Despite a sluggish week in the crypto market slump, the PlayDoge ($PLAY) presale has successfully raised $4.5 million.
After launching just three weeks ago, its impressive total raise reflects huge excitement about its Play-to-Earn (P2E) and meme coin crossover use case.
The current $PLAY price is $0.00508, but it will rise throughout the presale. The next uptick will occur in seven hours or when the total raise hits $4.9 million.
https://twitter.com/PlayDogeGame/status/1801601024991314342
Here’s why P2E gaming is crypto’s next big meta
P2E cryptos like Axie Infinity were unequivocally successful in the 2021 bull run, but the sector’s early stage meant it was not without growing pains.
For instance, Axie Infinity was hacked, and there were also concerns about the game’s enjoyableness or lack thereof.
Yet, with three more years of experience in the bank, the P2E meta is back and bigger than ever, spearheaded by the newly launched Notcoin.
Notcoin amassed a whopping 35 million users before it launched its token in May, which enabled a swift rally to a $2 billion market cap.
Now, another P2E game is taking the market by storm: Hamster Kombat. The latest figures suggest that it already has over 150 million players.
https://twitter.com/hamster_kombat/status/1801550995538739253
Hamster Kombat is also set to launch a token shortly, which will likely draw billions in liquidity.
And the P2E craze is not ending there. Prominent market commentator Alex Becker suggests that the legacy gaming sector will shift to Web3 architecture for community building.
He also speculates that many big gaming cryptos will 10x in price, while smaller projects will 20-30x.
https://twitter.com/ZssBecker/status/1793241346649567300
PlayDoge is the most recent P2E gaming crypto to cause a stir. Its blockchain-based reboot of the iconic 1990s Tamagotchi game opens it to a new audience.
Tamagotchi-inspired P2E use case can draw a massive crowd
For those who don’t know, Tamagotchi is a handheld pet companion device where users would care for their virtual Tamagotchi pet, ensuring it is fed, rested, and entertained.
The concept was an unwavering success, selling over 82 million units worldwide.
Fast-forward to today. PlayDoge is reintroducing the concept with an updated reboot that rewards players with free crypto.
This is bound to attract fans of the original Tamagotchi, who can now relive their childhood gaming experiences while earning rewards.
However, the game will also appeal to those interested in cryptocurrency and P2E gaming, invoking a huge addressable market for PlayDoge.
On the topic of its addressable market, data from Precedence Research suggests the gaming market will reach a $655 billion valuation by 2030—over double its value today.
At the same time, the demand for nostalgic gaming is also on the rise, with last year being labeled the golden era of gaming remakes. This trend was echoed by earlier data, which found that the sales of major game remakes doubled between 2018 and 2020.
Robust tokenomics hint that PlayDoge could go to the moon
At the center of PlayDoge’s tokenomic efforts is its inherent token utility.
PlayDoge users must hold $PLAY to earn rewards, aligning the token’s demand with the platform’s popularity.
Furthermore, $PLAY is the ecosystem’s native utility token, which can be staked and used for making in-game purchases.
Stakers can notch a 176% APY, but this will decrease as the staking pool grows.
12% of the token’s 9.4 billion supply is allocated to staking, with another 50% to the presale, 11.5% to liquidity, 10% to marketing, and 10% to project funds.
In addition to its utilities, PlayDoge will also benefit from meme coin-driven demand, providing exposure to the sector’s sweltering $51 billion market cap.
With all this in mind, leading industry analysts are tremendously bullish on PlayDoge.
The Crypto News YouTube channel suggests 100x returns could be on the horizon. It underscored the project’s early momentum and its unique use case.
“You need to understand what this project is doing. When it first came to my table, I was mind-blown. Yep, this was it. The title is going to be amazing. The game is going to be amazing. This project is blowing up.”
https://www.youtube.com/watch?v=uxV6caE_XmY
With a use case spanning two of crypto’s hottest current trends, robust tokenomics, and ubiquitous industry support, the stars are aligned for PlayDoge’s success.
But with incremental price increases throughout the presale, those seeking the most value should act quickly.
