Pixels

Pixels is a play-to-earn (P2E) social farming game operating in the Web3 and metaverse sectors. Founded in 2021 by Luke Barwikowski, the company is developing an open-ended world focused on farming, exploration, and crafting, built on the Ronin blockchain. Barwikowski, who serves as CEO, began coding at age 12, has a background in computer science and economics, and built and sold his first app at 18. His journey into Web3 was influenced by his fascination with building economies from the ground up and his prior experience in the virtual events space.

The company has secured $7.2 million in total funding over three rounds, including a $2.4 million seed round in February 2022 and a $4.8 million Series A round in February 2024. Key investors include Framework Venture Partners, Animoca Brands, Collab+Currency, and OpenSea Ventures. A pivotal moment for the company was its migration from the Polygon network to Sky Mavis's Ronin network in late 2023. This strategic move resulted in lower transaction fees and a significant increase in its user base, surpassing one million daily active users by May 2024.

Pixels generates revenue through a freemium model, with in-game purchases of virtual items and a VIP membership serving as primary income streams. The platform utilizes a dual-token economy. The $PIXEL token, with a capped supply, functions as the premium in-game currency for purchasing items, upgrades, and NFT minting, while also granting governance rights. The secondary currency, Coins, is an off-chain token used for standard gameplay transactions. This system is designed to create a sustainable economic model. The core gameplay loop involves players gathering resources, cultivating land, completing quests, and interacting within a pixelated, open world. The game integrates Non-Fungible Tokens (NFTs), allowing players to have true ownership of in-game assets like land and pets, which can be traded on marketplaces.

Keywords: play-to-earn, P2E, web3 gaming, blockchain game, NFT, metaverse, Luke Barwikowski, Ronin network, crypto game, social farming game, virtual world, digital collectibles, in-game economy, PIXEL token, Sky Mavis, Animoca Brands, Framework Venture Partners, virtual land, MMO, crafting, play-to-earn model