Elemon PriceELMONInactive

What is Elemon (ELMON)?

Elemon (ELMON) is a blockchain-based idle RPG game that merges Non-Fungible Token (NFT) technology with play-to-earn mechanics. Built on Binance Smart Chain (BNB Smart Chain) as a BEP20 token, Elemon invites players into a digital universe inspired by the mysterious and beautiful world of Elematris. Players collect, train, and battle unique digital creatures called Elemons, each possessing various attributes and skills. The game features an idle battle system that allows players to earn rewards even while offline, making it accessible to individuals who cannot commit extensive daily playtime.

The project's mission is to democratize access to blockchain-based gaming, enabling millions of individuals to participate in the NFT and blockchain gaming world in a simple, creative, and enjoyable way. Elemon operates with a total supply of 2,000,000,000 ELMON tokens, with approximately 644.9 million tokens in circulating supply. The project launched in 2021 and has since navigated the evolving GameFi landscape, with future plans to expand into the metaverse while maintaining NFT ownership and DeFi integration within its ecosystem.

Key Specifications & Tokenomics

• Name: Elemon
• Symbol / Ticker: ELMON
• Blockchain / Platform: Binance Smart Chain (BNB Smart Chain)
• Token Standard: BEP20
• Contract Address: 0xE3233fdb23F1c27aB37Bd66A19a1f1762fCf5f3F
• Decimals: 18
• Category: Gaming, Collectibles & NFTs, DeFi, GameFi, IDLE RPG
• Total Supply: 2,000,000,000 ELMON
• Max Supply: 2,000,000,000 ELMON
• Circulating Supply: 644,908,310 ELMON
• Initial Circulation: 129,800,000 ELMON
• Launch Date: 2021-09-06
• CertiK Rating: 3.7
• Official Website: https://elemon.io/
• Whitepaper: https://whitepaper.elemon.io/

Who created Elemon?

The Elemon platform was founded by Ky Canh, who serves as the Chief Marketing Officer (CMO). The co-founding team includes Chung Nguyen as Chief Executive Officer (CEO) and Trang Nguyen as director. The project has attracted backing from eight investors, including Kardia Ventures, X21 Digital, Fomocraft Ventures, DEXT Force Ventures, Avstar Capital, TK Ventures, Basics Capital, and HG Ventures (Das Kapital).

Elemon raised a total of $2.29 million across four completed funding rounds. The seed round was priced at $0.004 with a total raise of $272,000 and a valuation of $8 million. The private round was priced at $0.007, raising $1.83 million at a $14 million valuation. The public round was priced at $0.009, raising $180,000 at an $18 million valuation. These funding rounds demonstrate early investor confidence in the project's vision of combining NFT technology with idle RPG mechanics.

How does Elemon work?

Elemon operates as an idle RPG where players collect, train, and battle NFT-based digital creatures called Elemons. Each Elemon possesses unique attributes and skills, and players can trade, upgrade, and evolve these creatures to optimize their teams for battles, quests, and tournaments. The core innovation lies in the idle battle system, which enables players to earn rewards even while offline, removing the need for constant active participation.

The game is built on Binance Smart Chain, ensuring a secure and efficient environment for transactions and gameplay. Players engage with the ecosystem through various game modes, including battles, quests, and tournaments. The platform also features a marketplace where players can trade their NFT-based Elemons. Additionally, Elemon operated an ELCOIN token alongside ELMON, with the team opening an OTC exchange for ELCOIN on January 24, 2022, and launching an ELMON & ELCOIN swap website portal. The project has announced new tokenomics to meet its long-term goals, reflecting an evolving economic model designed to sustain the ecosystem.

What makes Elemon unique and valuable?

Elemon distinguishes itself through its combination of NFT technology with a new-generation IDLE RPG mechanism. This approach targets a broad audience of gamers who may not have extensive time to spend in games daily but still wish to play and earn. By leveraging idle mechanics, Elemon provides financial benefits without requiring significant time investment, making blockchain gaming more accessible to casual players.

The project's mission to democratize access to blockchain-based gaming positions it as an entry point for individuals new to cryptocurrencies and NFTs. The game offers eye-catching graphics and exciting, realistic experiences while maintaining a simple and enjoyable participation model. Elemon's future plans to expand into the metaverse, while preserving NFT ownership and DeFi integration, signal a commitment to evolving with the broader blockchain gaming industry. The project's CertiK rating of 3.7 provides an additional layer of security assessment for potential users and investors.

What is Elemon used for?

ELMON serves as the native utility token within the Elemon ecosystem. Players use ELMON to participate in various in-game activities, including trading, upgrading, and evolving NFT-based Elemons. The token facilitates transactions within the Elemon Marketplace and supports the broader DeFi integration within the ecosystem. ELMON holders can engage with the game's economic model, which includes battles, quests, and tournaments where rewards are distributed.

The token also plays a role in the project's governance and ecosystem development, with allocations designated for team, marketing, liquidity, advisors, and ecosystem growth. The ELCOIN token operated alongside ELMON, with an OTC exchange and swap portal established to ensure users could store value and transition between tokens. ELMON's utility extends to future metaverse plans, where it will likely serve as a medium of exchange and value storage within the expanded digital universe.

How Is the Elemon ecosystem developing?

The Elemon ecosystem centers on its core product: a blockchain-based idle RPG built around collectible digital creatures. The game supports multiple modes, including battles, quests, and tournaments, with NFT features allowing players to trade, upgrade, and evolve their Elemons. The idle earning system enables offline rewards, broadening accessibility. The Elemon Marketplace facilitates player-to-player trading, while the ELMON & ELCOIN swap portal and OTC exchange, opened in January 2022, provided token transition mechanisms.

Development efforts have focused on new tokenomics to support long-term project goals. The team has outlined future plans to expand into the metaverse, maintaining NFT ownership and DeFi integration. The ecosystem also benefits from community engagement through platforms like Twitter, Facebook, and a dedicated animated series YouTube channel. With 37.51K holders and listings across 26 active markets, the ecosystem continues to maintain a presence in the GameFi sector despite significant market challenges.

How to mine Elemon?

Elemon does not utilize traditional mining mechanisms, as it operates on Binance Smart Chain, which employs a proof-of-stake consensus model. Instead of mining, players earn ELMON and other rewards through gameplay activities such as battles, quests, and tournaments. The idle battle system allows players to accumulate rewards even while offline, providing a passive earning mechanism within the game.

Players can also engage with the ecosystem by trading, upgrading, and evolving their NFT-based Elemons on the marketplace. Staking opportunities may exist within the DeFi integration of the platform, though specific staking mechanisms are not detailed in available materials. The primary method of acquiring ELMON is through gameplay participation and trading on supported markets. The project's tokenomics include ecosystem allocations that vest over time, supporting ongoing rewards distribution.

How to keep your Elemon Coin safe?

Securing ELMON tokens requires adherence to standard cryptocurrency safety practices. Since ELMON is a BEP20 token on Binance Smart Chain, users should store their tokens in wallets that support the BEP20 standard. Hardware wallets provide enhanced security by keeping private keys offline, while reputable software wallets offer convenience for frequent transactions. Users should always verify contract addresses before interacting with any token, ensuring they are transacting with the legitimate ELMON contract at 0xE3233fdb23F1c27aB37Bd66A19a1f1762fCf5f3F.

Practicing good operational security is essential: never share private keys or seed phrases, enable two-factor authentication where available, and be cautious of phishing attempts and fraudulent links. Conducting thorough research before engaging with any platform or smart contract is strongly advised. As with any investment in the crypto space, individuals should consider their financial situation and risk tolerance before engaging with digital currencies or NFTs. The Elemon project's CertiK rating of 3.7 provides some assurance regarding security assessments, but personal vigilance remains the most important safeguard.