Bigcoin pivots to NFTs as BIG token rebounds from 93% plunge

Bigcoin, the Abstract-based crypto “mining” game, is showing early signs of a potential resurgence after a dramatic downturn earlier this year. The platform had seen a sharp rise in April, reaching a cumulative user count of nearly 70,000, according to internal dashboards [1]. Players were required to purchase virtual rooms and spend the native token, BIG, to add passive mining rigs—ranging from pixelated computers and GPUs to whimsical characters like Pudgy Penguins. These rigs generated more BIG over time, creating a loop of token accumulation and expansion.

However, the initial excitement did not last. By June, daily new user additions had fallen to below 40, and the price of BIG had dropped 93% from its April 11 all-time high [1]. The rapid collapse raised concerns about the sustainability of the model, with some observers suggesting the structure resembled a Ponzi scheme, where early adopters benefited at the expense of later users.

The narrative shifted in July, when the project’s anonymous founder, “Bigtoshi,” announced his departure and transferred control to a small group of community members. One of the key contributors in this new phase is BoredElon, a crypto entrepreneur and former game developer who has previously launched projects such as BoredBox and Edison. BoredElon, who describes himself as a Bigcoin whale, is working alongside a trader known as EJR and a few others to restructure the game’s framework.

Under the new leadership, the team has transformed the mining rigs into over 29,000 Abstract NFTs listed on OpenSea, generating royalties that can fund further development. This change is intended to help build a sustainable treasury and improve liquidity for the BIG token, reducing slippage for traders [1]. BoredElon acknowledged during a recent livestream that the initial surge in BIG’s price led to unrealistic expectations and subsequent frustration from investors who bought at the top.

Michael Lee, co-inventor of Abstract and a former VP at Activision Blizzard, noted that the community-led approach mirrors the decentralized ethos of Bitcoin, where no single individual holds ultimate control. He compared BoredElon’s role to that of Michael Saylor in Bitcoin, positioning the new team as stewards of a project that could evolve into a more equitable token-launching platform [1]. Lee emphasized that Bigcoin’s long-term success will depend on its ability to grow beyond its founder and become a decentralized project managed by the community.

Despite these efforts, the path to recovery remains uncertain. While over 215 unique wallets have already invested in the new NFTs, it remains to be seen whether this represents genuine confidence or speculative interest. The platform has burned over half of its capped 21 million BIG supply—nearly 16.9 million tokens—to reduce inflationary pressure [1].

As the crypto market continues to consolidate, Bigcoin’s evolution will be closely watched by both investors and critics. If the new model can sustain interest and deliver real value through improved liquidity and community governance, it may yet prove that the project has outgrown its initial hype and crash. Otherwise, it could become another cautionary tale in the volatile world of blockchain-based gaming and tokenomics.

Source: [1] Bigcoin plots comeback after BIG crash (https://blockworks.co/news/bigcoin-plots-comeback-after-big-crash)