Proof of Play’s highly anticipated crypto game, “Pirate Nation,” has made a splash with a token listing on major exchange Coinbase mere days after its launch. This move signals a potential turning point for the burgeoning web3 gaming industry.
The game’s native token, PIRATE, is an ERC-20 utility token built on the Ethereum blockchain. According to a statement from Proof of Play, PIRATE serves as the backbone for in-game transactions and rewards within the free-to-play pirate-themed RPG. Launched last Thursday, the token saw a meteoric rise of over 90% within a few hours, reaching $0.28 by the afternoon, as reported by CoinGecko.
This rapid adoption is likely fueled by the backing of prominent players in the crypto and gaming spheres. Proof of Play, led by FarmVille co-founder Amitt Mahajan, secured a significant $33 million seed funding round last September. The round saw participation from heavyweights like a16z crypto, Anchorage Digital, and angel investor Naval Ravikant.
“The core principle behind the PIRATE token is to enhance the overall experience of ‘Pirate Nation’ by integrating it within the game’s framework,” said Mahajan in a statement. “We’re thrilled to introduce features that not only add utility but also reward our dedicated player community.”
Also Read: Coinbase Makes a Power Move: VeChain (VET) Added to its Roadmap
This focus on rewarding players aligns with Proof of Play’s larger vision of creating a recognition system within their ecosystem. “We believe Proof of Play points serve as a valuable tool to acknowledge and incentivize players for actively engaging with our games,” added Mahajan.
The listing of PIRATE on Coinbase marks a significant development for the web3 gaming landscape. With established titles like “Shrapnel” and “Illuvium” vying for player attention alongside more casual, Telegram-based games like “Hamster Kombat” claiming millions of users, the industry seems poised for explosive growth. “Pirate Nation’s” early success suggests a future where blockchain technology and traditional gaming seamlessly converge to create engaging and rewarding experiences for players.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
