Could This P2E Meme Coin be the Next Floki? Playdoge ICO Raises $5M
The post Could This P2E Meme Coin be the Next Floki? Playdoge ICO Raises $5M appeared first on Coinpedia Fintech News
Investors are flooding the PlayDoge ($PLAY) presale as its total raise clears the $5 million mark.
PlayDoge is a Play-to-Earn (P2E) meme coin inspired by the infamous 1990s Tamagotchi game.
While it’s native to BNB Smart Chain, users can also purchase $PLAY on the Ethereum network.
Its presale is ongoing and currently priced at $0.00512. This price will rise throughout the ICO, with the next increase in two days.
PlayDoge’s hybrid P2E meme coin use case is a big deal
PlayDoge’s P2E meme coin narrative is the foundation of its presale success.
Its 8-bit doge mascot is drawing investment from meme coin enthusiasts.
Meanwhile, its P2E utility appeals to more calculated investors.
When you combine these two pieces, you have a highly speculative demand stream with viral potential and a steadier demand stream to complement its meme coin allure.
At its core, PlayDoge is a Tamagotchi-inspired game.
Tamagotchi emerged as a gaming sensation in the 1990s, selling over 82 million units.
The game concept was simple but addictive: Users would interact with their virtual pet, ensuring it was happy and healthy so it didn’t run away or die.
And now PlayDoge is rolling back the clock.
It’s providing an even more captivating reboot with upgraded 8-bit graphics, intuitive touchscreen controls, and, most importantly, cryptocurrency rewards.
With PlayDoge, players earn XP for interacting with their pets and completing mini-games.
These XP points push players up the project’s leaderboard, and the higher they go, the more $PLAY they earn.
Users can cash their tokens out, use them for in-game purchases, or stake them.
They must also hold $PLAY to receive rewards.
This means $PLAY has innate utility, aligning its demand with the platform’s popularity.
It’s an ingenious concept based on a token economy. This comes as investors discover the far-reaching benefits of P2E gaming.
P2E is entering a golden age in 2024
Bloomberg and other world-leading mainstream media outlets are taking note of P2E gaming.
One place where P2E has taken shape is the Toncoin ecosystem. Its most active outlay, Hamster Kombat, boasts over 150 million users – almost 50% of the United States population!
Hamster Kombat has yet to launch a token, but millions of players participate in its tap-to-earn ecosystem, hoping to receive rewards once the token goes live.
Bloomberg picked up on this phenomenon and said P2E gaming could be crypto’s “next killer app.”
And it’s not just Hamster Kombat causing a splash.
Notcoin is another outfit seeing mass adoption. The project recently announced it has over 40 million players and a $1.4 billion market cap.
Quick recapNotcoin has 40M users total These are the activated users from the database, not from web analytics tools that multiply # of users by their sessions and now show 500M Notcoin users lol pic.twitter.com/UUIp6oK0RA— Notcoin Ø (@thenotcoin) June 9, 2024
Currently, the crypto gaming market cap is $19 billion, roughly the same as Dogecoin’s. Considering the unprecedented adoption of gaming, this reflects massive room for growth.
That’s great for PlayDoge, which also has exposure to the $44 billion meme coin market.
PlayDoge price will be 10x after it launches on exchanges?
In response to its favourable use case and market position, well-known industry figures have backed PlayDoge as a crypto to watch.
Prominent trader Jacob Bury analyzed current market conditions and suggested the next crypto rally could occur around the same time PlayDoge launches on exchanges.
Based on this thesis, Bury anticipates that $PLAY could be 10x after its initial exchange offering (IEO).
“We are seeing a bit of a correction following the euphoric phases. But I think we are really going to see crypto pump in late Q3 and Q4,” he said.
Bury also highlighted that presale investors can stake their tokens.
At the time of writing, stakers can earn a 134% APY. However, this will decrease as the staking pool grows.
Combining that with PlayDoge’s incremental presale price increases, there’s a massive benefit to buying the presale early.
So don’t miss this emerging P2E sensation. Join its Telegram or follow the project on X to stay updated. Alternatively, visit its website to buy and stake tokens.
Visit PlayDoge Presale
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