A Message from the CEO: Not a Pump, But a Promise

Written By Publishing Planetarium

A Message From The CEO:

Not a Pump, But a Promise: $IMT and the Future of IR2

Dear Immortals

$IMT has launched, and its current market price seems lower than many people's expectations. To be honest, although I typically avoid mentioning token prices, I admit the current price is lower than even my own expectations.

From before the launch of Immortal Rising 2, I clearly stated our intention to avoid a high FDV launch, opting instead for an organic approach to TGE, as mentioned several times.

A high FDV launch is something a project team can set up intentionally by coordinating with exchanges and market makers. For the past year, it has become a common practice to artificially boost initial prices to satisfy community expectations and immediate sellers.

While a high Day 1 FDV would undoubtedly make our 80,000 airdrop recipients happy (which has the biggest part of the initial supply), it would make Planetarium Lab the largest investor, largest IMT holder, and the development team behind the game for over two years, the happiest of all. Aside from the emotional satisfaction, we'd also significantly benefit by inflating the perceived value of our corporate assets.

Yet, we deliberately chose not to artificially set a high FDV.

This recent high-FDV practice has indeed made airdrop farmers and project teams happy, but it is also a key reason why Web3 gaming is quietly dying. Our goal with IR2 wasn't simply to launch and cash out as fast as we can; rather, we have a long-term vision for continuing to build Web3 gaming experiences.

Several years ago, launching with an organic FDV was standard practice in Web3 gaming. It was accepted that initial prices would be modest, naturally growing over time as the post-TGE community expanded and the project's value became apparent. Initial holders typically became long-term supporters, facilitating a healthy transition to future community members.

High FDV launches, conversely, are a relatively new phenomenon.

Listing tokens on centralized exchanges (CEXs) on TGE Day 1 is also recent. Starting with low circulation and intentionally inflated initial prices created substantial viral attention. While beneficial short-term for teams, this practice consistently turns Day 1 buyers into losers (observe the pattern from nearly every Web3 game launched over the past year).

If users want to cash out tokens, someone else needs to buy those tokens with cash. Without buyers, sellers can’t sell.

Bluntly speaking, high FDV token launches are structured so that project teams and early contributors effectively scam Day 1 buyers. Initially, it seemed to work, but the trend is weakening. Buyers are not idiots, and traders increasingly short these tokens upon launch. It's understandable why fewer buyers trust Day 1 token launches nowadays.

All recent web3 game launches have the same price moving like this. 

Eventually, the token price will find its natural equilibrium, no matter what initial tactics are employed. Those most harmed by artificial manipulation are community members committed to the project's long-term vision.

This message might not resonate with those who are planning to sell and exit the first week of TGE. But Planetarium Labs and I are committed to supporting this community and delivering engaging content for years to come. Ideally, we'd embrace everyone, but if choices must be made, prioritizing long-term holders and stakers is healthier.

Creating a trading environment where buyers feel they are purchasing tokens at reasonable prices is ultimately far more beneficial in the long run.

Nine Chronicles (Another planetarium project) launched in 2020 at a $9M FDV. It traded at around $6M for some time with ~200 daily active users. We started from a super small community. And eventually gained significant attention due to continuous product growth and a reasonable token price. This attention, matched with favourable market conditions, ultimately drove the FDV to $4B. A milestone achieved about a year after the first presale.

Immortal Rising 2 launched last September, the SBT season began four months ago with over 100k+ active users, and the token itself has been live for just 4 days. For the post TGE revenue side, needless to say that IR2 is a lot bigger than what Nine Chronicles and the other games achieved at. (As many people know, most of web3 game’s post TGE revenue is literally dead).


Planetarium Labs hasn't sold a single IMT since its launch for sure. (You can see 100% of our reserve was locked on smart contract) If the revenue continues, we don’t need to sell to cover dev cost. That is the most different point with the other games.

As a team, we're not overly worried about the current price. We've been in this space for over 5 years and understand that token prices don't always reflect fundamental value, especially in the early stages of a launch. Regardless of short-term price action, IR2 continues to generate revenue even after snapshots and TGE, and we're fully committed to the consistent development of the game.

I sincerely appreciate everyone who has declared their support and staked their tokens, sharing our long-term vision. Here are some tweets I'd encourage everyone to check out:

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And so many more….
IR2 will ultimately reward IMT holders.

 
 

We are in the endgame now.

 
 
 

- FOLLOW US ON X AND JOIN OUR DISCORD TO BECOME AN IMMORTAL -

Publishing Planetarium
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