Does the Pi coin crypto have any value?

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As a seasoned researcher with a keen interest in the ever-evolving world of cryptocurrencies, I’ve been closely watching Pi Coin’s journey since its inception. With a background that spans from traditional finance to blockchain technology, I must say, the Pi Network’s approach is quite intriguing. The transition to the Open Network, aiming to bring fiat currency convertibility, is an ambitious move that could potentially set it apart from other players in the market.

The highly-anticipated cryptocurrency project known as Pi is preparing for its primary network launch. This significant event may take place as early as December 2024 or the initial three months of 2025.

Developers of Pi are making efforts to shift the network towards the Open Network, enabling Pioneers to exchange their tokens for traditional money (fiat currency).

In the course of this transformation, they’re concentrating on two crucial points. Initially, they are implementing Know Your Customer verifications for numerous pioneers, a procedure aimed at eradicating automated accounts (bots).

It appears that an increasing number of people, referred to as Pi miners, are joining this network to assist with the verification process. On October 16th, developers encouraged additional participants to join the network, aiming to decrease the waiting period. These newcomers are remunerated in Pi coins, which can later be exchanged for traditional currencies such as dollars or euros.

With the Grace Period end dates drawing near, there’s a growing need for additional KYC Validators. This will assist in decreasing the waiting periods for Pioneers whose verifications are pending, and ultimately boost the speed at which the KYC process can run on our network, helping us reach our Open Network objectives more efficiently.

— Pi Network (@PiCoreTeam) October 15, 2024

Second, Pi Network is working to increase the number of decentralized applications on the network.

The goal is to ensure that Pi crypto coin will have adequate utility when it becomes a publicly traded coin. According to the developers, they will need at least 100 applications that solve real-world problems. The apps must also be unique and not mere clones of existing platforms.

Furthermore, Pi Network will transition to an Open Network only when conditions outside the project are advantageous. They are optimistic that a bull market in the cryptocurrency sector will increase the token’s potential success. However, other external factors like geopolitical conflicts, pandemics, or new regulatory challenges may also impact the timing of the mainnet launch.

Pi coin crypto and other tap-to-earn tokens

Is it often asked if the Pi Coin holds any worth? At this moment, the token lacks value because it continues to reside within its exclusive mainnet, a place it’s been since late December of 2021.

As a researcher, I find myself exploring the intricacies of a digital coin confined within a mainnet. Notably, this coin cannot be transferred to individuals residing outside the network’s boundaries. However, an exciting development lies ahead: the coin’s value will significantly increase upon its transition to the Open Network, which could happen as early as this year or as late as 2025.

Nevertheless, considering the latest trends of widely-used click-to-earn tokens, it’s worth noting that the Notcoin (NOT) token has plummeted by more than 77% from its peak in May, while Hamster Kombat (HMSTR) has experienced a similar decline of 71%. Additional tokens such as Pixelverse, Dogs, and Catizen have also shown significant drops.

Given that Pi Network was initially the first network offering the “tap-to-earn” feature, it’s plausible that its token could decrease in value post-airdrop, as early adopters (pioneers) might decide to cash out their tokens.

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2024-10-16 17:44