‘Off the Grid’ GUN Token Expanding From Avalanche to Solana—Here’s Why

Off the Grid’s GUN token is about to broaden to Solana on Thursday after initially being launched solely on Avalanche, which powers the battle royale shooter’s devoted L1 community, GUNZ. A Solana-themed pores and skin pack has additionally been launched for the sport, marking the ecosystem growth.

The transfer is essentially motivated by decreasing the barrier for entry for customers to purchase the GUN token, in addition to a part of what an official X publish referred to as the mission’s “multi-chain ethos”—suggesting that different chains may very well be on the roadmap for GUN, as effectively.

“That is consistent with our purpose to make the GUNZ market and its objects, in addition to any video games inside the GUNZ ecosystem, accessible to anybody—on any chain,” Gunzilla Video games Director of Web3 Theodore Agranat instructed Decrypt.

When pressed on whether or not the Solana model of GUN will be capable to be used on the Off the Grid market on launch day, Agranat mentioned, “Perhaps.” In response to Decrypt’s questioning of which chain GUN might broaden to subsequent, he didn’t reply straight, however mentioned Decrypt was “asking the best questions.”

Following the information, the GUN token prolonged its every day losses, with an 11% dive over the past 24 hours to a present value beneath $0.036, per information from CoinGecko.

“We wish to be one of the best place so that you can launch a token, and for you to have the ability to notice: OK, I can join with customers who consider in my product, have conviction in it, and this market can resolve to the correct value for my token,” Jerry Li, enterprise growth worker on the Solana Basis, mentioned on an X Areas.

“Off the Grid is a superb instance of that, proper?” He added, “It is a mission that’s thriving on the Web2 facet, and we wish to be sure that the identical image is translated into its Web3 efficiency.”

The GUN token is at the moment the 73rd largest gaming token by market cap, based on CoinGecko. However given Off the Grid’s personal excessive profile amongst crypto video games and profitable launch to Web2 gamers, the token’s March launch wasn’t met with a flurry of demand. Now it’s down 69% from its peak value.

In the meantime, Off the Grid’s market has continued to see rising gross sales, because it processed $666,600 value of quantity over the previous 30 days, based on DegenRadar. As a part of this rising crypto-economy tied to the sport, huge in-game pores and skin gross sales have began to roll in. This consists of the Tacoma Pioneer, which offered for $5,499 on Monday.

That’s why the GUN token’s substantial drop from its all-time excessive mark has been complicated for some traders, as a result of the sport’s participant base doesn’t seem like dropping curiosity. Merchants hope that the growth to Solana will enhance the token’s valuation, even when the preliminary value motion following the announcement hasn’t proven that.

“I believe the principal impact this transfer can have is accessibility to newer traders and decreasing the barrier for entry, versus having to find out about a brand new chain in an effort to purchase,” pseudonymous Off the Grid NFT pores and skin collector Cash Magician instructed Decrypt. “Maybe not an prompt impact, however it shall be a constructive driver for [GUN’s price].”

It is vital to notice that present GUN tokens will stay on the GUNZ Avalanche L1, though there shall be an choice to bridge these belongings to Solana if the person needs. In the end, there shall be no Solana-related adjustments to the GUNZ community, pockets, or the sport itself.

Pores and skin merchants instructed Decrypt that the addition of Solana help for GUN most likely received’t transfer the needle a lot for the ecosystem. As an alternative, what they’re ready for is the flexibility for in-game skins to be tradable on OpenSea. The OpenSea integration was pinned by Gunzilla for someday this month.

“That is when actual cash will movement out and in of the skins financial system,” Cash Magician completed.