PlayDoge has been touted by various analysts as the Next Dogecoin with the potential to surpass a 10x return on investment.
PlayDoge (PLAY) as a project combines the buzz of meme coins with the highly engaging nature of Play-to-Earn games to provide a project that appeals to two distinct categories of the crypto space (Meme coins and P2E). These two categories have had a huge impact on the crypto space in terms of revenue and driving adoption.
PlayDoge is a memecoin and joins the category of dog-themed memecoins like Dogecoin, Shiba Inu, and Dogs.
The project looks to mirror the success of other P2E projects like Hamster Kombat and Notcoin which taps into the addictive nature of games to grow a solid community around a project and drive adoption of cryptocurrency by new users.
How PlayDoge Works?
The concept of PlayDoge is inspired by a hit game in the 1990s known as Tamagotchi. Players are expected to nurture and take care of an 8-bit pixel virtual doge pet keeping it happy, healthy and entertained. Their efforts are rewarded with $PLAY tokens according to the degree of care received by the virtual pet.
The game also has other Mini games and fun activities designed to foster a relationship between the player and the virtual pet.
The goal of the project is to leverage the P2E dynamic to encourage increased engagement with the game through the distribution of crypto.
The game is available on mobile apps opening it up to a chance of wider adoption by global players.
Can $PLAY tokens be staked?
Players of PlayDoge can stake their earned tokens on only two networks at the moment — Binance Smart Chain and Ethereum.
It is to be noted that the Annual Percentage Yield (APY) of staking $PLAY tokens on both networks differ.
The APY on staking $PLAY tokens on Ethereum is 100% while that of BSC is 74%.
Interested players are advised to stake their tokens soon enough as the APY decreases with the number of people staking on these networks.
Numbers
At the time of this report, $PLAY tokens are exchanging hands for $0.00268 on the PLAY/WETH pool and $0.00186 in the PLAY/WBNB pool. The Market Cap at the moment has grown to $17.5 million.
The PlayDoge project has raised more than $6.5 million from Presale contributors impressed and excited about its prospect. The Presale campaign ended on August 26th after the said amount was raised.
The amount of $PLAY tokens staked on BNB and Ethereum are valued at $241,000 and $316,000 respectively.
PlayDoge as the Next Dogecoin
Dogecoin which was initially promoted by Elon Musk is seen as the poster child for memecoins who did a 100x return on investment.
According to data from Coinmarket Cap, any trader or crypto enthusiast who bought Dogecoin at its lowest price nine years ago is today sitting on a 117,766% gain. Analysts believe PlayDoge could be the next Dogecoin given its innovative approach and strong investor confidence demonstrated by its very successful presale campaign.
For example, Analysts like Umar Khan of 99Bitcoins predicted that PlayDoge can 100x within its first seven days of launch
PlayDoge is also launching at a time when the memecoin rave is making a comeback especially on Binance Smart Chain (BSC). DOGS another memecoin just completed its airdrop event days ago with several players claiming their tokens.
PlayDoge is up there as one of our Next Gems given its impressive presale performance and the fact that the project is leveraging two high-performing crypto categories which are Memecoins and the Play to Earn Category.