The new Play-to-Earn project PlayDoge (PLAY) has had an eventful start.
The project has raised $5 million in its limited-time presale phase, with the development team planning to list PLAY on DEXs later this year.
PlayDoge crypto presale reached $5M milestone in first few weeks
PlayDoge’s early presale numbers are eye-catching.
The project has raised $5 million in funding since going live on May 28.
Right now, PLAY tokens are on offer for $0.00511 each.
However, this price will rise over time due to the presale’s stage-based structure.
The development team has taken this approach to reward investors who buy at the earliest point.
Investors can make purchases using ETH, USDT, BNB, or a credit/debit card.
As outlined in PlayDoge’s whitepaper, the developers plan to list PLAY on a DEX once the presale ends.
No specific names have been revealed – but PancakeSwap will probably be the chosen destination since PLAY is a BEP-20 token.
Interest in PlayDoge’s presale is also growing on social media.
Over 5,300 people have followed the project’s Twitter page, where the developers provide regular updates on presale milestones and development progress.
More than 5,400 people are also active on PlayDoge’s Telegram channel.
How PlayDoge’s play-to-earn pet game works
So, what actually is PlayDoge?
It’s a Play-to-Earn (P2E) mobile game in which players adopt and nurture a virtual Doge pet, similar to a Tamagotchi.
The core gameplay loop is simple.
Players feed their pets, play mini-games with them, and care for them to keep them from running away.
By doing this, players earn PLAY tokens over time.
For example, let’s say a player logs in multiple times a day to feed and entertain their Doge for a week straight.
By meeting its needs, that player could earn a substantial amount of PLAY tokens, which they can swap for other cryptocurrencies or stake for passive income.
PlayDoge’s staking system offers estimated annual yields of 140%.
And the numbers so far show its popularity – investors have staked over 117 million PLAY tokens since the presale began.
The PlayDoge developers have also aimed to instill confidence by having the project’s smart contracts audited by SolidProof.
SolidProof’s analysis found no significant vulnerabilities, giving a stamp of approval to PlayDoge’s architecture.
App launch, CEX listings, & token ecosystem dominate PlayDoge’s roadmap
PlayDoge has much more ambitious plans beyond the initial presale.
According to the project’s roadmap, the team is already in development mode for the core gaming experience.
Phase 2 will see the presale end and PLAY token’s launch on DEXs.
From there, it’s into Phase 3 – where there will be a big marketing push to build excitement.
PlayDoge’s team also intends to beta test the mobile app and pursue listings on major CEXs.
In Phase 4, the ultimate goal is the full public launch of the PlayDoge app.
There will even be an airdrop for the community – although this is still being finalized.
The long-term vision is to create an entire ecosystem around the PLAY token.
And the tokenomics are structured to support this goal.
PlayDoge’s team has allocated 12% of the 9.4 billion token supply for staking rewards, with additional portions set aside for liquidity, marketing, and further development.
Thanks to this setup and PlayDoge’s unique gameplay loop, the hype has reached YouTube.
Popular YouTuber Matthew Perry praised PlayDoge in a recent video.
He also announced that he invested $500 in the PlayDoge presale.
Ultimately, PlayDoge shows significant potential, and its early presale success suggests it could be one to watch in the P2E gaming space.