My Pixel Costs More Than Your House!

posted on October 05, 2018

My pixel costs more than your house. Hard to believe this, but this could very soon become a reality with the development of the new EOS-based communal project called Pixel Master. If you've never heard of it before, prepare to get awed. And just so that the title of this article does not sound like click-bait and/or fake news, check this out: 4,484 EOS is the price you'll need to pay to acquire the centerpiece pixel on Pixel Master canvas right now. At today's EOS price of $5.73 it is the equivalent of $25,693. You can buy a small bungalow with this money in some parts of the world. And mind you, this game is only a few weeks old!

What is Pixel Master

Pixel Master, or PM for short, is a dApp that's run on the EOS blockchain. PM is a form of a digital graffiti, similar to Reddit's Place,  Million Dollar Homepage and EOS Wall. It is a public canvas of 1000 x 1000 pixels in area where users can buy pixels to draw anything they please. Some people attempt to draw actual art, others just buy pixels for the sake of the experience, while yet others purchase pixels as a form of an investment. 

Pixel Master, in and of itself, a simple idea. There are two factors that make it stand out from the crowd of other similar projects. First one being the EOS blockchain that serves as a quick, seamless and free medium for the community collaboration. In that Pixel Master is similar to EOS Wall. What makes PM truly unique however, is a set of very carefully thought-out game theory rules that make the project highly addictive, mega competitive and ultra viral. 

Rules

You can start buying pixels at 0.05 EOS. If you can't find any "genesis pixels", or the original pixels that have not been previously bought, you can repurchase them from the current owners. There is a 35% mark-up to do that. When a pixel is repurchased the current owner receives 100% of his/her cost plus 75% of the 35% mark-up, or 26.25% profit. So just by buying and reselling your pixels, you can make some money. There are however other ways to make even more money. Here are the official rules. Take a minute to peruse them. 

One ingenious feature that possibly keeps the entire enterprise going by adding more and more fuel to the fire is the Last Pixel Pot. it motivates users to continue their participation even if the virality of the project slows down because it promises to pay the entire Last Pixel Pot to that last purchaser. Theoretically speaking, it makes sense for the players to continue purchasing pixels until to do so becomes prohibitively expensive so much so that the cost of buying one last pixel > than the Last Pixel Pot.  At the time of writing, this pot was worth 21,402 EOS or over $122,000! 

That being said, there are some changes that have been proposed by the dev team that may amend the current rules quite substantially and change players' tactics completely. 

As of today, these were the Pixel Master stats:

- Total pixels drawn: 2,559,298

- Total canvas value: 151,791 EOS =  $870K!!!

Website has a cool feature called "Heat Map" that is showing which of the pixels have experienced the highest demand, and therefore, highest price increase. Players can use this heat map to determine which portion of the canvas to use for their creativity, or investment:

Tactics

Players attempt to use various tactics in order to keep their creation on canvas without it being destroyed (or overwritten) by other players. There are also some tactics available for those participants who would like to sell their pixels. Here are some of the tactics that I have spotted: 

Direct request to sell

Appeal to intimidation, physical imperfections and racial profiling: 😀

Appeal to patriotism: 

Community Reaction

Community reaction has been nothing but positive. Despite project's nascent age (it was launched on Sep 23rd), it was able to rise through the ranks of other dApps and become one of the most popular projects in the EOS ecosystem. 

In fact, it caught attention of Dan Larimer himself who had commented time and again about the project and even proposed some alternative uses:

Copycat projects

As is always the case with highly successful projects/products, there immediately appeared numerous knockoffs and copycats that exploit most of the basics behind the original project but only make insignificant changes to the original. In fact, this idea of being unsatisfied with the original, making some changes to the concept and launching a completely new project should be very familiar to the blockchain community. It's basically the definition of a hard fork. So it's ironic that the project launched on a blockchain is being forked by other clones. Nevertheless, there are at least 2 more copycat dApps that currently show up on DAppRadar

Why is this important for the community

Pixel Master is an important project for the EOS community. It serves a proof of concept that the EOS blockchain is fully operational, fee-less and can sustain high TX volume. It also demonstrates how vibrant and creative the community and how involved the founders can be if they become enthused by the project. Finally, and possibly most importantly it proves that an EOS  dApp can be a highly profitable enterprise. 

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