What is PlayDapp gaming crypto? PLA token’s trading volume soars

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What is PlayDapp gaming crypto? PLA token’s trading volume soars

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 What is PlayDapp gaming crypto? PLA token’s trading volume soars
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Highlights

  • KRAFTON has lately announced its partnership with a blockchain network Solana
  • PlayDapp claims it enables the moving of existing games to blockchain technology
  • The PLA token of the project has appreciated lately, but it has also shown volatility in the past

There must be something about blockchain gaming that is seemingly drawing the interest of so many. The latest addition to the story is the coming together of KRAFTON and Solana. The former is popular for its PUBG game, while the latter is one of the leading blockchain networks.

How this partnership works out in the coming months is a wait-and-watch game. But the gaming and blockchain combination may remain one of the top trends in cryptos.

This may be because the combination has features like non-fungible tokens (NFTs), native tokens, and gaming verses, which many equate with metaverses or virtual reality. That aside, one platform seems to be already providing services to developers to help them take their gaming projects to blockchains.

What is PlayDapp platform?

PlayDapp claims to be a provider of a Software Development Kit (SDK) to users, enabling them to move an existing game to a blockchain network.

Also read: Bombcrypto game: How has BCOIN token fared so far in 2022?

A few games of the PlayDapp project include CryptoDozer and DozerBird. PlayDapp is a decentralized application or DApp, which states providing an SDK to infuse NFT features to a game as its primary service.

Claiming to be a participant in the play-to-earn space, which has players like Axie Infinity, the PlayDapp project is betting on its “interoperable NFTs”. The whitepaper mentions that users can access a “portfolio” of gaming content with their NFT holdings.

PlayDapp crypto (PLA)

The utility crypto token of PlayDapp, PLA, is based on Ethereum blockchain’s ERC-20 standard. The PLA token enables transactions within the PlayDapp ecosystem.

Also read: Can PancakeSwap (CAKE) token sustain its rally?

PlayDapp crypto price

Though not a large market cap crypto, PlayDapp is in the top 200 crypto assets on the CoinMarketCap list. As of writing, it had a market cap of over US$370 million. The token was trading at nearly US$1.

The price had gained over the past 24 hours, and so had the trading volume, which was up by over 500 per cent. That said, the PLA token reached a price of over US$3 in November 2021, but it fell to nearly US$0.7 in late-January 2022. Due to this volatility, PlayDapp crypto’s price prediction is not possible.

PlayDapp crypto price fluctuation

Data provided by CoinMarketCap.com

Also read: Is Grayscale’s new fund behind Cardano’s ADA recent rally?

Bottom line

As KRAFTON joins forces with the Solana blockchain, it may add more sheen to blockchain-powered games. PlayDapp is providing SDK services, and it has NFT features. The PLA token has risen sharply of late, but how it behaves in the medium-to-long term cannot be said with certainty due to the volatility the token has exhibited in the past.

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