As introduced in the beginning of June 2024, blockchain gaming firm Proof of Play launched its PIRATE token on thirteenth June. PIRATE has gained early momentum – up 170% in at some point – 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 sport launched by the staff, 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 full token provide was distributed in Season 1, and each three months, customers can declare an extra share of their allocation, with the staff and traders ready for 12 months earlier than they’ll begin their claims.
Equally to Neon Machine’s SHRAP token, the staff 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 enjoyable, accessible onchain video games and, within the course of, develop novel applied sciences that make onchain sport improvement simpler for everybody,” stated Mahajan.
“The one most essential design precept of the PIRATE token is making certain Pirate Nation is made higher, and extra participating, by means of its existence, and we’re excited to supply utility whereas rewarding our devoted neighborhood. We consider 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 study extra about Pirate Nation and its tokenomics through the sport’s litepaper.