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 may very well 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 supplied 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 sport launched by the crew, 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 additional share of their allocation, with the crew and buyers ready for 12 months earlier than they will begin their claims.
Equally to Neon Machine’s SHRAP token, the crew has additionally launched a “spend from stake” characteristic, 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 enjoyable, accessible onchain video games and, within the course of, develop novel applied sciences that make onchain sport growth simpler for everybody,” mentioned Mahajan.
“The one most necessary design precept of the PIRATE token is guaranteeing Pirate Nation is made higher, and extra participating, by way of its existence, and we’re excited to supply utility whereas rewarding our devoted group. We imagine that Proof of Play Factors are a option to acknowledge & reward gamers for his or her participation within 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 by way of the sport’s litepaper.
