Sizable chunks of tokens tied to crypto games or gaming platforms could come onto the market in the coming weeks. Nearly $250 million worth of gaming tokens are set to be unlocked by the end of March, per data aggregated by Token Unlocks.
Crypto projects often lock away sizable portions of their token supplies years in advance, which means that tokens intended for developers, investors, community funds, and other groups get unlocked in waves over time. Crypto traders and investors watch these unlock schedules closely, as a flood of additional tokens on the market often impact their price.
ApeCoin (APE)—the Ethereum token tied to the Bored Ape Yacht Club ecosystem including the Otherside metaverse game—is set to unlock 15.6 million APE on March 16. That’s about $38.2 million worth at the current price, and represents 2.55% of the current circulating supply.
Just one month after launching, the PIXEL token from Ronin farming game Pixels will hold its first unlock following the token generation event. On March 19, 54.38 million PIXEL will unlock, representing just over 7% of the circulating supply. That’s $42.5 million worth of the token, which hit a new all-time high price over the weekend.
Pixels Review: Should You Play the Buzzy Crypto Farming Game?
The crypto gaming space has been gripped by Pixels in recent months, and Decrypt’s GG is no exception. We’ve covered the rising player counts since migrating to Ronin, interviewed the founder about its surge, and detailed this week’s long-awaited PIXEL token launch. But unlike many gaming projects that enjoy a fleeting moment in the crypto spotlight, there’s an actual playable game behind the token hype—and it doesn’t require any expensive NFTs to play, and you don’t have to beg around Discord s...
IMX, the token of Ethereum gaming platform Immutable, represents the largest gaming token unlock in March, with 34.19 million IMX set to unlock on March 21. That’s about $117.3 million worth at the current price, and is equal to just under 2.5% of the current circulating supply. IMX also hit a two-year high last weekend.
Other notable gaming token unlocks this month include the YGG token of Yield Guild Games, with 16.69 million tokens—or about $15.9 million worth—unlocking on March 27. Also, NFT card game Parallel will unlock 1.66 million PRIME tokens on March 30, representing $32.1 million worth amid the token’s recent surge to another all-time high price.
Ronin Hits All-Time High Price as Ethereum Gaming Network Hosts Free ‘Kaidro’ NFT Mint
Ronin, a gaming-centric Ethereum scaling network, continued its recent ascent early Wednesday, setting a new all-time high price to beat its previous record from 2022. The RON token spiked to $4.45 early Monday, though it has since cooled slightly to $4.31 as of this writing, per data from CoinGecko. It’s still up 12% on the day, and the latest surge has pushed its seven-day gains to a whopping 53% following a weekend pump. The previous all-time high Ronin price was $4.29, set in January 2022—be...
Lastly, move-to-earn game Stepn’s GMT token will begin a 30-day linear unlock on March 31, with 3.32 million GMT opening up per day—that’s $1.23 million worth at the current price.
Edited by Ryan Ozawa.
