Back in September 2021, thousands of crypto users rushed to claim free ELMON tokens through a short-lived airdrop tied to CoinMarketCap. It wasn’t just another token giveaway - it was one of the early pushes by Elemon, a blockchain gaming project trying to break into the crowded GameFi space. Today, that same token trades for less than a penny. What happened? And should you still care about ELMON?

The Airdrop Was Real - But It’s Long Over

The Elemon x CoinMarketCap airdrop ran for exactly five days: September 24 to September 28, 2021. That’s it. No extensions. No second chances. If you didn’t sign up during that window, you missed it. No exceptions.

Participation was simple: users had to connect their crypto wallets to CoinMarketCap’s airdrop portal and complete a few basic tasks - like following Elemon on Twitter, joining their Discord, and verifying their email. No KYC. No deposit. No fee. It was designed to be easy, which is why over 37,000 wallets ended up holding ELMON tokens after the campaign ended.

But here’s the thing: the airdrop wasn’t about giving away value. It was about giving away access. Elemon wanted users to try their idle RPG game, where you collect digital monsters (NFTs) and earn tokens just by having them sit in your wallet. Think of it like a digital pet that pays you in crypto - no grinding, no daily logins, just passive play-to-earn.

What Is ELMON, Really?

ELMON is the native token of Elemon, a blockchain-based gaming platform built around the concept of Elematris - a fictional world of mystical creatures. The idea was simple: turn NFT monsters into income-generating assets. You didn’t need to be a hardcore gamer. You just needed to own a monster NFT, and the game would automatically generate ELMON tokens over time.

The project leaned hard into the "idle" gaming trend. While other blockchain games like Axie Infinity demanded hours of daily play, Elemon promised returns with zero effort. That’s what made it appealing in 2021 - when crypto was booming and people were looking for "set it and forget it" crypto income.

ELMON was built on the Binance Smart Chain (BSC), which meant low transaction fees and fast confirmations. That helped keep costs down for users who wanted to trade their monsters or claim rewards. The total supply? 2 billion ELMON. The circulating supply today? Around 645 million. That’s about a third of the total - meaning most tokens were either locked, reserved for team or future releases, or sitting in wallets that never moved.

Where Is ELMON Today?

Let’s cut to the chase: ELMON is practically dead in the water.

As of November 2025, ELMON trades at around $0.00071 on CoinMarketCap. That’s down over 99.9% from its all-time high of $3.32 in late 2021. On Binance, it’s even lower - $0.000677. Neither platform shows any 24-hour trading volume. Zero. Nada. That’s not a glitch. It means no one is buying or selling ELMON right now.

Market cap? Around $440,000. That’s less than what some small DeFi projects spend on Twitter ads in a week. For comparison, Axie Infinity’s AXS token has a market cap over $200 million. Even obscure tokens with no real use case have more trading activity than ELMON.

Why? Because the game stopped working. Or at least, stopped growing. No new NFT drops. No updates. No marketing. The Elemon website still loads, but the last major update was in 2022. The Discord server is quiet. The Twitter account hasn’t posted meaningful content in over two years. The community that once celebrated the airdrop has vanished.

Why Did It Fail?

Elemon made the same mistake as dozens of other GameFi projects in 2021: they focused on hype, not sustainability.

They promised financial returns without building real gameplay. Owning a monster NFT that earns tokens sounds great - until you realize there’s nothing to do with those tokens. No marketplace to sell monsters. No staking. No upgrades. No events. No reason to keep playing.

Also, the tokenomics were flawed. With 2 billion tokens total and a small circulating supply, early holders had massive potential upside. But when the airdrop ended and the hype faded, those same holders had no incentive to hold. They cashed out - and since no one else was buying, the price collapsed.

And let’s not forget: CoinMarketCap doesn’t endorse projects. It just lists them. The airdrop was a marketing partnership, not a stamp of approval. Many users thought the listing meant ELMON was safe or legitimate. It wasn’t.

Should You Still Try to Get ELMON?

No.

There’s no active airdrop. There’s no new token sale. And there’s no reason to buy ELMON now. The token has no utility. The game is inactive. The team is silent. Even if you bought it at today’s price, you’d be gambling on a dead project.

Some people still hold ELMON - mostly those who got it in the 2021 airdrop and forgot about it. A few might be hoping for a revival. But there’s zero evidence of one. No code updates. No team announcements. No partnerships. Nothing.

If you’re looking for passive crypto income through gaming, there are better options. Projects like Pixels, Gala, or even older ones like Thetan Arena have active communities and ongoing development. ELMON is a relic.

What Can You Learn From This?

The Elemon airdrop is a textbook case of how not to build a long-term crypto project.

First, airdrops are great for getting attention - but they’re useless if you don’t have a real product. You can’t just hand out tokens and expect people to stick around.

Second, GameFi isn’t about passive income. It’s about fun. If the game isn’t engaging, no amount of token rewards will keep players. People don’t play for money. They play because it’s fun. Money is just a bonus.

Third, don’t trust airdrops just because they’re on CoinMarketCap. The platform lists hundreds of tokens with zero trading volume. It’s a directory, not a recommendation engine.

Finally, if a project’s trading volume drops to zero, walk away. It’s not "waiting for a rebound." It’s dead.

Final Thoughts

The Elemon x CoinMarketCap airdrop was a flash in the pan. It gave thousands of people free tokens - and then vanished into obscurity. Today, ELMON is a ghost. A cautionary tale. A reminder that in crypto, hype doesn’t last. Only real utility does.

If you got ELMON in 2021, you still have it. But don’t expect it to ever recover. If you didn’t get it, don’t chase it. There are better places to put your time - and your money.