Is PlayDapp a Good Investment
PlayDapp is a blockchain-based gaming ecosystem that aims to make crypto assets more accessible to the public through crypto games. It also aims to lead the play-to-earn space. But is it a good investment?
The service provides a platform for users to trade gaming characters and content with a diverse portfolio of games and NFTs. It is a customer-to-customer marketplace. All games on the platform are interoperable and work across multiple chains like Ethereum, Avalanche, and Solana. Some of the games on the platform include Cryptodozer, Dozerbird, Dozertreasures, Homerun Challenge, and Along with the Gods: Knights of the Dawn.
PlayDapp SDK (Software Development Kit)
This is a developer's tool that helps developers and companies easily participate in PlayDapp’s ecosystem. It helps developers of companies struggling to build blockchain infrastructure to link their assets or digital items with straightforward system integration. When assets have been designated as blockchain-based NFTs, they can be exchanged with other games in the gaming ecosystem.
This is the native utility token of PlayDapp. It is an ERC-20 token and the primary payment method in its ecosystem. Gamers can use it to buy NFTs and other gaming items.
As of March 2023, the token is worth $0.2071, according to Coinmarketcap. It is ranked the 244th largest cryptocurrency globally, with a live market cap of $137,944,484.
If you are considering investing in the token, it is listed on several crypto exchanges, including Binance, Coinbase, Bitrue, and BingX. It can also be earned by participating in prize events; developers earn tokens after each in-game purchase or trade.
The tokens have a max supply cap of 700,000,000 PLA coins. There are currently 537,855,941 in public circulation.
PLA entered the crypto market in October 2020, priced at $0.17. It, however, struggled to break through $0.20 for the remainder of the year.
2021 was a good year for the token. On 17 February, it hit its first high of $0.73. The price appreciation was attributed to the launch of CryptoDozer, the first game to be launched on the platform.
It continued to enjoy a bullish run and reached several highs in the following months.
Again, its price highs were attributed to announcements including its plans to go into the NFT sector and Metaverse.
On 8 July, PlayDapp launched its second game, the Dozerbird, on the Google Play store Japan, which again helped with token price appreciation.
On 31 October, 2021, the token experienced its all-time high of $3.68, attributed to the launch of the game "Along with the Gods: Knights of Dawn" in 170 countries and a new NFT auction feature. Despite its good start, PLA ended 2021 worth $1.43.
The token began 2022 trading at $1.43. However, by the end of January, it was worth $0.9292. In early February, it traded above $1, only to be worth $0.9694 by the end of the month. By 25 March, it was up to trading above $1. The last time it traded above $1 in 2022 was 6 April, when it was $1.11.
It began 2023 worth $0.1342. By the end of January, it was worth $0.2274. Considering its current price, the token has been showing some noteworthy price appreciation.
Is PlayDapp a good investment?
Is PlayDapp a good investment option? There are many reasons to answer 'yes'. Firstly, it is an ambitious project that continues to make strides to realize its goals for the gaming community. Since its launch, it hasn't experienced any worrisome setbacks.
Secondly, it’s backed by a great team of developers, operators, marketers, and designers. Sang Chung is currently the head of business of the company. He previously worked at NCSOFT, a world-leading gaming publisher.
Donny is the company’s head of development. He joined PlayDapp with close to 20 years of experience in the IT industry. Kai is the company's head of tournament. He is another veteran in the Korean Gaming industry.
It has also entered many strategic partnerships that continue to help grow its user base and offer more services to gamers. The project has, for example, signed strategic partnerships with IPX (formerly Line Friends), a digital IP platform, JBD entertainment, Hancom Inc, Redbrick, and KB Kookmin Card.
The latest news reveals that the gaming ecosystem bought ProudNet, a renowned peer-to-peer server network provider, to enable it to tap into the US gaming market.
As for the PLA token, several crypto prediction platforms view it as a good long-term investment option.
Bitcoinwisdom predicts the token might trade at an average price of $0.367555 in 2023, $0.577615 in 2024, $0.841534 in 2025, and $1.10 in 2026. Those who hold the tokens even longer might see them trade at an average price of $2.47 in 2031, according to the prediction site.
Technewsleader predicts PLA might trade between $0.37 and $0.41 in 2023, $0.54 and $0.64 in 2024, $0.77 and $0.93 in 2025, and $1.08 and $1.33 in 2026. The site predicts that the longer you hold on to the tokens, the better it may be. According to the site, the tokens might trade between $4.38 and $5.36 in 2030.
According to Priceprediction, PLA tokens might trade at an average price of $0.36 in 2023, $0.50 in 2024, $0.73 in 2025, and $1.02 in 2026. Those who hold to the tokens even longer might see them trade at an average price of $4.89 in 2030, $6.96 in 2031, and $9.92 in 2032, according to the site.
Not all platforms predict a promising future for PLA tokens. WalletInvestor, for example, argues against investing in the tokens. According to the site, PLA might trade at an average price of $0.02 in 2023 and 2024, $0.03 in 2025, and $0.01 in 2026. The tokens have no possibility of ever trading above $1, according to the site.
Is PlayDapp a good investment? It is a great project that looks to revolutionize the gaming industry. So far, it has lived up to many people's expectations, making it worth looking into.
Its native utility token, PLA, also stands out as a cryptocurrency worth paying attention to. Several crypto prediction platforms view it as a good long-term investment option, despite its current market price.
Before investing in any crypto project or asset, always do your research.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.