Following the launch of Immortal Rising 2’s IMT token on March 28th, its market price has seen a steady decline, dropping by 53% from its initial value. While some investors have expressed concern, JC Kim, CEO of Planetarium Labs, the studio behind the game, has addressed the situation, emphasizing the company’s long-term vision and commitment to sustainable web3 gaming practices.

CEO of Immortal Rising 2 Addresses IMT Token Launch

About Immortal Rising 2

Immortal Rising 2 aims to redefine the idle RPG genre by leveraging Immutable's blockchain technology to introduce new mechanics that enhance player engagement and asset ownership. By utilizing web3 infrastructure, the game intends to offer in-game economies where players can have verifiable ownership of digital assets. This approach aligns with the broader trend of blockchain gaming, where decentralized technology enhances transparency, security, and player-driven ecosystems.

The game seeks to combine immersive dark fantasy storytelling with blockchain functionality, allowing users to participate in a more interactive and rewarding experience. By implementing web3 mechanics, Immortal Rising 2 hopes to differentiate itself from traditional mobile RPGs while appealing to both gamers and blockchain enthusiasts. The team just raised $3 million in funding from The Spartan Group, Planetarium, MARBLEX, Immutable, comma3vc, notchvc, 32BitVentures, SovrunOfficial, kiddoq, and nielsderuiterx.

Immortal Rising 2 Raises $3 Million

Planetarium Labs Avoids High FDV Launch Strategy

In a statement, Kim explained that Planetarium Labs intentionally avoided launching IMT with a high Fully Diluted Valuation (FDV), a practice that has become increasingly common in web3 gaming. High FDV launches are often structured to create inflated token prices on the first day of trading by coordinating with exchanges and market makers. While this can generate short-term excitement and financial gains for early sellers, Kim argued that it ultimately harms long-term community trust and sustainability.

Rather than pursuing an artificially high valuation, Planetarium Labs opted for a more organic token launch. This approach, according to Kim, aligns with how web3 games were traditionally introduced in previous years. He noted that earlier web3 gaming projects typically started with modest initial token prices that gradually grew as the community and the game itself developed. In contrast, the trend of launching with high FDV and immediate exchange listings has led to patterns where Day 1 buyers often incur losses as prices correct downward.

Immortal Rising 2 Core Currency

Challenges in Web3 Gaming and IMT’s Token Strategy

Kim pointed out that nearly all recent blockchain gaming token launches have followed a similar price trajectory, with initial hype leading to inflated prices followed by significant declines. He emphasized that, regardless of launch strategies, token prices eventually stabilize at a level determined by actual market demand and project fundamentals. He also warned that artificially high valuations primarily benefit project teams and early investors at the expense of retail buyers, a practice that has contributed to waning trust in web3 gaming tokens.

The CEO acknowledged that this message might not resonate with those looking for short-term gains, but he reaffirmed that Planetarium Labs is committed to the long-term development of Immortal Rising 2. The goal is to foster a trading environment where buyers feel they are purchasing tokens at reasonable prices rather than entering a market driven by speculation and unsustainable valuations.

CEO of Immortal Rising 2 Addresses IMT Token Launch

Comparison to Nine Chronicles and Future Outlook

To illustrate the potential of a long-term approach, Kim referenced Nine Chronicles, another game developed by Planetarium Labs. Nine Chronicles launched in 2020 with a $9 million FDV and initially traded around $6 million while maintaining a small but active player base. Over time, as the game’s product and community grew, its fully diluted valuation reached $4 billion within a year. Kim suggested that Immortal Rising 2, which launched last September and has already built a large active user base, has the potential for similar growth.

He also reassured the community that Planetarium Labs has not sold any IMT tokens since its launch. The company’s entire reserve remains locked in a smart contract, and revenue generated from the game continues to sustain development costs. Unlike many other web3 games, which struggle to generate revenue post-TGE, Immortal Rising 2 has maintained financial momentum beyond its initial token distribution.

CEO of Immortal Rising 2 Addresses IMT Token Launch

Commitment to Long-Term Development

Despite short-term market fluctuations, Kim expressed confidence in the project’s future. He noted that Planetarium Labs has been active in the blockchain gaming space for over five years and understands that early-stage token prices do not always reflect a project’s true value. As the game continues to develop and expand, the studio remains focused on delivering engaging content and fostering a stable, long-term ecosystem for its players and investors.

Kim concluded by thanking supporters who have staked their tokens and aligned with the studio’s long-term vision. While market conditions may remain volatile, Planetarium Labs is committed to building a sustainable web3 gaming experience rather than prioritizing short-term financial gains. As Immortal Rising 2 progresses, the company aims to demonstrate that long-term commitment and organic growth can lead to a more stable and trusted web3 gaming ecosystem.