Pirate Nation's $PIRATE token has officially launched, trading at $0.16 with a market capitalization of $25 million and a fully diluted valuation (FDV) of $163 million. The token has been listed on Coinbase, where it saw a 60% increase in value within the first hour of trading. Currently, 93 million $PIRATE tokens have been claimed by 17,400 wallets, with 61% of these tokens staked. Pirate Nation, an on-chain role-playing game supported by a16z, emphasizes a fully on-chain RPG experience. The token joins other gaming tokens like $PIXELS and $BIGTIME in achieving significant market caps. The $PIRATE token reached $200 million FDV and saw its NFTs drop 23% to 0.75 ETH this morning. It is available on Coinbase iOS & Android apps and joins the rare club of Day 1 listings.