Basic Info
John: Hey everyone, welcome to our chat about Protocol Monster Labs, a GameFi project that caught some attention back in the day. As a veteran in this space, I’ll start by saying it’s essentially a blockchain-based game blending fighting, RPG (role-playing game), and simulation elements. From what I’ve gathered from official sources like their blog, it evolved from Polychain Monsters, rebranding in mid-2024 to focus on Ethereum and its layer-2 networks. The core idea was collecting and battling with cute 3D monsters called Yunipals, all tied into NFTs (non-fungible tokens, unique digital assets on the blockchain). In the past, it aimed to make gaming fun while earning crypto rewards. If you’d also like a simple primer on exchanges, check out this beginner-friendly guide.
Lila: Oh, that sounds adorable! So, John, for someone totally new to GameFi—which is basically gaming combined with finance on the blockchain, right?—what made Protocol Monster Labs stand out initially? And is it still going strong in 2025?
John: Spot on, Lila—GameFi lets players earn real value through gameplay, like tokens or NFTs. Protocol Monster Labs launched with a lot of promise in 2024, migrating their token PMON from BNB Chain to Ethereum for better scalability (handling more users without slowing down). Their official blog from June 2024 announced the rebrand, introducing Yunipals as the collectible brand. Currently, though, based on real-time checks from trusted sources like PitchBook and their site, there haven’t been major updates since then. It seems the project might be on hiatus or inactive now, with no fresh news in 2025 that I could find.
Lila: That’s a bummer if it’s not active anymore. But let’s dive deeper—what was the basic setup? Like, how did players get started?
John: In the past, players could mint (create) NFTs of these monsters, collect them, and engage in battles or simulations. It was pitched as a play-to-earn (P2E) model, where your in-game actions earned you tokens. The project’s website, last updated in 2024, emphasized financial risks, reminding folks that NFTs could lose value. Looking ahead, without new developments, it might not be the best entry point for beginners today.
Lila: Got it. So, even if it’s quiet now, understanding its basics can help us learn about GameFi in general. Cool!
Tokenomics / Supply model
John: Moving on to tokenomics—that’s the economic design of the project’s cryptocurrency. For Protocol Monster Labs, their token was PMON, which migrated to Ethereum in 2024. From their introductory blog, the supply model involved a total supply that was fixed or managed to prevent inflation (too many tokens flooding the market, dropping value). It was used for staking (locking tokens to earn rewards) and in-game purchases.
Lila: Staking sounds interesting! Like putting your money in a savings account but for crypto? How did the supply work exactly? Was there a cap or something?
John: Exactly, Lila—staking rewards you for holding and supporting the network. PMON had a circulating supply that grew through rewards, but details from their 2024 announcements suggested burns (permanently removing tokens) to control supply. In the past, this helped maintain value. Currently, with the project seemingly inactive—no new token distributions or updates in 2025—the supply model isn’t evolving. PitchBook profiles from earlier years show funding rounds, but nothing recent.
Lila: Hmm, so if it’s inactive, does that mean the tokens are still out there but not being used much? That makes sense for beginners to be cautious.
John: Yes, tokens might still trade on decentralized exchanges (DEXs, peer-to-peer trading platforms), but without project activity, liquidity (ease of buying/selling) could be low. The model was deflationary in design, aiming to reduce supply over time through usage in games.
Lila: Deflationary—meaning fewer tokens over time to potentially increase value? Neat concept, even if the project isn’t buzzing now.
John: Precisely. It was meant to incentivize long-term holding, but without ongoing development, it’s more of a historical example now.
Gameplay mechanics and NFT integration
John: Let’s talk gameplay. Protocol Monster Labs combined fighting (battle modes), RPG (leveling up characters with stories), and simulation (managing virtual worlds or economies). Players collected Yunipals as NFTs, which were unique digital monsters you truly owned on the blockchain.
Lila: Like Pokémon but on blockchain? How did the NFTs fit into the fighting and RPG parts?
John: Very similar! In fighting mechanics, you’d battle other players’ monsters in arenas, using strategies based on attributes like strength or speed. RPG elements involved quests to level up your Yunipals, earning experience points. Simulation came in with breeding or fusing monsters to create new NFTs. All integrated with blockchain for true ownership—sell or trade them anytime.
Lila: Breeding monsters? That sounds fun! So, NFTs weren’t just collectibles; they were part of the game loop?
John: Absolutely. From the 2024 blog, minting new NFTs through gameplay was key, tying into simulation where you managed a collection like a virtual farm. In the past, this made it engaging, but currently, with no updates, the mechanics aren’t being iterated on.
Lila: I see. For simulation fans, it was like running your own monster lab, right? Cool integration!
John: Right, and NFTs ensured interoperability (using assets across games), though that vision didn’t fully materialize here.
Developer team & community engagement
John: The dev team behind Protocol Monster Labs was experienced in NFTs, coming from Polychain Monsters. PitchBook lists them with funding from 2021, indicating a solid start with investors.
Lila: Were they transparent? Like, did they share a lot with the community?
John: In the past, yes—they had blogs and announcements. Community engagement was through Discord or socials, discussing updates. However, based on recent checks, engagement has dropped; no active posts in 2025 from official channels.
Lila: That’s telling. So, for new projects, active devs are key?
John: Definitely. Strong teams build trust. Here, the rebrand was a big engagement push in 2024, but it seems to have faded.
Lila: Makes me appreciate ongoing communication more!
Rewards system & user incentives
John: Rewards were central—earn PMON through battles, quests, or staking. Incentives included daily logins or community events.
Lila: How did that work for beginners? Easy to start earning?
John: Yes, low barriers like free starter NFTs. In the past, it motivated play, but now, with inactivity, rewards aren’t being distributed.
Lila: So, incentives drive retention?
John: Exactly. Good systems balance fun and earnings.
Lila: Learned something new!
Competitor comparison
John: Compared to Axie Infinity (monster battles with earning), Protocol Monster Labs was similar but focused on 3D and Ethereum. Corefire, from X posts, offers Solana-based monster armies with PVP (player vs. player).
Lila: What about differences?
John: Axie has massive scale; this one was smaller, more niche in simulation. Monster Kombat, buzzing on X in 2025, emphasizes fun kombat mechanics.
Lila: So, it had potential but didn’t keep up?
John: Seems so. Competitors like CROSS Protocol are launching big in 2025, per X trends.
Lila: Interesting contrasts!
Risk factors and challenges
John: Risks include market volatility—NFT values can crash. The project’s inactivity is a big challenge now.
Lila: Other risks?
John: Regulatory changes, scams, or tech issues like high gas fees (transaction costs on Ethereum).
Lila: Scary but good to know.
John: Always research thoroughly.
Industry expert insights
John: Experts from Cointelegraph note GameFi’s 2025 revival, but many projects fail, like 93% from last cycle per Ourcryptotalk.
Lila: Insights on this project?
John: It exemplifies how rebrands can hype but need sustained effort. Medium articles highlight resilient projects in Q1 2025.
Lila: Valuable perspectives!
X community buzz & roadmap updates
John: Based on real-time posts and verified news, it seems that Protocol Monster Labs is no longer active. No updates have been made recently, and community activity has dropped significantly. X buzz is absent for this project in 2025; instead, posts highlight alternatives like Corefire or Monster Kombat.
Lila: No roadmap news?
John: The last roadmap was in 2024’s rebrand—no 2025 updates found.
Lila: Disappointing, but honest info helps.
John: Indeed. Trends show GameFi rebounding, but this one missed it.
FAQ
John: Let’s answer common questions.
Lila: What is Protocol Monster Labs?
John: A former GameFi project with monster collecting and battles.
Lila: Is it still playable?
John: Likely not, due to inactivity.
Lila: How to get involved?
John: Check alternatives; this one’s dormant.
Related links
Final Reflections
John: Reviewing Protocol Monster Labs from gameplay to token design and community feedback gave me a clear view of how GameFi projects can evolve—or vanish. It’s a real-world lesson in Web3. And if you’d like a bit more context on how to choose exchanges, you might also enjoy this global guide.
Lila: Even if Protocol Monster Labs isn’t buzzing now, I learned so much about how Web3 economies are built. I feel more ready to explore other projects now!
Disclaimer: This article is for informational purposes only. Please do your own research (DYOR) before making any financial decisions.