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Giulio Xiloyannis is betting on fractionalized NFTs, believing they could be the hidden gold in the crypto world.
Pixelmon, a crypto game once ridiculed for its pixelated characters and raised $70 million, is making a comeback using fractionalized non-fungible tokens (NFTs).
Who is Giulio Xiloyannis?
Giulio Xiloyannis, CEO of Pixelmon, graduated in Economics from Scuola Sant’Anna in Pisa. He is the Co-Founder of LiquidX Studio, a Singapore-based video game publishing studio focusing on developing AA and AAA video games with blockchain integration.
About the Pixelmon Project
The project was initially launched in February 2021, intending to provide a Pokemon-like game where players could collect, trade, train, and battle monsters known as Pixelmon.
However, after raising $70 million in Ether and revealing only 68 questionable NFT characters upon launch, the project became notorious for all the wrong reasons. These included “Kevin,” an awkward-looking character that later became the mascot of what was dubbed the “worst NFT project ever.”
Xiloyannis, who acquired the Pixelmon project in May 2022, acknowledged that all the artwork needed to be redone for the project to be revived and developed into something substantial for its community.
The only NFT remaining untouched is Kevin, which Xiloyannis considered a symbol of crypto’s resilience and should never be altered. He stated that it represents the blockchain industry’s persistence and resilience, so they chose to keep it as a symbol and continue to nurture it.
Fractionalized NFT Can Be the Next Big Thing: Giulio
Xiloyannis believes that the concept of “fractionalized NFT IP” could confuse many people, but it is relatively simple when broken down. He used the example of Pokemon to explain how Pixelmon fits into the intersection of blockchain gaming, NFTs, and intellectual property rights.
Pixelmon will be entirely free to play, unlike other NFT-based blockchain games that use NFTs to enforce “gated” access to the game. Xilyoannis believes that this will lead to the actual adoption of blockchain-based games.
By owning a Pixelmon NFT, holders are entitled to royalties whenever the monster’s likeness is used outside the game, much like hypothetical Pikachu NFT holders receiving royalties every time it is featured in merchandise or other shows or games.
Pixelmon NFT owners are entitled to royalties through the MON Protocol’s native MON token. Recently, the MON token conducted a token pre-sale for its holders and distributed specific amounts of MON based on their respective NFTs’ rarity.
Summary
Pixelmon, a crypto game that raised $70 million, is making a comeback using fractionalized NFTs. However, potential risks for holders have been pointed out. The main concern is the subjective bet on which character will be most loved. The structure of the Pixelmon company is also a risk. It is built on a decentralized governance model and vets all licensing agreements through its community of holders. Xiloyannis thinks that allowing early fans to control where it goes is better for the longevity of an IP.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos, or other related indexes comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
