Does the Pi coin crypto have any value?

Pi Coin, one of the most highly anticipated crypto projects, is preparing for its mainnet launch, which is expected to take place in December 2024 or the first quarter of 2025.

The Pi Network is transitioning to the Open Network, allowing users, known as pioneers, to convert their Pi tokens into fiat currencies. As part of this shift, the developers are focusing on two main goals: first, conducting Know Your Customer (KYC) verification for millions of pioneers to eliminate bots; and second, expanding the network of validators to speed up the process. Validators are rewarded in Pi coin, which they can later convert into fiat.

The Pi team has encouraged more pioneers to complete their KYC verification and become validators to help with the transition and reduce wait times.

In addition to KYC verification, Pi Network is focused on increasing the number of decentralized applications (dApps) on its platform. The goal is to ensure that Pi Coin will have real-world utility when it becomes a publicly traded coin. Developers have stated that at least 100 unique applications addressing real-world problems will be necessary, emphasizing that these apps should not be simple clones of existing platforms.

Furthermore, Pi Network plans to transition to the Open Network only when external conditions are favorable. They are hoping for a bull market in the crypto industry to support Pi Coin’s performance. Other factors, such as global conflicts, pandemics, and regulatory changes, may also impact the timing of the mainnet launch.

Pi coin crypto and other tap-to-earn tokens

A common question surrounding Pi Coin is whether it has any value. As of now, the token does not hold any market value because it remains in an enclosed mainnet since December 2021. In this state, Pi coins cannot be transferred outside the network. The coin’s value will only be realized once it transitions to the Open Network, expected sometime in late 2024 or 2025. However, the exact launch price and its fully diluted valuation remain uncertain.

The recent performance of other popular tap-to-earn tokens offers some insight. For instance, tokens like Notcoin have dropped 77% from their peak in May, while Hamster Kombat has fallen by 71%, with other tokens like Pixelverse, Dogs, and Catizen also experiencing sharp declines.

Given that Pi Network was one of the first tap-to-earn networks, there are concerns that its token could similarly face a price drop post-airdrop, as many pioneers may choose to sell their tokens when they become tradable.