After raising $3.8 million in its initial coin offering (ICO) in two weeks, Play-to-Earn (P2E) meme coin PlayDoge ($PLAY) is now cross-chain, announcing Ethereum staking, in addition to support for its main chain Staking on BNB.
Yesterday’s (11th) news means that PlayDoge’s $PLAY token can now be used on the Ethereum and BNB chains, and can be bridged between the two. However, the BNB chain remains the main chain and will be used in the upcoming 8-bit P2E gaming ecosystem.
PlayDoge combines the iconic Doge meme (which inspired six of the top ten meme coins by market cap today) with the beloved Tamagotchi 90s Tamagotchi game to create a fun virtual gaming experience. Players earn the native token $PLAY through games.
Pre-sales are still ongoing for those looking to get a head start on the potentially explosive gains ahead of the game's release. Currently, investors can snap up the tokens at a low price of $0.00506 each.
There is only one day left in the pre-sale to enter the eighth phase of forty, which will see the token price rise to $0.00508, so early buyers can lock in $PLAY at what will likely be the lowest price for the rest of the year.
Once the game is released and $PLAY hits the open market, the potential upside could send the token soaring.
Memecoins and P2E summer is coming
Demand for meme coins is heating up this summer…
In April alone, CoinMarketCap recorded a total of 138 new meme coin listings. Currently, the total memecoin crypto market capitalization reaches a staggering $63 billion.
These coins bring lasting returns to their holders. Buyers of market leader and original Dogecoin memecoin Dogecoin ($DOGE) have seen their assets increase by 142% over the past 365 days. Meanwhile, holders of Diamond Floki ($FLOKI) are 59% richer than they were last month, and if they had bought at this time last year, they would now be richer by a staggering 1,232%.
While intraday gains have slowed to allow for a period of consolidation, it’s worth noting that PlayDoge’s other currency category, Play-to-Earn (P2E), has also been on a tear this summer.
According to a report by Precedence Research, the global video game market is expected to reach a staggering $665 billion by 2033, and one of its latest innovations is mobile P2E gaming, with the Play-to-Earn gaming category on CoinGecko expected to reach a total of $665 billion in June 2024. Market capitalization increased to approximately $13 billion.
P2E meme coins with a sense of 90s gaming nostalgia
PlayDoge is more than just another meme coin. It is a remake of Tamagotchi monetized in Web3, with $PLAY as the in-game currency.
Fans of '90s handheld Tamagotchis will be excited to see how PlayDoge inspires them to rekindle childhood memories and become attentive virtual pet owners.
This time, their active efforts in caring for the pet will earn them experience points (XP), allowing them to play exciting gameplay adventures and mini-games while caring for their virtual Shiba Inu.
Players with the highest experience points on the game leaderboard will receive additional $PLAY tokens and exclusive rewards.
Those who have bad memories of their first Tamagotchi shouldn't worry: PlayDoge's difficulty curve is much more relaxed, making it a more resilient pet than you remember from the Tamagotchi.
Players can also passively earn $PLAY tokens through the game’s staking feature. Early staking participants can enjoy annual yields (APY) of up to 327% on Ethereum and 92% on the BNB chain.
Since the staking contracts of the Ethereum and BNB chains are different, the annual yield will vary between chains and depend on the amount pledged.
Through the innovative fusion of these two beloved themes - the iconic Doge meme and Tamagotchi - PlayDoge creates a vibrant game economy within the rapidly growing memecoin crypto sub-sector.
PlayDoge spans the memecoin, P2E and game remake industries
While PlayDoge can be classified as a meme coin, it is much more than that. While it's reviving popular 8-bit games from the '90s, it's also tapping into nostalgia to remake the booming gaming industry.
The last year has been called the golden age of game remakes. But even before that, sales of major remastered games had doubled from 2018 to 2020.
Despite the crypto winter of 2022, the Web3 gaming and Metaverse industries still saw considerable investment of approximately $2.9 billion last year, DappRadar reported.
These trends suggest that PlayDoge’s monetized Tamagotchi remake sits right in the sweet spot between game remakes, P2E, and memecoins.
With P2E elements — another popular subcategory of crypto gaming — exploding strongly, it’s no wonder YouTube influencers from 99Bitcoins to ClayBro are eyeing PlayDoge as the next big meme coin:
PlayDoge will be the best P2E game in crypto! Get ready to earn money in Play Doge!
Be the first to check out PlayDoge’s adorable Tamagotchi remake via $PLAY
As mentioned, the PlayDoge app is currently in development, but this red-hot pre-sale could quickly propel it through the next roadmap stage.
PlayDoge is allocating 50% of its total 9.4 billion token supply, or approximately $4.7 billion in PLAY tokens, to the presale, while 12%, or 1.128 billion tokens, is allocated to staking.
It is also worth noting that the main chain of $PLAY is the Binance Smart Chain, now called the BNB Chain. This fact will be a huge boost for a potential Binance listing when P2E gaming and its native utility token $PLAY take off.
Binance is the largest centralized exchange in the world, so a listing there would be a major valuation booster as potential liquidity will flood into the $PLAY trading pair.
BNB Smart Chain is Binance’s internal blockchain. As of March 2024, the global exchange giant’s market share is 49%.
Additionally, PlayDoge’s smart contracts have been fully audited by SolidProof, which provides potential investors with peace of mind that the project is safe.
Joining the presale is easy: connect your wallet and start buying $PLAY using BNB, ETH or USDT. PlayDoge also offers the option of using a credit card.
To get the latest information about the project, you can contact the community via X and Telegram.
Visit the PlayDoge website to purchase at the pre-sale price: https://cn.cryptonews.com/ext/playdoge-cn/
Original article: https://cn.cryptonews.com/news/tamagotchi-crypto-remake-playdoge-announces-ethereum-staking-multichain-bridging.htm