- 8 Mar, 23
PlayDapp (PLA) 101: Enter the Exciting World of Gaming
The entertainment industry has undergone significant development, especially thanks to the advancement of digital technologies. Currently, thousands of games on platforms like Steam are played by millions of people. However, the industry has a fundamental problem: centralisation. PlayDapp (PLA) coin, released in 2017, uses blockchain technology to address this issue. The project helps developers create their own decentralised applications (Dapps).
As a Dapp gaming platform, PlayDapp is built on the Ethereum blockchain and adopts technologies like NFTs. So, does the project show promise for the future? This article of Zatrun.com covers everything you need to know about the project.
Table of Contents
What is PlayDapp (PLA) and How Does It Work?
PlayDapp is a gaming platform that operates on the Ethereum blockchain and has features like an NFT marketplace. The project is working to create a complete entertainment ecosystem composed of interconnected games. This ecosystem hosts a cryptocurrency called PLA, which is used for various purposes as an auxiliary token of the platform. The company’s leading products include a marketplace for buying and selling NFTs. PlayDapp’s NFT marketplace adopts a customer-to-customer (C2C) trading model.
In addition to PLA, the marketplace supports a variety of cryptocurrencies such as ETH and KLAY. Currently, the project hosts several games that are integrated with multiple blockchains, including CryptoDozer, DozerBird, and Along with the Gods. However, the project is also developing two more games with RPG formats and a play-to-earn (P2E) model to diversify its player base. When these games are released, demand for the project and the cryptocurrency is likely to increase.
PlayDapp is a blockchain-based entertainment ecosystem. This ecosystem consists of NFT and cryptocurrency-based games. Users can earn their own unique NFTs by progressing in the games and can sell them through the NFT marketplace. Additionally, with the upcoming P2E games, they can also earn additional income passively. This will further increase demand for the project.
One unique feature of the project is its interoperability. In-game items, characters, and accessories that exist in the form of NFTs are not limited to use in just one game. If you have an NFT, you can also benefit from it in other games on the platform. For example, finding all the pieces of a puzzle in one game could unlock a character in a different game. To fully utilise this feature, PlayDapp is distributing a special Software Development Kit, which allows game developers to collaborate with the platform.
What is PLA? Is It a Good Investment?
PLA coin is the utility token of the PlayDapp ecosystem. This cryptocurrency, which has different standards on the Ethereum and Polygon blockchains, forms the basis of trade in the ecosystem. Game developers, DApp operators, and players receive this token when they are rewarded by the platform. Additionally, users can use PLA coin to purchase in-game NFT items. However, this does not affect the gameplay dynamics because PlayDapp aims to appeal to users who do not have knowledge about cryptocurrency.
PLA coin currently has a market capitalisation of $111.8 million. With this market value, it ranks as the 181st largest project in the entire crypto industry. The asset’s supply is limited to 700 million units, and there are currently 537.8 million tokens in circulation. PLA coin, which started to rise in 2021, reached its all-time high in November of that year. At that time, token was trading at $3.01. However, with the bear market of 2022, the asset’s price also fell like other cryptocurrencies.
The cryptocurrency, which lost more than 90% of its value, is currently trading at extremely low prices. Currently, one PLA coin can be purchased for $0.20. However, in the future, with the resolution of macroeconomic problems and investors returning to crypto, the asset’s price may exceed its previous high levels. Additionally, the project, although it has lost value, seems to continue to develop. There are two RPG games expected to be released soon.
If you are interested in the PlayDapp project and have decided to purchase the token, you should know that there are several crypto exchanges where you can do this. PLA coin is currently traded on crypto exchanges such as Binance, Bitget, Bitrue, and BingX. To buy it, you should access one of these exchanges and follow the steps to become a member.