Latest GameFi Meme Coin PlayDoge Raises $270,000 in Minutes, is PLAY Token the Next FLOKI?
Wednesday 29 May 2024, New York – A new Doge meme coin called PlayDoge ($PLAY) has exploded onto the scene after raising $270,000 within minutes of the start of its presale.
Doge meme coins are all the rage in crypto and have been for some time now, and so too is the play-to-earn (P2E) focused GameFi category.
Those two observations mean that PlayDoge, which speaks to both sectors, positions PlayDoge to attract the attention of meme coin aficionados.
Participants in the presale may also take into account $PLAY being a BNB Smart Chain token. That’s likely more good news for PlayDoge presale contributors because it puts it on the radar of the Binance listing team – BNB Smart Chain is the Binance in-house blockchain.
Binance is the largest centralized exchange in crypto, commanding a market share of 49% as of March 2024.
Introducing #PlayDoge - the only #P2E Doge companion! 🐶
— PlayDoge (@PlayDogeGame) May 28, 2024
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY. 💰
Don't neglect your doge, his life's on the line 😲💀 #Presale Now Live! pic.twitter.com/qV3WOdRTEo
https://x.com/PlayDogeGame/status/1795369985209958760
PlayDoge ($PLAY) takes Tamagotchi into the mobile play-to-earn era – buy today for $0.005
PlayDoge is a mobile game that transforms the iconic Doge meme into a Tamagotchi-style virtual pet, allowing players to earn its $PLAY token.
Although it is a meme coin, PlayDoge is built around gaming utility – specifically, the 2D companion games that were wildly popular in the 1990s.
PlayDoge is making a virtue of the classic 8-bit bitmapped look and feel of those side-scrolling hits. It will enable players to receive rewards for caring for their pets and taking them on adventurous journeys.
Timely feeding, training and sleep all go towards the rewards accrued by the conscientious pet owner. By plugging into the power of decentralized crypto networks, PlayDoge is building a gaming economy based on monetizable value.
The presale starts with an offer price of $0.005, but the fundraising uses a price ladder, so the earlier you buy the lower the price. 50% of the total token supply of 9,400,000,000 is up for grabs in the presale.
Game on: PlayDoge ($PLAY) bettering FLOKI and SHIB in the gaming stakes?
A clear trend is emerging that is setting apart those meme coins with tangible utility from those with none.
Take Dogecoin, for instance. Its price has increased 11.5% in the past 30 days to $0.164. That’s a reasonable advance, but it pales in comparison to the 74.6% for $FLOKI, at $0.000294.
One way of explaining the difference in price performance is the lack of utility of Dogecoin, although it can rely on its reputation in the market as the original gangster meme coin.
FLOKI, on the other hand, has branched out into the gaming world with its Valhalla NFT metaverse. Sure, the metaverse is not the buzzword it was just a year ago, but the vision that underpins it is still very much alive – the merging of digital and real worlds is upon us.
PlayDoge offers its metaverse solution by bridging the gap between humans and virtual pets. Monetizing gameplay using the $PLAY token and introducing a globally resonant meme – The Doge – could be a winning formula.
SHIB is going down the gaming route too, but there is no launch date yet for its ‘SHIB the metaverse’ product. All told then, it is very much ‘game on’ in the play-to-earn meme coin race – and it could be PlayDoge that is the ultimate winner.
The crypto gaming category has a market value of $27.9 billion, according to the latest CoinMarketCap data.
Still, even where meme coins have no or little utility apart from the subjective properties of cuteness and humor, they still have a formidable power of attraction. It could be that a meme coin such as $PLAY wins on both counts – it has viral potential as well as real-world utility.
Unlock a world of rewards in a video gaming market last year valued at $248 billion
Meme coins are hard to gauge in terms of future value due to the lack of revenue streams attached to those of the breed that have threadbare use cases. In fact, meme coins are a hyper-speculative category of the decidedly speculative crypto asset class, so prospective contributors to such presales must tread carefully.
But it is a different story when it comes to the valuation of the video game industry, where revenues and profits are plentiful.
The market size of the global video game industry is projected to reach $665 billion by 2033, according to Precedence Research. That constitutes a huge addressable market for PlayDoge.
The PlayDoge gaming ecosystem is not yet up and running, but development has already begun and the crypto makeover of Tamagotchi will excite the gaming community and crypto fans alike.
Therefore, as the popularity of meme coins continues to soar, PlayDoge sits in an enviable position to capitalize on this wave of enthusiasm
By merging the nostalgia of 90s games with the current excitement around meme coins, PlayDoge can offer a unique gaming experience.
PlayDoge’s smart contract is fully audited and no security issues have been found.
To participate in the pathbreaking PlayDoge ($PLAY) presale, a crypto self-custody wallet must be used, and purchases can be made using BNB, USDT, or ETH. Contributors can also pay for tokens using a bank card
Keep in touch with project developments by joining the community on X and Telegram.
