Binance rumors have already begun for PlayDoge (PLAY), a new GameFi presale, which is exploding on crypto markets as retail investors flock to the biggest DOGE GameFi launch of 2024.
But what’s got markets so hyped up? The answer is simple:
Doge memes mixed with a play-to-earn (P2E), Tamagotchi style, on-chain game.
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
Mixing memes with fun GamFi utility is a recipe for viral success, which can be evidenced when comparing the current price action for DOGE and FLOKI.
Dogecoin has increased by a respectable +15% over the past 30 days but is overshadowed by FLOKI, rising over +70% in the same time frame.
(DOGE)
DOGE gets by on being an OG meme coin propped up by Elon Musk but has effectively zero utility.
Floki, on the other hand, has a P2E Metaverse called ‘Valhalla’ alongside NFTs and a staking protocol. This suggests that P2E+meme utility tokens will be hot commodities in this bull run.
But What Exactly Is New GameFi PlayDoge?
PlayDoge is a mobile-based P2E game transforming the iconic Doge meme into a Tamagotchi-style virtual pet.
The game itself is still in development, but once live, players will use PLAY tokens to activate P2E rewards for keeping your 2D Doge healthy and beating the game levels. The following information is taken from the PlayDoge website;
“Thriving in his own 8-bit digital world, PlayDoge, your P2E companion, still needs care and attention just like a real dog. Feed, train and play with your 2D Doge while guiding it through in-app mini-games and earn PLAY tokens to treat your best friend!
With nothing to lose, the owner starts the game and is astounded to find that their cherished Doge has been sucked into the pixelated, 8-bit world of the early 1990s, trapped within the game’s 2D confines. Yet a mystical link between the past and present offers hope, and the key to rescuing all Doges lies within this retro game – and the PlayDoge app.”
DOGE GameFi: How Does PlayDoge Stack Up Against The Competition?
PlayDoge’s biggest competition is FlokiInu (FLOKI) and ShibaInu (SHIB).
As mentioned above Floki has a P2E Metaverse named Valhalla on testnet right now, while Shib has a Metaverse named ‘Shib The Metaverse’ which has been in development for some time with no formal date for launch.
Floki has a current market cap of $3 billion, while Shib has a market cap of $14.8 billion, which shows PlayDoge’s potential if the team delivers on the road map – Floki would need a further $3Bn in fresh capital inflows to perform a 2x – as it stands, PlayDoge would need less than $1m.
Can't wait for the next sneak peek ☺️. #ShibTheMetaverse has huge plans, and @treatsforShib are a big part of it.
♥️ @mvshib
IYKYK.
pic.twitter.com/8FgWwik0kp— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) March 17, 2024
The only competition to PlayDoge in the Tamagotchi-style niche is FrenPet (FP). Built on the Base chain, FrenPet launched back in February and has seen great success thus far.
Its current market cap is $37 million, and at its all-time high, it was around $80 million. The demand for such a nostalgia-inducing P2E game on the blockchain is evident, with FrenPet having over 18,000 holders and a consistent player base of over 1,000 daily players.
What Chain Will Be Home To PlayDoge?
PlayDoge is being built on Binance Smart Chain (BSC), and while a big reason is the low fees, there are early rumors that the team has internal connections to Binance, which could lead to a future Tier 1 CEX listing.
BSC currently beats Base in both daily volume and total value locked (TVL) metrics.
This bodes well when comparing the potential of PlayDoge to that of the aforementioned FrenPet on Base.
BSC is a top 3 chain across all metrics and is well established whilst being backed by the global entity Binance.
This, coupled with the low fees, makes it a perfect home for the PlayDoge game.
Final Thoughts on PlayDoge
While being synonymous within the crypto world, the Doge meme has transcended to those on the outside due to figures such as Elon Musk.
Using the Doge meme as a character in a P2E blockchain game looks to be a genius move – the overall market cap for the P2E category on Coin Market Cap currently stands at $14.2 billion.
Jumping on board a presale for a project mixing all of these hot narratives might be one of the best choices you make all year.
To top it off, once you purchase your PLAY tokens, you can start staking them instantly, which will reward you with more PLAY tokens for the upcoming DEX launch of PlayDoge.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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