The new multichain Play-to-Earn (P2E) meme coin PlayDoge ($PLAY) has reached a new milestone of over $4 million after only two weeks of its presale.
This achievement comes after the team’s recent announcement of Ethereum staking. This joins its original staking option on PlayDoge’s origin chain, BNB Smart Chain. This multi-chain staking builds on the utility of the $PLAY token. BNB Smart Chain is still seen as the primary chain as it will underpin the upcoming 8-bit PlayDoge P2E game.
PlayDoge is a nostalgia-fueled retro game that transports the iconic Doge meme into a 2-D side-scrolling world reminiscent of Tamagotchi, the viral 90s pocket game. Doge meme coins are still the leaders of the pack. They currently make up six of the top ten meme coins by market capitalization.
PlayDoge takes the infamous meme to the next level, offering players a fun virtual gaming experience where their care and attention to their new companion can earn them $PLAY tokens.
The buzz around the game has been building rapidly. For those who want to get in on the ground floor, there is currently a presale happening. Right now, investors can net themselves $PLAY tokens for just a little over half a cent.
Those who invest early in the ICO have the opportunity to buy in at what could be the lowest price for the rest of the year. Due to the usefulness of the token’s underlying concept, this could potentially be an all-time low.
Once this game launches and word starts to spread among gamers and cryptocurrency enthusiasts, the token’s value could increase greatly. There is even a chance for it to surpass Dogecoin’s current value of $0.14 and reach $1.
Meme Coin And P2E Summer is Here
Meme coin mania has only just begun…
A quick look at some of the most successful meme coins currently demonstrates how this sector frequently surpasses the performance of the leading cryptocurrency, Bitcoin ($BTC), when the market is experiencing growth. Meme coins were the most popular narrative of Q1, with an average 1,312.6% return on the top tokens.
BTC dropped 0.3% in the last 24 hours, while two top dog-themed coins, Dogecoin and Dog (Runes), are up 2.4% and 6.3%, respectively.
In April, CoinMarketCap noted that 138 new meme coins were being added to the market. The total value of all meme-based cryptocurrencies currently amounts to an incredible $55 billion. Moreover, that number is only set to increase with the influx of competition.
And it’s not just short-term gains. Investors who purchased the Dogecoin ($DOGE) cryptocurrency, which is considered a market leader and an original canine meme coin, experienced a significant increase of 131% in value over the past year.
Meanwhile, smart investors who decided to hodl their Floki ($FLOKI) are 27% richer than they were this time last month and an enviable 886.23% better off than a year ago.
Although there has been a decrease in intraday gains recently, it is important to highlight that PlayDoge’s Play-to-Earn (P2E) category is also performing well and looks to be heating up this summer.
Precedence Research predicts that the worldwide video game industry will grow to an impressive $665 billion by 2033. This is partly due to the introduction of mobile play-to-earn games. The market cap for play-to-earn games on CoinGecko reached approximately $13 billion in June 2024.
A P2E Meme Coin Brining 90s Gaming Nostalgia to Web3
PlayDoge is more than just a meme token. It is a modern version of Tamagotchi that is monetized through Web3, using $PLAY as the currency within the game.
Those who enjoyed raising digital pets on handheld devices in the 1990s will be thrilled by the ways in which PlayDoge encourages them to revisit their childhood and carefully care for virtual pets once more.
Source: @PlayDogeGame
Now, their dedication and care for their virtual Shiba Inu will earn them experience points (XP). Players can also earn XP by taking part in in-game challenges and adventures.
Gamers who have accumulated the highest amount of XP on the game’s leaderboard will be rewarded with additional $PLAY tokens and exclusive prizes.
Don’t worry if you didn’t get in on the Tamagotchi craze back in the day. PlayDoge has a much easier learning curve. The adorable Shiba Inu is a much more durable pet compared to the Tamagotchis you may recall.
Another method of acquiring $PLAY is by utilizing the game’s staking feature. This allows the game’s users to earn tokens without actively participating. Those who stake early can receive a high APY of 242% on Ethereum and 88% on BNB Chain.
Because the staking contracts vary between the Ethereum and BNB chains, the annual percentage yield (APY) will differ depending on the chain and the amount staked.
PlayDoge combines the popular Doge meme with the nostalgia of retro gaming experiences like Tamagotchi. That combination has proved to give PlayDoge a leg up, crafting a unique gaming economy that will capitalize on the fast-growing meme coin market.
PlayDoge Positions Itself at the Intersection of the Meme Coins, Play-To-Earn, And Gaming Remake Sectors
PlayDoge is more than just a meme coin; it also taps into the nostalgia of 90s video games by reviving a popular 8-bit game. By doing so, it is participating in the thriving trend of game remakes.
Gaming nostalgia is trending across the globe. We’ve seen remakes of games like Final Fantasy VII and Resident Evil 4 enjoy huge success as gamers revisit their childhoods. Last year was even named the golden age of game remakes. However, even before that, sales of major remakes had already doubled from 2018 to 2020.
Even though there was a downturn in the cryptocurrency market in 2022, the gaming and metaverse industry of Web3 still received significant investments. Moreover, those inflows totaled approximately $2.9 billion, as reported by DappRadar.
These patterns indicate that PlayDoge’s monetized Tamagotchi remake falls perfectly in the intersection of game remakes, play-to-earn gaming, and meme-based cryptocurrencies.
And when you consider the P2E component, which is a popular sub-sector of cryptocurrency gaming expected to experience significant growth, it’s no wonder that YouTube influencers like 99Bitcoins, ClayBro, and CryptoNews are all predicting that PlayDoge will become the next major meme coin.
Be Part of PlayDoge’s Lovable Tamagotchi Remake With the $PLAY Presale
The PlayDoge game may still be in development, but based on how fast the presale is reaching its target, we could see it fly through each stage of its roadmap.
PlayDoge is distributing about half of its total token supply—4.7 billion $PLAY tokens—through the presale. The total supply is 9.4 billion tokens, and 1.128 billion tokens are designated for staking rewards.
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.
It should be mentioned that the primary chain for $PLAY is the Binance Smart Chain, now known as the BNB Chain. This detail could greatly streamline the process for a possible listing on Binance. Especially as the play-to-earn game and $PLAY gain popularity.
Being listed on Binance, the largest centralized exchange in the world, would significantly increase the value of $PLAY due to the increased liquidity that could come from trading pairs.
BNB Smart Chain is Binance’s own blockchain platform. By March 2024, the popular exchange will hold a significant market share of 49%.
Moreover, PlayDoge’s smart contract has been thoroughly audited by SolidProof, providing potential investors with assurance about the project’s security.
Participating in the presale is simple: link your wallet and begin buying $PLAY with BNB, ETH, or USDT. PlayDoge also allows credit card payments. You can then stake your tokens right away on the presale website.
To stay informed about the project’s latest updates, you can join the community through X and Telegram.