IMT Token Experiences a Decline; Planetarium CEO, Kim, Maintains Commitment to Long-Term Development
The Slick Slide of Immortal Rising 2's IMT Token
The ol' IMT token for Immortal Rising 2 has taken a nose-dive, plummeting a whopping 53% since its launch on March 28. Now, you might've thought a dive like that was par for the course, but even JC Kim, the big cheese at Planetarium Labs, was abashed by the sheer drop. In a formal squawk, Kim spilled the beans about the company's game plan and the state of the wild, wild web3 gaming world.
Kim cleared the air about the launch price of the token being intentionally kept under wraps. You see, Planetarium didn't want to overpromise, unlike many web3 ventures that aim for a sky-high Fully Diluted Valuation (FDV) at launch. According to Kim, such high-FDV launches have caused more problems than they're worth, a stance he's been taking since time immemorial.
The High-FDV Launch Fiasco
Kim ain't mincing words when he says a higher initial price would've been a cakewalk for airdrop recipients and even the devs themselves. But the team wasn't having it, convinced it was a key reason why web3 gaming is as dead as a doornail.
He also took a swipe at launching tokens on centralized exchanges from day one, claiming it artificially hypes prices and benefits early investors and project teams. In Kim's view, high-FDV token launches are a sneaky way for teams and early birds to stick it to Day 1 buyers.
Despite the prices taking a nosedive, Planetarium's eyes are still set on the horizon. Kim guaranteed the community that the team hasn't offloaded a single IMT token since launch and is hell-bent on delivering games that'll make your head spin.
"Ideally, we'd be welcoming everyone with open arms, but if we gotta pick, prioritizing long-term holders and stakers is what's best for 'em."
Now, if the short-term price action ain't tickling your fancy, it's all about Planetarium's long game when it comes to sustainability in the web3 gaming universe.
Katsubet*5BTC or 111% + 111 Free Spins!* Visit Site***While the short-term ride might leave a bad taste, Planetarium's strategy is a testament to a sustainable future for web3 gaming.
- Despite JC Kim, the CEO of Planetarium Labs, being taken aback by the immense drop in the IMT token price, he maintains that the team will continue to deliver games that will impress the community.
- Kim also criticizes the practice of launching tokens on centralized exchanges from the beginning, arguing that it artificially inflates prices and benefits early investors and project teams.
- In a formal statement, Kim admitted that Planetarium intentionally kept the launch price of the IMT token under wraps to avoid overpromising, similar to many web3 ventures that aim for a high Fully Diluted Valuation (FDV) at launch.
- Investors who had received airdrops of the IMT token may have benefited from a higher initial price, according to Kim, but Planetarium chose not to do so as they believe it would be detrimental to the growth and sustainability of web3 gaming.
