What Is Rebel Cars Crypto, and Is $RC a Good Investment?

Published: 8th June, 2024 | Last Updated: 9th June, 2024

Markos Koemtzopoulos

Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

Rebel Cars is a new racing cars game that is built on top of the Elysium blockchain. The cars are NFTs that are tradeable and collectible, and you can place bets on which car will win either as a participant or a spectator. The token that powers the game economy is $RC. In this post, we analyze Rebel Cars to decide if it’s a good investment. We look at the quality of the team, product, tokenomics, and momentum to help make that decision.

About Rebel Cars?

Rebel Cars is a blockchain-based racing game with impressive graphics by Unreal Engine. The game’s realistic automotive physics and immersive simulations offer a new level of excitement.

You will be able to buy, sell, and trade in-game assets such as cars and tracks, and players can bet on who will win the race. By progressing within the game, you can also unlock valuable in-game rewards. The game is developed by a small CGO studio in Greece called IXOR Digital. 

Each car is an NFT

According to their discord page: 

With RebelCars.io, you can:

  • Customize and Upgrade: Tailor your cars with unique parts and designs to stand out on the track.
  • Race and Compete: Challenge racers worldwide in thrilling races and climb the leaderboards.
  • Buy, Create, and Trade: Buy and design your own tracks and cars, mint them as NFTs(non-fungible tokens), and trade them with others in the marketplace.
  • Make $RC tokens & Rewards: Win races, participate in tournaments, sell, rent, and engage with the community valuable in-game prizes.
  • Online Betting: Unique feature in RC where users and visitors can bet and participate in races.

What is Elysium? 

Elysium is a platform for blockchain games built on Polkadot. It is EVM compatible which means you can use the same code you use to build apps on Ethereum on Elysium as well. The most significant benefit is that Elysium’s blockchain technology is faster and customized for metaverses and crypto games. 

The Rebel Cars IDO took place on the Elysium launchpad.

Is RC a good investment?

At the time of writing, the $RC native token had a $11Mn market cap and a $50 million fully diluted market cap. It’s natural to get excited that a small investment at this stage could grow substantially. Let’s examine the extent to which our research supports a bullish case. 

Overall verdict

  • Team: 35%
  • Product: 35%
  • Tokenomics: 35%
  • Momentum: 30%


1. Are the founders legit with related experience?     ✔️   

Andronikos Bisogiannis has 20 years of experience as the CEO and founder of a CGI and special effects company. One of his projects was for Vulcan Forged, a metaverse games platform. There is no other information on any other team members or game developers.

2. Have they built Web 3 projects before?    ❌    


3. Did they do an exit?    ❌    


4. Can you find legit profiles on LinkedIn?    ❌    

Only the CEO

5. Did they raise funds?    ❌    

$500K in private seed round, $1.5Mn in private round for early investors, and 1.5Mn in public sale through an initial dex offering (IDO). No big-name investors were revealed. However they did sell out on day of the IDO which is a good sign.

6. How long have they been around?    ❌    

Launched in 2023

7. Public appearances through Interviews/podcasts    ❌    

There’s nothing

Overall team score        35%


1. Is it easy to understand what they do?     ✔️    


2. What is it?    –    

A racing car game for PC where the car is an NFT, and you can bet on races

3. Is there a demand for their product?     ❌    

People like playing racing car games. Whether they like this one remains to be seen. It’s too early to tell

4. Is there a use case?    ✔️    

Bet on virtual race car betting. I don’t know if this will be a thing

5. How big is the market? ❌    

According to Statista, total revenue in the racing games market is projected to reach US$1.68 billion in 2022. This is not massive compared to industries that crypto projects aim to disrupt.

6. Is it being used?     ❌    

The product is not live yet

7. Github activity    –    n/a

8. Has the product launched?    ❌    


9. Does it have a strategic moat?     ❌    


10. Is it focused?    ✔️    

Yes, it’s not trying to build a metaverse or its blockchain. It’s just wants to be a racing car game with good graphics

11. Is the website easy to understand for non-crypto visitors?    ✔️    

Yeah ok

12. Do they have a proof of concept?    ✔️    

Their site has some examples of what the marketplace will be like

13. Is the UX good?     ✔️    

The demo video looks decent with a realistic gaming experience

14. Is it already being done?     –    

Yes, there are a bunch of racing games that use a blockchain

15. At what stage is the product?     –    

In development

16. How does it create value?     –    


17. How does the project generate revenue?    –    

I guess they will take a cut in the marketplace and the betting

Overall product score        35%


1. Why is the coin valuable?    ✔️    

You need it to buy stuff and place bets

2. Did they do a pre-mine?    –    


3. Is supply fixed or inflationary?    –    

Fixed at 1Bn

4. Was it a fair launch?    –    

No, they did presale to seed investors (15%)

5. Circulating/total supply    ❌    


6. Token release schedule    ❌    

For the 15% presale in spring 2024, 20% vests every month

7. Are there incentives to reduce or lock supply?    ❌    

They don’t specify, but they do have a rewards pool, so maybe they will introduce staking

8. How many tokens    ✔️    

only $RC

9. How much upside is left: market cap vs. industry size    ❌    

$11Mn vs. 1.7 Billion

10. Is it listed on major exchanges?    

I’m not on tier 1 yet.

Overall tokenomics score        35%


1. Is it trending on social media?    ❌

No, though it has a surprising number of followers on Twitter

2. Is the market cap low compared to similar projects?    ❌    

No, there are other racing games with lower market caps

3. What is the crypto market like?     ✔️    

In the middle of a bull run

4. What is the sentiment for the sector this crypto focuses on    ✔️    

Gaming is hot

5. Are they marketing heavily?    –    


Overall momentum score        30%

Bottom line:

I am not taking a position in Rebel Cars. It’ still early days and there are too many unknowns about the team and the project. I am also apprehensive about the potential for the game to go viral. On the positive side the product looks to have good graphics and a notable number of followers on Twitter. I will be keeping an eye out on this one but for the moment there are other digital assets that score higher with this naive research framework that I use. See trending coins for more research like this.

None of the above is investment advice. I am about as clueless as the next person. 

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Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

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