Following the launch of Immortal Rising 2's IMT token on March 28th, its market price has dropped 53% from its initial value. While some investors have voiced concern, JC Kim, CEO of Planetarium Labs, the studio behind the game, has responded by outlining the company's long-term vision and commitment to sustainable web3 gaming practices.
CEO of Immortal Rising 2 Addresses IMT Token Launch
About Immortal Rising 2
Immortal Rising 2 uses Immutable's blockchain technology to introduce new mechanics that enhance player engagement and asset ownership in the idle RPG genre. The web3 infrastructure powers in-game economies where players have verifiable ownership of digital assets. This fits into the broader blockchain gaming trend, where decentralized technology increases transparency, security, and player-driven ecosystems.
The game combines dark fantasy storytelling with blockchain functionality, letting users participate in a more interactive and rewarding experience. The web3 mechanics differentiate Immortal Rising 2 from traditional mobile RPGs while appealing to both gamers and blockchain enthusiasts. The team recently raised $3 million in funding from The Spartan Group, Planetarium, MARBLEX, Immutable, comma3vc, notchvc, 32BitVentures, SovrunOfficial, kiddoq, and nielsderuiterx.
Immortal Rising 2 Raises $3 Million
Planetarium Labs Avoids High FDV Launch Strategy
Kim explained that Planetarium Labs intentionally avoided launching IMT with a high Fully Diluted Valuation (FDV), a practice that has become increasingly common in web3 gaming. High FDV launches are often structured to create inflated token prices on the first day of trading by coordinating with exchanges and market makers. While this can generate short-term excitement and financial gains for early sellers, Kim argued that it ultimately damages long-term community trust and sustainability.
Planetarium Labs opted for a more organic token launch instead of pursuing an artificially high valuation. This approach aligns with how web3 games were traditionally introduced in previous years. Earlier web3 gaming projects typically started with modest initial token prices that gradually grew as the community and the game itself developed. The trend of launching with high FDV and immediate exchange listings has led to patterns where Day 1 buyers often incur losses as prices correct downward.
Immortal Rising 2 Core Currency
Challenges in Web3 Gaming and IMT's Token Strategy
Kim pointed out that nearly all recent blockchain gaming token launches have followed a similar price trajectory: initial hype leading to inflated prices followed by significant declines. He emphasized that token prices eventually stabilize at a level determined by actual market demand and project fundamentals, regardless of launch strategies. He also warned that artificially high valuations primarily benefit project teams and early investors at the expense of retail buyers, a practice that has contributed to waning trust in web3 gaming tokens.
Kim acknowledged that this message might not resonate with those looking for short-term gains, but he reaffirmed that Planetarium Labs is committed to the long-term development of Immortal Rising 2. The goal is to foster a trading environment where buyers feel they are purchasing tokens at reasonable prices rather than entering a market driven by speculation and unsustainable valuations.
CEO of Immortal Rising 2 Addresses IMT Token Launch
Comparison to Nine Chronicles and Future Outlook
To illustrate the potential of a long-term approach, Kim referenced Nine Chronicles, another game developed by Planetarium Labs. Nine Chronicles launched in 2020 with a $9 million FDV and initially traded around $6 million while maintaining a small but active player base. Over time, as the game's product and community grew, its fully diluted valuation reached $4 billion within a year. Kim suggested that Immortal Rising 2, which launched last September and has already built a large active user base, has the potential for similar growth.
Planetarium Labs has not sold any IMT tokens since launch. The company's entire reserve remains locked in a smart contract, and revenue generated from the game continues to sustain development costs. Unlike many other web3 games that struggle to generate revenue post-TGE, Immortal Rising 2 has maintained financial momentum beyond its initial token distribution.
CEO of Immortal Rising 2 Addresses IMT Token Launch
Commitment to Long-Term Development
Despite short-term market fluctuations, Kim expressed confidence in the project's future. Planetarium Labs has been active in the blockchain gaming space for over five years and understands that early-stage token prices do not always reflect a project's true value. As the game continues to develop and expand, the studio remains focused on delivering engaging content and fostering a stable, long-term ecosystem for its players and investors.
Kim concluded by thanking supporters who have staked their tokens and aligned with the studio's long-term vision. While market conditions may remain volatile, Planetarium Labs is committed to building a sustainable web3 gaming experience rather than prioritizing short-term financial gains. As Immortal Rising 2 progresses, the company aims to demonstrate that long-term commitment and organic growth can lead to a more stable and trusted web3 gaming ecosystem.
