Is today's Alpha airdrop BSU worth grabbing? An analysis:
Project Background
BSU is a hybrid entertainment platform built on the globally recognized 'Baby Shark' IP, focusing on the connection between Web2 and Web3 ecosystems. As an open-world role-playing game, it allows players to create items, maps, and other content, supports tradable NFTs, and features user-generated content (UGC) capabilities. It is underpinned by the Immutable X (IMX) network, enabling fast and low-cost transactions.
Team and Funding
• Team: Led by senior developers from South Korean gaming giant Nexon, core members have over 10 years of industry experience.
• Funding: Completed seed round financing, valued at 34 million USD, with investors including Animoca Brands, Sui Foundation, GM Ventures, and 8 other renowned institutions, demonstrating a strong backing.
Pre-Market Outlook
Initial circulation of 100 million tokens, with pre-market prices expected to be in the range of 0.20–0.50 USD, corresponding to a circulating market cap of 20 million–50 million USD.
Brief Review
In the short term, the popularity of the well-known IP combined with the endorsement from multiple institutions is likely to attract market attention; however, long-term value will need to focus on the effectiveness of UGC ecosystem implementation and potential pressure from future token unlocks.
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