The Mnet Pioneer project is one of the two game-related projects in the Asia-Pacific region that I managed to find out about after some inquiries in the Polkadot ecosystem.
Today, when I started detailed research, I found that in March 2025, Mnet Pioneer had already said goodbye to the Polkadot ecosystem and migrated to Solana.
However, since I have already conducted research, I will share the results of my investigation and also see why Mnet, after 4 years of incubation and growth in Polkadot, ultimately decided to abandon Polkadot and turn to Solana.
Feeling sorry for Polkadot for three minutes—raising a chicken that lays eggs, and it finally flew away. No wonder Gavin Wood announced the day before yesterday that at the end of August he will return to the Polkadot engineering department, Parity Technologies, to take back the CEO position. After lying flat for three years, if he doesn't return soon, the coffin board will soon not be able to cover it.
🔴Project Introduction
MNet Pioneer is one of the earliest parachains deployed on Polkadot, with Mnet being short for Metaverse Network.
This chain is specifically designed to build incubation and testing environments for various metaverse projects, similar to the engine and toolkit for Web3 metaverses. Teams launching Web3 metaverse projects can use the Mnet chain to quickly build metaverse worlds, utilizing the entire suite of engine tools on the Mnet platform to generate 2D/3D spaces, land economy, virtual meetings, immersive tasks, AI-powered cloud, and other content production and product generation.
There are two super applications on the MNet chain: Bit.Country and Bit.Country Pioneer.
🚩Bit.Country is a tool platform for creating and managing metaverse worlds, also known as Continuum Parachain. Users can create their own spaces, lands, economic systems, and social scenarios on the Bit.Country platform. Bit.Country emphasizes long-term ecological construction and community governance, supporting various NFTs, tasks, voting, and token economic models.
Previously, with the support of MNet/Polkadot, Bit.Country aimed to become the core ecosystem of the Polkadot mainnet. The token for this super application/Continuum parachain project is $NUUM.
🚩Bit.Country Pioneer (later renamed Mnet Pioneer) is an early Kusama chain application of Bit.Country, used to test new features and economic models, also known as Pioneer Parachain. It is aimed at early communities and innovative experiments, often launching new features, new token incentives, and new types of NFTs first. It emphasizes rapid iteration and community participation, allowing users to experience the latest metaverse features and participate in ecological construction through crowd lending, staking, and other methods. The token for this super application/Pioneer parachain is $NEER.
From CoinGecko, I can only find on-chain data for the $Nuum token from these two super applications on the Mnet chain, with a circulating market cap of only 1.73 million USD, and there is no listing record on centralized exchanges.
🔴Introducing Mnet's product structure seems very complicated, overall:
1. Mnet is a public chain built using the underlying technology of Polkadot, compatible with the Ethereum Virtual Machine (EVM) and the Polkadot Virtual Machine (WASM).
2. The Mnet chain has launched two super applications for metaverse developers, one super application using the Polkadot mainnet and the other using the Kusama chain within Polkadot.
3. After a few years of incubation and growth in the Polkadot ecosystem, Mnet has now been picked up by Solana. There is no need to differentiate between the Polkadot mainnet and Polkadot Kusama anymore; migrating to Solana can directly integrate into one APP.
🔴Mnet Team Background
Searched using ChatGPT5, it's a New Zealand team, the first founder Ray Lu, reportedly a Shandong native who immigrated to New Zealand.
🔴Project Experience
Sister Cathy visited Bit.Country, which is a port for Web3 metaverse project teams and not for ordinary retail players and users to play.
If metaverse project parties need to use Bit.Country to develop their projects, they first need to purchase an Activator NFT, with the current floor price on Magic Eden being 416.9 sol, close to 82,000 USD.
As for the 82,000 USD spent to buy an NFT to activate your metaverse project on the Bit.Country platform, it remains to be seen what development functions and conveniences can be utilized; according to Mnet's official Twitter and Bit.Country, there are several categories.
Among them, there is a Telegram mini-program generator, which should have been quite popular last year and this year; I wonder if any TG mini-program developers have used it?
Currently, the only project that has been found using the Bit.Country infrastructure to build a metaverse is:
✅Polkadot Token2049 Exhibition
During the Token2049 cryptocurrency conference, Bit.Country collaborated with Polkadot to create a virtual exhibition hall showcasing projects and technologies of the Polkadot ecosystem.
I went back to check how many NFTs were sold for the Bit.Country metaverse Acticaor on Magic Eden, and found that there are only 8 NFTs in this series, of which 5 are listed.
The entire NFT series has only 2 owners, and the recent NFT selling price is 0.02 sol.
In other words, apart from what the Bit.Country project party holds, only one NFT was sold to the Polkadot foundation to build a virtual exhibition hall for Polkadot at Token2049, sold for 0.02 sol.
What a tragic situation!!
Just as Sister Cathy mentioned in her post at Binance Square today, as a player, I am not optimistic about these newly launched Web3 projects that claim to be metaverse.
It is expected that no project parties are willing to spend money to use and develop metaverse projects on the Web3 metaverse engine/development platform that Mnet has painstakingly built over the years.
The next article will continue to investigate Mnet's growth history in the Polkadot ecosystem and see why they abandoned Polkadot and turned to Solana.