&#039, Off the Grid &#039, GUN Token Sinks Following Game&#039, s Avalanche L1 Launch

The Stick key tied to famous battle royal game Off the Grid launched Monday with the mainnet implementation of the Avalanche L1-based GUNZ gaming network. And ahead of the in-game mainnet inclusion, GUN has continued to fall in value over the course of the time.

GUN is currently priced just above$ 0.76, down over 24 % since launch, per data from CoinGecko. GUN rose as high as$ 0.115 earlier Monday, but has since dipped by nearly 34 % in the hours since touching that peak.

It’s common for just launched tokens to rapidly crest and next lose value as more people get their hands on the cash and start trading them in the market. But the GUNZ release has left some as-yet-unanswered concerns that may also be driving issues around the entire amount of the implementation.

While the GUNZ community has launched its mainnet and the GUN coin is now constantly being traded, Off the Grid—the match on Computers, PlayStation 5, and Xbox—still has yet to make the transition from testnet to mainnet.

Bringing the GUNZ mainnet into Off the Grid may access the ability to trade in-game things as NFTs, which some daring players have preempted via a flourishing black market around the sport ahead of the mainnet implementation.

The show’s update will also allow the use of GUN as a suitable bitcoin gift. It already acts much like an in-game coin, and players ‘ GUN amounts are set to become wiped in the change to mainnet.

Gunzilla Games did not immediately respond to ‘s issues regarding the timeframe for Off the Grid’s mainnet start.

In the GUNZ Discord site earlier Monday, Gunzilla Games Director of Web3 Theodore Agranat told people that the “migration of sport to mainnet may become worked on today”, but did not specify an ETA for the change.

Just over 6 % of the total supply of 10 billion GUN cryptocurrencies is currently in circulation, with much of that circulating provide dedicated to the Binance Launchpool rewards campaign for users of that bitcoin change.

For a small float means that the market cap for GUN sits below$ 47 million as of this writing. However, the fully diluted valuation or FDV for the token stands at roughly$ 760 million, after peaking above$ 1 billion earlier in the day.

GUN is now ranked as the 662nd most important general crypto based on market cover. However, its FDV outranks many of the most valuable gaming tokens with much larger circulating supplies, such as Gala Games ( GALA ), Axie Infinity ( AXS), and Ronin ( RON ).