A new Doge meme coin called PlayDoge has exploded onto the scene after raising $200,000 within minutes of the start of its presale.
Doge meme coins are big in crypto and have been for some time now, and so too is play-to-earn (P2E) focused GameFi crypto.
Those two observations mean that PlayDoge, which speaks to both sectors, is perfectly positioned to attract the attention of legions of crypto watchers on the hunt for the next Floki Inu.
What’s more, PlayDoge’s native token $PLAY runs on the BNB Smart Chain.
That’s more good news for $PLAY token buyers because it means it is 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!
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY.
Don’t neglect your doge, his life’s on the line #Presale Now Live! pic.twitter.com/qV3WOdRTEo
— PlayDoge (@PlayDogeGame) May 28, 2024
PlayDoge ($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 earn rewards through caring for their pet and taking it on adventurous journeys to earn rewards.
Timely feeding, training and sleep all go towards the rewards earned 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 pales measured against the 74.6% for $FLOKI, at $0.000294.
The difference in price performance can be explained by the lack of utility of Dogecoin, although it can rely on its reputation in the market as the original gangster meme coin.
Dogecoin has no utility, other than perhaps as a means of exchange, although not much has happened on that front since Elon Musk hinted at plans for his companies to make it an accepted form of payment.
Today you can use it to buy merchandise in the Tesla store, but that’s about it.
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.
$PLAY – the next 100x meme coin like $PEPE
In three days’ time the price of the $PLAY token jumps to $0.0055.
As meme coin mania continues unabated, there is every reason to expect demand for the token to accelerate as the news of the presale spreads.
If the broad and continuing appeal of meme coins was in any doubt, the recent riotous performance of $PEPE and $BONK means market participants will not want to let the PlayDoge opportunity slip through their fingers.
In the past three months, $PEPE is up 400% and $BONK 119%. $PEPE has gained 56,800% since its all-time low price of a year ago.
So even where meme coins have no utility, apart from the subjective properties of cuteness and humor, they still have a formidable power of attraction.
But a meme coin like $PLAY that has those viral properties as well as real-world utility, is sure to sweep all before it.
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.
As we have seen, it is a different story for gaming meme coins like PlayDoge.
And it is different again 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.
With $PLAY tokens serving as the primary in-game currency, players can unlock exclusive features, customize their experience, and even earn passive income through staking.
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 stands in a unique position to capitalize on this wave of enthusiasm.
By merging the nostalgia of 90s games with the current excitement around meme coins, PlayDoge offers a unique gaming experience.
PlayDoge’s smart contract is fully audited, providing prospective contributors with peace of mind about the solidity of the project.
To contribute to the pathbreaking PlayDoge presale, connect your wallet and buy using BNB, USDT or ETH. Buyers can also pay for tokens using their bank card.
Keep in touch with project developments by joining the community on X (formerly Twitter) and Telegram.
The post New Play to Earn Meme Coin PlayDoge Raises $200,000 in Presale, Can it Challenge Floki Inu? appeared first on Cryptonews.