Our Story

Pixelmon began as an ambitious NFT project that captured enormous hype in early 2022, only to become a cautionary tale before transforming into a model of revival. Pixelmon launched its Generation 1 NFT collection on February 7, 2022, promising an open-world monster-collecting game. Collectors spent 23,000 ETH (~ $70 million) in a Dutch auction mint (at ~3 ETH each) for 7,750 Pixelmon NFTs, one of the most significant NFT raises. However, when the art was revealed two weeks later, buyers were horrified - the 3D models were unpolished and even "amateur" in quality.

One character in particular, a blocky green creature dubbed "Kevin," looked so absurd that it instantly became a crypto meme. Pixelmon was labelled the "worst NFT project ever." Pixelmon had become a punchline for NFT excess, and its floor prices plummeted over 90%. For a while, it seemed the project might fade away as an expensive lesson.

Instead, Pixelmon's story took a turn in 2022. A Web3 venture studio, LiquidX, now MON Co., saw potential in the underlying idea, especially in the dedicated community that still lingered. Co-founder Giulio Xiloyannis recognised that "while Pixelmon had its gigantic faults, it also had something priceless, a community." In September 2022, LiquidX negotiated a takeover, ultimately acquiring Pixelmon and installing Giulio Xiloyannis as CEO This new leadership brought industry experience and fresh funding, and crucially secured the project funds in multi-sig wallets. A new development roadmap was drawn, focusing on rebuilding trust before hype.