Full Review of Kevin Token (KEVIN)
Kevin Token is a cryptocurrency project that emerged to poke fun at the disastrous launch of the Pixelmon NFT collection. Basically, Pixelmon was an NFT collection that promised amazing artwork and gameplay. The project delivered something that was the complete opposite, which spawned many memes and meme projects based around those memes.
Anyway, this article will offer a full review of one of the meme tokens that emerged after the launch of Pixelmon.
What is Kevin Token (KEVIN)?
As we mentioned previously, Kevin Token is a memecoin that was launched to poke fun at the Pixelmon NFT collection. KEVIN is an ERC-20 token on the Ethereum blockchain that launched in March 2022.
The token does not really have much of a purpose other than purchasing Kevin NFTs from the Pixelmon collection.
In fact, a whitepaper for the token does not even exist. The developer did write a rather humorous backstory for Kevin (the NFT art from Pixelmon) on the website.
That still does not cover the fact that the token does not actually do anything.
However, the lack of utility of KEVIN was not too big of an issue. The token had plenty of free publicity from all the attention that Pixelmon was receiving.
This attention helped buoy the price of KEVIN for a few days.
Unfortunately, the price of KEVIN slowly collapsed as the attention surrounding Pixelmon, and the memes surrounding it, faded from the public consciousness. KEVIN did not have anything other than this attention going for it, so the token has become more or less worthless.
Is Kevin Token (KEVIN) a Scam?
No, it does not appear that Kevin Token (KEVIN) is a scam. The project did not have a pre-sale, pre-mine, or any team allocation. 100% of the tokens were launched to the community at the time of launch, which is a good sign that the project did not have any scammy intentions at the time of launch.
It was a dubious project, though. The stated purpose was to purchase Kevin NFTs from Pixelmon, which is a very short term goal.
To summarize, the project isn’t a scam. It just had no long term future.
Is Kevin Token (KEVIN) a Good Investment?
No, Kevin Token is not a good investment. Our main problem with the token is that it is based on a very short-term meme.
In a few months no one will even remember Pixelmon and the memes surrounding it will be a distant memory.
Projects like Kevin Token are very short term projects that capture some attention for a few days before quickly becoming irrelevant. KEVIN had a 24 hour trading volume of a few million at the time of launch and even maintained a six figure 24 hour trading volume for about a week after launch.
The 24 hour trading volume currently stands at $200.
To summarize, KEVIN is a meme coin based off of a short-term meme. This makes KEVIN a short term meme coin. The price action and trading volume of KEVIN has shown that it’s nothing more than a short-term memecoin that has passed its expiration date.
Where to Buy Kevin Token (KEVIN)?
You can purchase Kevin Token on Uniswap on Ethereum. That is the only official place to purchase Kevin Token as far as we know.
Are Short Term Memecoins Worth Investing In?
Short term memecoins are not worthy investments in our opinion. They simply do not have the staying power necessary to maintain a steady price in the long-term.
The typical trajectory of these short-term memecoins is that the price sharply rises after the launch while the meme is still fresh and popular on Twitter. Once the popularity of the meme subsides, then the price of the memecoin collapses and never really recovers.
It is possible to build a successful memecoin if you can rally a community behind a particular meme. We have seen this with successful memecoins like Shiba Inu and Dogecoin. However, it’s extremely difficult to rally a community behind a short-term meme like Kevin.
The memes that most memecoins rally behind are almost always animal based as animals are universal and have long-term potential.
To summarize, memecoins based off of short-term memes have short-term price increases before fading to zero. They are almost always terrible long-term investments, but you can certainly make decent money if you exit before the price begins to fall.
What is Pixelmon?
It’s difficult to discuss Kevin Token without discussing the NFT collection that triggered the meme that Kevin Token is named after.
In fact, Kevin Token makes next to no sense without an understanding of Pixelmon.
Now, this article is not about Pixelmon, so we will keep this short. Pixelmon is an NFT collection on Ethereum. The collection launched in December 2021, but the revealing of the NFT artwork did not occur until March 6, 2022.
The collection was fairly popular before the artwork was revealed because the artwork in the marketing looked very nice. The project also claimed that it would launch a sort of NFT version of Pokemon on the blockchain.
Unfortunately, the artwork fell very short of the expectations laid out in the marketing material.
The above image is representative of what the NFT images look like. As you can see from that example, the artwork is subpar.
Note: The above image is actually the Kevin NFT that Kevin Token is based around.
The worst part is that the price of the NFT was 3 ETH. This means people paid 3 ETH for an unknown NFT and then received something like the above image.
The developer quickly came out and claimed that the project would revamp the artwork and work on developing the game with the money earned from the sale of the NFTs.
Pixelmon earned a whopping ~$70 million USD in minting fees and royalties, so the developers have plenty of cash to develop a working blockchain game.
We find it highly unlikely that the developers launch a game. It’s far more likely that the developers slowly disappear with their $70 million as they realize that developing a successful blockchain game is actually pretty difficult.
To wrap things up, Kevin Token is a memecoin based on a now irrelevant meme. The price and trading volume of the token has completely collapsed to near 0.
It’s not really a token worth investing in at the moment and it appears to have little to no chance of ever recovering.