Delabs Games
DELABS
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
DELABS (Delabs Games) is a Web3 gaming studio led by an experienced and credible executive team, including former Nexon CEO Joonmo Kwon. The project benefits from substantial venture backing ($12M raised from Hashed, Polygon, and TON Ventures), transparent corporate leadership, and a clean security record with no history of exploits, insolvencies, or regulatory actions. However, the token exhibits severe market distress and fundamental weaknesses. On-chain engineering artifacts for the token contract are sparse with limited verifiable GitHub activity. The token's market presence is exceptionally weak, characterized by a micro-cap valuation ($219K–$414K), near-zero trading volume, conflicting circulating supply figures, and a severe post-launch price decline (trading around 0.02x ICO price). Community engagement remains thin with under 2,000 holders, while governance remains centralized within corporate leadership rather than decentralized token holders. Despite legitimate product development in the Web3 casual gaming sector, poor liquidity and token demand present substantial downside risks.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Delabs Games (DELABS)
DELABS is the native utility token of Delabs Games, a South Korea-based Web3 game development studio founded in 2022. Led by former Nexon CEO Joonmo Kwon and Co-CEO JC Kim, the company develops casual gaming titles including Rumble Racing Star, Space Frontier, and Boxing Star X. Delabs Games has secured $12 million in total funding from investors such as Hashed, TON Ventures, and Polygon. The DELABS token operates on both the BNB Smart Chain and Klaytn (Kaia) networks.
The DELABS token is designed to function as an in-game medium of exchange, facilitate NFT transactions, and support staking across the studio's gaming titles. It features a fixed total supply of 3,000,000,000 tokens, with 45% of the allocation assigned to internal team members, advisors, and investors under linear vesting schedules. Governance for the ecosystem is centralized within the corporate structure and a Foundation Council, rather than being managed through token-holder voting or a decentralized autonomous organization.
The project faces notable market and structural risks. Following its launch, the token suffered a severe price decline, trading at approximately 0.02x its initial offering price alongside low trading volumes, a small holder base of around 1,900 addresses, and a micro-cap valuation between $219,000 and $414,000. Additionally, reported circulating supply metrics have shown discrepancies ranging from 75 million to 750 million tokens. On-chain security verification is limited to a 2025 BugBlow audit of the Boxing Star X GameFi contract rather than the DELABS token contract itself, and public code repositories show minimal verifiable commit and release activity.