Regardless of plummeting IMT token worth, we're right here “for years to return” says Planetarium CEO JC Kim

Following the launch of Immortal Rising 2’s IMT token on twenty eighth March, its worth has seen a gradual 53% drop.

Though not anticipating a powerful preliminary upward trajectory, the sharp lower has “even” shocked Planetarium Labs CEO JC Kim, who has penned down an official ‘Message from the CEO’ in response. 

Though decrease than anticipated, Kim explains why the worth drop was an anticipated final result, as Planetarium, the writer of Immortal Rising 2, deliberately aimed to keep away from a excessive FDV launch. This mainly means it didn’t strive pump the token’s theoretical pre-launch valuation. As a substitute, it took an natural strategy, which Kim says was once the gold commonplace for launching tokens in web3 gaming till the high-FDV launches turned widespread observe.

Though clearly understanding {that a} greater launch worth could be extra satisfying for IMT airdrop recipients, in addition to profit the developer’s personal money baggage, this was by no means an choice for the staff. Certainly, the high-FDV observe is vital to “why web3 gaming is quietly dying”, as Kim places it. 

One other downside Kim factors out is how web3 sport builders choose to listing their tokens on centralized exchanges from day 1 of launch. This technique creates deliberately inflated token costs which is helpful solely within the quick time period, and just for the groups and traders themselves. The plain losers are day 1 patrons. 

“Excessive FDV token launches are structured in order that challenge groups and early contributors successfully rip-off Day 1 patrons,” he says.

As a reassuring conclusion, he additionally states that Planetarium just isn't fearful. The staff has not offered a single IMT token since launch, and stays targeted on supporting its neighborhood and constructing nice video games for years to return. 

“Ideally, we’d embrace everybody, but when selections should be made, prioritizing long-term holders and stakers is more healthy.”

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