Voxies (VOXEL), a newly launched play to earn token, is striving to regain its position after two weeks of trading. VOXEL gained more than 35% in the early days of 2022, to reach $3.79. VOXEL briefly recovered the $4 level.
The overall market for play to earn tokens had a slump in the past days on lowered trading volumes.
The overall play to earn collection of tokens slid in value, locking in about $29B in total market capitalization. However, more new tokens are getting added every day, possibly creating one of the big trends in 2022.
VOXEL Trading Started with Volatility
As with other newly launched projects, VOXEL started with significant volatility. The project held a token sale at the beginning of December through Binance Lauchpad, with a limit of 50 BNB per buyer.
The initial days of trading were extremely volatile, taking VOXEL to an all-time peak of $4.76. Fow now, the asset has not recovered this level, while touching lows around $2.50.
How High Can VOXEL Go
There is no guarantee on the price moves of digital assets. VOXEL has a relatively limited total supply of 300M tokens, with only around 60M in circulation.
This supply is similar to the range of Axie Infinity (AXS), which outperformed in 2021 from a low priced launch.
The coming months will show if play to earn tokens will have a more significant bullish season.
Is Voxies a Working Game
Voxies only exist as a limited demo game, where players can test game mechanics in a limited environment.
The project has also launched 9,999 genesis characters, which can create the next generation of playable NFT characters once the game is launched. In its final form, the game will offer two types of PvP battles, earning VOXEL as a reward. In-game items, Stones, will be used to breed new characters.
Voxies joins the list of play to earn games supported by Binance Launchpad, including The Sandbox and Alien Worlds.