When you hear "Ethlas" or see the ticker ELS, itâs easy to assume itâs just another crypto coin trying to ride the Web3 wave. But Ethlas isnât trying to be Bitcoin or even Solana. It was built for one thing: making blockchain games work like regular games-without the headaches.
What Ethlas (ELS) actually does
Ethlas isnât a standalone blockchain. Itâs a gaming ecosystem built on Ethereum. The $ELS token is the glue holding it together. Think of it like a gift card you can use across multiple games, buy skins with, vote on new features, or even pay developers to bring their games onto the platform. It launched in June 2023 after raising $10 million from big names like Sequoia and Dragonfly Capital. At the time, it promised something rare: a single token that works in every game on its platform. No more juggling five different tokens just to play three games. Thatâs the core idea. The games under Ethlas include PokPok, Battle Showdown, and Komo Valley. Each one lets you earn $ELS by playing. You can spend it on upgrades, enter premium matches, or trade it in the Ethlas Portal marketplace. The real standout feature? ReadyNFT. This tool lets you turn any NFT you own-even from other blockchains-into a playable avatar in Battle Showdown. Thatâs a big deal. Most Web3 games lock your NFTs inside their own ecosystem. Ethlas tried to break that.How the $ELS token works
The total supply of $ELS is fixed at 350 million tokens. Thatâs set in stone on the Ethereum blockchain. No more will be created. The contract address is 0xeb575c45004bd7b61c6a8d3446a62a05a6ce18d8. You can verify it yourself on Etherscan. Hereâs how itâs used:- In-game currency: Buy power-ups, enter tournaments, unlock characters in PokPok or Battle Showdown.
- Platform access: Pay 10 $ELS to buy something in the Ethlas Marketplace. Need to enter a ranked match in Battle Showdown? Thatâs 50 $ELS.
- Developer payments: Game studios use Ethlas Web3 Services (EWS) to plug their games into the ecosystem. Basic access costs 1,000 $ELS. Premium features? 10,000 $ELS.
- Staking rewards: Hold $ELS to unlock tiered membership perks like early access to new games or exclusive NFT drops.
- Future governance: The plan is to turn Ethlas into a DAO. That means $ELS holders will vote on everything-from game updates to treasury spending.
Price history: From hype to collapse
When Ethlas launched, it had momentum. The presale sold out across three platforms. The initial public price was $0.30. By the end of June 2023, it hit an all-time high of $0.9983. Thatâs over three times the launch price. Early buyers saw quick profits. But then it crashed. As of January 2026, $ELS trades around $0.0011. Thatâs a 99.88% drop from its peak. Itâs also down 99.6% from its $0.30 presale price. For context: if you bought $1,000 worth of $ELS at launch, itâs now worth about $4. Trading volume is tiny. Binance shows around $120 traded daily. CoinGecko says $162. Compare that to Axie Infinityâs AXS token, which trades over $100 million a day. Ethlas isnât just struggling-itâs barely alive in market terms.
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