Cambria’s RSGP token went live on Base on 29th October, and its first 24 hours have been what you’d expect.
RSGP is currently trading at $0.0019, down 74% from its opening price of $0.0068, although up from an overnight low of $0.0015. Over the first day, 4,504 wallets sold against 835 buying, on $1.36 million in volume. At current prices, the 5 billion supply gives a fully diluted valuation of around $9.3 million.
Selling was expected. Around 25% of the total supply circulated from day one, fully unlocked, including a 15% Genesis airdrop sent directly to wallets. Many recipients say they qualified through Hyperliquid and Polymarket activity rather than play, typically receiving tokens worth $7 to $13.
Cambria’s founder Ben.ZZZ, who posts as cyberpunk, said in a thread before launch that this was deliberate, commenting that the project has “a lot of airdrop overhang from 2 years of points programs”, mostly earned in better markets, and vesting would have created “almost insurmountable sell pressure later on”.
He wanted RSGP “as close as possible to what our real market FDV is”. Cambria also skipped a centralized exchange listing, planning “earned” listings later, though MEXC listed the token regardless.
He describes RSGP as the asset that owns Cambria’s economy and treasury, comparing it to Axie Infinity’s AXS. A share of game revenue goes to buybacks and rewards for holders. He puts revenue from the Dungeon Fishing game at around $1 million a year.
The launch did bring life to Cambria’s Charter NFTs, the 4,096 founding licenses needed to play Genesis fully. Charters traded 168 times on launch day for 8.5 ETH of total volume (about $18,800), according to OpenSea. That was almost half the week’s volume. But the floor price has slipped to 0.039 ETH, about $87, down from around $155 earlier in October.
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