Pixelmon Secures $7.1 Million in Mon Protocol Community Pre-Sale

LiquidX Studio, the developers of Pokémon-inspired Pixelmon, have announced that they have successfully raised an astounding $7.1 million in a community pre-sale for the upcoming $MON token of their IP governance platform, Mon Protocol.

The pre-sale, announced back in January, lasted 48 hours from Monday, February 26th, 9 AM EST / 10 PM SGT, to Wednesday, February 28th, 9 AM EST / 10 PM SGT. There were 62,092,000 $MON tokens allocated for this sale, representing 6.2% of the token’s total supply. Eligible participants had to purchase tokens in bulks, with one lot said to include 2888 $MON tokens. Each lot was priced at 0.096 $ETH, and the amount of guaranteed lots participants could purchase was based on the rarity of the Pixelmon and Golden Trainer NFTs owned when the snapshot was taken.

Pre-Sale Results

From the moment the sale started, it took only 8 minutes to reach 100% allocation, but eligible NFT owners who were on the guaranteed list or waitlist were still able to deposit their assets and join the sale, leading to a 200% allocation in only 1 hour. By the end of the 48-hour period, the original goal was exceeded further, marking a highly successful token sale that ended at 270%.

Shortly after the end of the pre-sale, Mon Protocol announced the results on Twitter/X, revealing that a total of 56,695 lots was received, out of which 21,500 was sold, leading to the studio raising a massive number of 2064 $ETH, valued around $7.1 million at the time of sale, and now about $7.8 million at the time of writing. While the number of guaranteed lots that were accepted and allocated was 16,821, the amount of waitlist lots deposited was 39,874, out of which 11.7%, or 4,679 was allocated. Waitlist participants who weren’t lucky enough to receive an allocation can actually get a refund by heading to the official pre-sale page.

The CEO of Pixelmon and co-founder of LiquidX Studio, Giulio Xiloyannis, had the following to say following the successful raise:

“We wanted to offer a pre-sale mechanic that would allow our community to enjoy the best terms in the launch of our partner project Mon Protocol. We dedicated significant time to creating a fair balance that benefits our loyal, long-standing community members without being disadvantageous to newcomers. The overwhelming response to our pre-sale shows the strength and commitment of our community and will hopefully serve as an inspiration to other projects for how to reward members who stayed true and showed steadfast support during the bear market.”

Users who won the allocation are advised to not sell or transfer their NFTs during the coming weeks in order to ensure that they receive their guaranteed tokens. According to the pre-sale page, 20% per lot will be possible to claim when TGE (Token Generation Event) takes place, and after 6 months from the token launch have passed, the remaining 80% tokens in each lot will be vested daily for 24 months.

This pre-sale comes not long after Pixelmon secured $8 million in seed funding from the likes of Animoca Brands and Delphi Ventures. In February, it was revealed that LiquidX Studio partnered with Immutable, which will lead to Pixelmon launching on Immutable zkEVM.