0xmons (XMON): Price Updates, Recent Developments, Future Events, Community

0xmons (XMON) are scarce digital collectibles encoded on the Ethereum network.
They include animated graphical creatures inspired by a mix of Pokemon, SCP, and Lovecraft games.
Each 0xmon has a unique animation paired with a unique name, or epithet.
The 0xmons project receives XMON and ETH fees through NFT sales and encoding fees.

0xmons are digital collectibles created on the Ethereum blockchain. They are inspired by some of the most popular games, including Pokemon, Lovecraft, and SCP. The preservation of every monster’s animation, name, epithet, and lore, is guaranteed for as long as the blockchain it is encoded in lasts.

The 0xmons non-fungible token is a part of a broader ecosystem that includes XMON, a utility ERC20 token and sudoswap, a P2P exchange for asset bundles. Users can benefit from the ecosystem’s NFT sales and encoding fees by staking their XMON tokens.

Recent Developments

On July 23, 0xmons launched the zkNFT platform, a proof-of-concept NFT marketplace showcasing the zkSync NFT API. It said the platform, currently in alpha version, will be able to support ERC20 tokens, NFTs, and asset swaps. The platform’s beta version is expected later this year.

In August, it launched the NFT Lottery on Mainnet, powered by ChainLink’s VRF for randomness, allowing users to create fair, on-chain RNG (random generator) drops for any NFT of their choice.

The 0xmons platform went live earlier this year, introducing it as a portal allowing users to experiment with NFTs, machine-learning algorithms, and an outlet for glitchy Cthulhu aesthetics.

Future Events

Looking forward, 0xmons has some interesting events lined up. The most exciting is perhaps the launch of a liquidity provision protocol for NFTs that uses the LSSVM approach for financialization. It will allow users to sell whole quantities of NFTs rather than using fractionalization, which breaks one NFT into smaller parts.

Another announcement that users will be looking forward to is the launch of the advanced version of the zkNFT platform later this year.

On The Flipside

The 0xmons platform is still in the alpha version, which means users could encounter some glitches before the advanced beta version launches later in the year.
The NFT market has taken a downturn lately, with debate growing about the longevity of the phenomenon.

0xmons (XMON) Price Updates

The XMON price swung to a 2.58% gain in the last 24 hours after plunging earlier in the day. The gaming and art NFT spiked to a new all-time high of about $17,105 last week before plunging to the current level of about $10,000.

The 24-hour price chart of XMON. Source: CoinMarketCap

The XMON token has a fully diluted market cap of $102.7 million as of this writing and had a trading volume of $773,639 over the last 24 hours. It began trading in February this year.

Community

On September 29, 0xmons made an update on Twitter about community incentives.

NFT projects promising a roadmap of dev after initial sale:

Why not lock up the ETH you make and stream it over time to the team?

How else can the team be financially incentivized to stay if they got all their payment upfront?
— 0????`"???¯??""???????x??°?????????_??m??????????¨ (@0xmons) September 29, 2021

However, not everyone was happy with the statement. One user wrote:

How does locking up ETH incentivize them to stay? They get the same amount of money for the same amount of work... just spread out over time.
— transmittingonline (@transmittingon1) September 29, 2021

Another one appeared to agree with 0xmons’ suggestion, positing:

Exactly this. Because of how dynamic NFTs and the space can be, it’s better to spread it out. Upfront payment is old school and not effective.
— JO?SDAILY (@JoesDaily) September 29, 2021

Therefore, although XMON seems to offer an exciting marketplace for users looking to get involved in the NFT market, not everyone is on board with the approach the platform has taken to incentivise the community.

Why You Should Care?

Non-fungible tokens have helped to bring the video gaming and art industries to the crypto market. As a result, users can now easily invest in more complicated NFTs like XMON, which leverages the power of machine learning and some of the most popular video game monsters.