Mythical Games completes full NFT migration to new Pulse Market

Launched in 2023 alongside its NFL Rivals mobile game (now just called Rivals), Mythical Market was the foundation for the five titles Mythical Games has launched during the past years.

However, with the migration of the assets of FIFA Rivals on 22th April, all the NFTs from all of Mythical’s games have now made the transition to the new Pulse marketplace. Any MYTH tokens held in accounts will be transfered to the equivalent Pulse account at the rate of 500 MYTH to $1.

Following this transition, Mythical Market will be retired.

No doubt, there are plenty of technical reasons the new marketplace has been developed. But the key one is that all trading on Pulse happens using the USDC stablecoin, whereas trading on Mythical Market used the native MYTH token.

Unfortunately, its value has dropped by 98% over the past year, meaning it only served as a payment method if spent immediately. More significantly, there was no way NFT traders could create long-term strategies as the price of any on-market asset would drop in real terms every day unless its MYTH price was constantly being reissued proportionally higher to compensate for MYTH’s falling dollar value.

Of course, relaunching NFT trading on Pulse doesn’t necessarily fix these issues.

Such assets only have value if a game has an enthusiastic player base, which provides them with both explicit and implicit value.

Nevertheless, putting something on the marketplace for $5 and knowing that if it sells, you’ll receive $5 is a pretty good starting point for such an economy to develop.

This is particularly the case for Mythical Games’ FIFA Rivals, the final title to migrate to Pulse, and which will be the focus of Mythical’s marketing in the coming weeks as the World Cup starts on 11th June.

Source: https://www.blockchaingamer.biz/news/42102/mythical-games-full-nft-migration-pulse-market/