X Empire Token Launch on TON: Thursday, October 24th saw the highly anticipated launch of the X token from the Telegram-based game, X Empire, on The Open Network (TON) blockchain.
Over 6 million players were said to be eligible for the much-talked-about airdrop, yet the token’s value began with a stumble, launching at approximately half of the estimated pre-market price. The event has since drawn significant attention as the price has continued to fluctuate, leaving many players disappointed.
A Lackluster Debut
The X token debuted at $0.000096, based on initial data from CoinMarketCap, which was already below pre-market predictions. Throughout the day, the price remained volatile, dipping to a low of $0.00005 and briefly climbing to a peak of $0.00013. However, as of press time, the token had settled at roughly $0.000087.
This sharp fall in value from initial expectations has raised concerns among many in the community, especially those who had been following the token’s pre-market performance.
Leading up to the launch, traders on platforms like Bitget and Kucoin had been betting on a much higher opening price for the token, with the average pre-market trading price sitting at around $0.0002.
However, the actual debut price was just half of that figure. As a result, many traders who were hoping for a strong start have been left reeling from the token’s shaky performance.
Disappointment Among Players
In addition to the underwhelming price, X Empire players have voiced frustrations with the size of their airdrop rewards. Numerous players took to social media, complaining about the limited value of the tokens they received. Reports indicated that many players earned less than $10 worth of tokens despite playing the game for several months.
This dissatisfaction among the community has drawn parallels with other recent Telegram game token launches. Notably, players of games like Hamster Kombat and Catizen have expressed similar concerns about airdrop distributions. Despite X Empire’s claim of over 50 million players, the developers appear to have left many users feeling excluded or unsatisfied with their token allotments.
The Broader Impact on Tap-to-Earn Games
The struggles faced by X Empire are just the latest in a growing trend of underwhelming airdrops within the Telegram gaming ecosystem.
Earlier this year, the game Notcoin saw unprecedented success with its token, which peaked at a market cap nearing $3 billion. However, since that time, subsequent token launches have failed to live up to those lofty expectations.
The most successful games following Notcoin include Hamster Kombat and Catizen, which currently hold market caps of $217 million and $106 million, respectively. By comparison, X Empire’s current market cap stands at just under $40 million—a significant drop from what many had anticipated.
Despite these challenges, the developers of X Empire have hinted at future developments for the game’s token holders. Among the upcoming features are exclusive Telegram apps that will offer benefits such as access to a dedicated news feed and even a language learning app. The developers have also teased a major announcement in the coming weeks, set to take place one month from now.
High Expectations, Low Returns
As the latest in a series of tap-to-earn games, X Empire had built a substantial following in the lead-up to the token launch. But like its predecessors, the game has struggled to meet the lofty expectations placed upon it. Pre-market trading, while exciting for speculators, can be risky, particularly when tokenomics and airdrop details are still unclear before launch.
- What’s Next for X Empire Token Holders?
For many players, X Empire represents a cautionary tale about the perils of relying on pre-launch hype. The Telegram gaming community will be watching closely to see if the upcoming developments can help turn the tide for X Empire. But for now, the token’s rocky start serves as a reminder that success in the crypto gaming space is far from guaranteed.