Does the Pi coin crypto have any value?

Pi coin, one of the most anticipated crypto projects, is preparing for a mainnet launch, likely in December 2024 or the first quarter of 2025.

Pi developers are working to transition the network to the Open Network, which will allow pioneers to convert their tokens into fiat currencies.

As part of this transition, they are focusing on two key aspects. First, they are running Know Your Customer verification for millions of leads and hope this process will eliminate bots.

There are signs that more pioneers or Pi miners are joining the network to complete the verification process. In a statement made on October 16, developers requested more validators to join the network and reduce the waiting time. These validators are rewarded with Pi coins, which they can eventually convert into fiat currencies.

As Grace Period deadlines approach, more KYC Verifiers are needed to meet recent incoming KYC requests, help reduce wait times for Pioneers awaiting verification, and increase the efficiency of the KYC process for the network to achieve its Open Network goals. …

— Pi Network (@PiCoreTeam) October 15, 2024

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

The aim is to ensure that the Pi cryptocurrency has sufficient utility when it becomes a public currency. According to developers, they will need at least 100 applications that solve real-world problems. Apps should also be unique and not just copies of existing platforms.

Additionally, the Pi Network will only switch to Open Network if external factors are favourable. They hope that a bull market in the crypto industry will increase the coin’s chances of performing well. Other external factors, such as wars, epidemics, and new regulatory issues, can also affect mainnet launches.

Pi coin crypto and other tapping tokens

A common question is whether Pi coin has any value. For now, the token has no value as it remains on the closed mainnet where it has been since December 2021.

Once a coin is on a closed mainnet, it cannot be transferred to people outside the network. The coin will only gain value when it moves to the Open Web later this year or in 2025. It remains unclear at what price the token will begin trading or what its fully diluted valuation will be at launch.

However, judging by the recent performance of popular tap-to-win tokens. Notcoin (NOT) token is down over 77% from its May high, while Hamster Kombat (HMSTR) is down 71%. Other tokens such as Pixelverse, Dogs, and Catizen also experienced declines.

Since Pi Network is the original win-win network, the chances of its token dropping after the airdrop increase as many pioneers can sell their tokens.