility in the game.

Therefore, the Pets collection was integrated as a feature within the game’s ecosystem, requiring player engagement and participation, rather than being simply given away as an airdrop. Below are the collection’s stats at the time of writing (via DappRadar data):

• Edition Size: 145
• Unique Holders: 95
• Floor Price: 1700 RON ($1,350)

Social Awareness and Engagement

Pixels has built a robust online presence and a dynamic community. Its Discord server, with over 120,000 members, is a hive of activity, fostering discussions, strategy sharing, and community events.

This vibrant engagement is a sign of the game’s compelling nature and its ability to retain a loyal player base.

Further, Pixels keeps its community updated and engaged through its website and help desk, providing timely updates on new features and encouraging player feedback.

This active communication reflects a strong connection between the developers and the community.

Moreover, the game’s social media presence, with around 125,000 followers, extends its influence and interaction beyond Discord.

These followers actively engage with content and discussions, enhancing the game’s reach.

Together, these platforms showcase Pixels as more than just a game; it’s a community-centric experience where players play a vital role in shaping the game’s journey and narrative.

Whale wallet analysis

The Whale Concentration for the FARM NFTs in the Pixels collection, calculated at 15.94%, indicates a moderate level of concentration. This percentage, derived from the fact that whales (top holders) own 797 out of the 5,000 FARM NFTs, suggests that a significant, but not overwhelming, portion of the collection is held by a relatively small number of investors.

With nearly 16% of the collection concentrated in the hands of top holders, these individuals or entities could have a notable influence on the market dynamics of the FARM NFTs, such as pricing and liquidity.

From an investor’s perspective, a WCI of 15.94% represents a moderate risk of market manipulation. It is not so high as to suggest imminent risk, but it is substantial enough to warrant consideration, especially for potential buyers or current holders.

Team Overview

At the heart of Pixels is a dynamic and diverse team of professionals, each bringing unique expertise and vision to the game.

This dedicated group is comprised of seasoned game developers, blockchain experts, and creative minds passionate about crafting an engaging and innovative gaming experience.

Their collective efforts have been instrumental in evolving Pixels from a simple Web3 farming game to a comprehensive decentralized virtual world.

With a blend of technical skill, artistic creativity, and a deep understanding of the gaming community, the Pixels team continues to push the boundaries of what’s possible in the gaming metaverse.

Conclusion

The Pixels NFT ecosystem demonstrates robust vitality and diversity, underscored by a formidable player base exceeding 80.97k UAW in the past 30 days (source).

With its strategic migration to the Ronin blockchain and the rollout of the $BERRY token, Pixels is reinforcing its economic foundations and gameplay innovation. The recent surge in the Land NFTs’ market value, coupled with a balanced distribution among holders, suggests a thriving trade environment post-updates.

The engaging rollout of Pets NFTs further positions Pixels as a compelling investment in the dapp sphere. These indicators, following the game’s latest enhancements, signal Pixels’ potential as a strong contender for sustained interest and growth in the dapp market.