As introduced firstly of June 2024, blockchain gaming firm Proof of Play launched its PIRATE token on thirteenth June. PIRATE has gained early momentum – up 170% in someday – following listings on main crypto exchanges together with Coinbase, Gate.io, Bybit, and extra.
Extra considerably, though the token could possibly be claimed and traded instantly at launch – round 29,000 wallets have claimed to-date – 71% of claimed tokens have been staked again into the Proof of Play ecosystem. In return these holders are provided PoP factors, which function a reward to early supporters and customers of Proof of Play’s bigger community of video games and infrastructure.
To-date social RPG Pirate Nation is the one recreation launched by the workforce, however the plan is to make a number of video games, all powered by Proof of Play’s native Arbitrum-based Apex blockchain.
To this finish, customers who stake their tokens on the time of claiming them, get a +50% multiplier. 15% of the overall token provide was distributed in Season 1, and each three months, customers can declare an extra share of their allocation, with the workforce and traders ready for 12 months earlier than they’ll begin their claims.
Equally to Neon Machine’s SHRAP token, the workforce has additionally launched a “spend from stake” function, enabling PIRATE stakers to make use of their tokens with out having to unstake them.
Consisting of gaming veterans from Epic Video games, Zynga, EA, and Activision, Proof of Play is helmed by co-founder and CEO Amitt Mahajan.
“Our mission at Proof of Play is to create fun, accessible onchain games and, in the process, develop novel technologies that make onchain game development easier for everyone,” stated Mahajan.
“The single most important design principle of the PIRATE token is ensuring Pirate Nation is made better, and more engaging, through its existence, and we are excited to offer utility while rewarding our dedicated community. We believe that Proof of Play Points are a way to recognize & reward players for their participation in the Proof of Play ecosystem.”
Uncover extra about Proof of Play in our interview with CEO Amitt Mahajan, and be taught extra about Pirate Nation and its tokenomics through the sport’s litepaper.
