A new multichain Play-to-Earn (P2E) meme coin called PlayDoge ($PLAY) has raised over $4 million after only two weeks of its presale.
The news comes just two days after the team added Ethereum staking, alongside its original staking option on PlayDoge’s home base BNB Chain. The latter blockchain is still considered the project’s primary kennel, as it powers the eponymous upcoming 8-bit P2E game.
PlayDoge is a retro game starring the iconic Doge meme, which has inspired six of today’s 10 biggest meme coins by market capitalization. Doge is now the central character in a remake Tamagotchi game from the 90s, creating a fun virtual gaming experience where players attentiveness towards him earns them the game’s native token, $PLAY.
For those who want to get a headstart on the potentially explosive upside before the game’s launch, there is an ongoing presale. At present, investors can snap up the tokens for a fraction over half a cent.
Early birds who buy in during the ICO will potentially purchase at the lowest possible price for the remainder of the year. Given the utility of the token’s underlying premise, it could be the lowest price, full stop.
That’s because once the game launches and $PLAY hits the open market, word of mouth amongst gamers and crypto fans could send the token soaring potentially past Dogecoin’s current levels of $0.14 and up to the revered dollar mark.
Meme Coin And P2E Summer Has Arrived
The demand for meme coins is heating up this summer…
A cursory glance at some of the top-performing meme coins today shows how the sector often outperforms crypto market leader Bitcoin ($BTC) when the market is doing well.
BTC added 1.5% in the last 24 hours, getting outpaced by Pepe ($PEPE), which grew 7%. Newcomer Brett ($BRETT) is up 6%, while two dog-themed coins, Bonk ($BONK) and Dog Go To The Moon ($DOG) are up 5% and 17% respectively.
In April alone, CoinMarketCap recorded a total of 138 new meme coin listings. Currently, the total meme-based crypto market cap stands at a sweltering $63 billion.
These coins attract lasting gains for their holders. Those who bought market leader and original canine meme coin, Dogecoin ($DOGE), saw their bags swell by 142% over the last 365 days.
Meanwhile, diamond-handed Floki ($FLOKI) holders are 59% richer than they were this time last month and an eye-watering 1,232% better off than they were if they bought in at this time last year.
While intraday gains have slowed down for a period of consolidation, it’s worth noting that PlayDoge’s other coin category, Play-to-Earn (P2E), is also cooking this summer.
According to Precedence Research, the global video game market is expected to reach a staggering $665 billion by 2033. One of its latest innovations is mobile P2E games. The Play-to-Earn gaming category on CoinGecko increased to a total market cap of around $13 billion in June 2024.
A Play-To-Earn Meme Coin With A Hint Of 90s Gaming Nostalgia
PlayDoge is not just another meme coin. It’s a monetized Tamagotchi remake in Web3, with $PLAY serving as the in-game currency.
Fans of the 90s handheld digital pets will be delighted to see how PlayDoge gives them strong incentives to rekindle their childhood and become attentive virtual pet owners again.
This time, their positive efforts towards pet care will accumulate XP for them as they tend to the needs of their virtual Shiba Inu and embark on exciting in-game adventures and mini-games.
Players with the most XP on the game’s leaderboard will receive bonus $PLAY tokens and exclusive rewards.
And those that have bad memories of Tamagotchi the first time around need not fear: the difficulty curve on PlayDoge is a lot more forgiving, making him a much more resilient pet than the Tamagotchis you probably remember.
An additional way of earning $PLAY is through the game’s staking functionality, allowing users to earn tokens passively. Early staking participants can enjoy a generous APY of 242% on Ethereum and 88% on BNB Chain.
Due to the staking contracts being different for Ethereum and BNB Chain, the APY will vary between chains and the amount staked.
With this innovative fusion of two beloved themes – the iconic Doge meme and Tamagotchi – PlayDoge creates a vibrant gaming economy within the rapidly growing meme coin crypto subsector.
PlayDoge Combines Meme Coin, Play-To-Earn, Gaming Remake Sectors
While PlayDoge can be classified as a meme coin, it is by no means just that. In reviving a popular 8-bit 90s game, it’s also channeling the thriving nostalgia of the game remakes sector.
Last year was labeled the golden era of game remakes. But even prior to that, sales of major remakes had already doubled from 2018 to 2020.
And despite 2022’s crypto winter, the Web3 gaming and metaverse industry still saw substantial investment last year of around $2.9 billion, as reported by DappRadar.
These trends show that PlayDoge’s monetized Tamagotchi remake rides the sweet spot between game remakes, Play-to-Earn and meme coins.
Get A Jump On PlayDoge’s Adorable Tamagotchi Remake With $PLAY
As mentioned earlier, the PlayDoge app is currently in development, but this sweltering presale will likely propel it quickly through the next stages of its roadmap.
PlayDoge allocates a total of 50% of its 9.4 billion token supply, roughly 4.7 billion $PLAY tokens, to its presale, while 12%, or 1.128 billion tokens, are allocated to staking.
It is also worth noting that $PLAY’s home chain is the Binance Smart Chain, now called BNB Chain. This fact alone will significantly facilitate a potential Binance listing, when the P2E game and its native utility token $PLAY take off.
Binance is the world’s largest centralized exchange so a listing there would be a major valuation booster because of the liquidity that would potentially flood into $PLAY trading pairs.
BNB Smart Chain is Binance’s in-house blockchain. The global exchange giant boasts a market share of 49% as of March 2024.
Moreover, PlayDoge’s smart contract is fully audited by SolidProof, which gives prospective investors peace of mind about the project’s security.
Joining the presale is easy: connect your wallet and start purchasing $PLAY using BNB, ETH, or USDT. PlayDoge also offers the option to use credit cards.
To keep up with the latest information about the project, you can connect with the community via X and Telegram.
Visit the PlayDoge website to buy in at presale prices now.
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