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The crypto market experienced one of the worst bear runs in its history. Investors have endured dire losses, but some reprieve could be on the way for those paying attention to play-to-earn (P2E) cryptocurrencies like the newly launched Tamadoge.
The reversal commenced last November after peaking near $3 trillion amid uncertain economic conditions, which saw investors offload risky assets. Unfortunately, a bullish reversal remains elusive amid questions of whether a bottom has finally been factored in.
For this reason, investors have been forced to seek alternative ways to make long-term gains other than buying Bitcoin (BTC).
Some of the best Play-to-Earn gaming NFT-powered crypto to consider this August are Tamadoge (TAMA), Decentraland (MANA), The Sandbox (SAND), STEPN (GMT) and Axie Infinity (AXS).
1. Tamadoge: A Meme Coin To Watch Out For In 2022
Tamadoge is a revolutionary meme coin incorporating NFTs in P2E games to create value. The token launched in July 2022, but its presale super hot.
The beta sale sold out ahead of schedule, selling 200 million TAMA tokens for $2 million in a little over two weeks.
Now a further 100 million tokens are being sold, but for the higher price of 1 USDT buying 80 TAMA. After that batch is sold, another 100 million go on sale, with the price rising to 1 USDT buying 66.7 TAMA.
In total 50% of the total supply of 2 million is available to investors in the presale.
Our analysis reveals that buying Tamadoge has the potential to match and even surpass the returns of meme coins like Dogecoin, Shiba Inu, Floki Inu and Dogelon Mars, among others. Hence, the need to book a spot in the presale before the price rockets.
Tamadoge will shake up Play-to-Earn and Meme Coins
The dynamics of the meme coin and P2E sectors are set to change drastically with the entrance of Tamadoge – a fun game with the power to charm non-crypto enthusiasts and gamers. At the core of the project are Tamadoge pets, aka NFTs. Tamadoge pets would be fun to hold because users can feed, play with and battle in monthly competitions to generate revenue.
Later, the team will launch the Tamaverse, a platform that will transform how people view and interact with partner metaverse projects. In this virtual world, Tamadoge pets will exist as rigged up animated 3D models, allowing seamless integration into other metaverse environments.
Of the remaining 1 billion tokens not in the presale, 400 million have been set aside to finance exchange listings, while 600 million will be minted over the next 10 years to finance development.
By the end of this year, the roadmap says the Tamadoge Petstore will be up and running, as will the battle leaderboard and the P2E leaderboard. Also, Q4 2022 will see the start of the first CEX listings – LBank exchange is already confirmed.
2. Decentraland Expands Its Horizon With play-to-earn and Metaverse Utilities
Decentraland (MANA) has been at the forefront of decentralization and P2E games since its inception almost three years ago. It is a virtual reality platform that executes on the Ethereum blockchain. Users in the Decentraland ecosystem can develop, test and even monetize applications.
The platform is one of the best user-managed protocols, incorporating all the features of a Decentralized Autonomous Organization (DAO). Decentraland’s popularity road the wave of interest in non-fungible tokens (NFTs) seen last year and earlier in 2022.
NFTs are currently at the project’s core – allowing creators to structure virtual Decentraland LAND and in-game items. The platform’s success saw the introduction of an autonomous marketplace powered by its native token, MANA.
Players generate revenue by building virtual properties, selling in-game items and engaging in other activities such as advertising. At the helm of the Decentraland ecosystem is a metaverse that makes it easier to interact with other players and build valuable connections.
Decentraland is largest player in Play-to-Earn with a market cap of $1.9 billion
Decentraland is the largest play-to-earn token boasting $1.9 billion in market capitalization –MANA has a total supply of 2,193,573,527 tokens, but only 1,810,761,525 tokens are currently in circulation.
According to real-time data from CoinGecko, Decentraland price has barely changed over the last 24 hours. A glance at the daily chart reveals that MANA will likely flip bullish if it closes the day above its immediate resistance at $1.12.
The technical outlook reinforces buy signals from the Moving Average Convergence Divergence (MACD) and the Super Trend indicator.
Decentraland has the potential to keep holding the reins as the most valuable P2E crypto considering its utilities and the bullish technical outlook.
Although MANA price is down 81.8% from its all-time of $5.85 in November 2021, it may recover to tag another historical high.
3. Axie Infinity Is On A Quest To Reclaim First Spot In play-to-earn
For a long time, Axie Infinity (AXS) stayed at the helm of the P2E segment in 2021. Its popularity spread like wildfire, bolstered by NFT game features. The platform’s complex gaming ecosystem exemplifies different levels of NFT rarity and utility.
Two utility tokens power the Axie Infinity blockchain; an in-game currency called Sweet Love Portion (SLP) and a governance token (AXS).
Axie Infinity’s stint at the top of the world of play-to-earn was significantly short. As the platform spread its wings, problems arose – with runaway growth taking center stage. Axie Infinity tokenomics came in for mounting criticism – an oversupply of SLP tokens culminated in massive losses. It became challenging for new players to buy NFTs and join the game.
Axie Infinity price was not spared the axe after tagging an all-time high of $164.90 in November. Since then, AXS has sloped 88.7% to trade roughly at $18.66. Despite the drop, Axie Infinity is trading 150x above its all-time low of $0.1237.
The Axie Infinity team is doing its part to keep the platform competitive. Recently it launched phase 3 of the Origin Season.
This phase comes with a variety of essential gameplay and economic updates. With this development in mind, Axie Infinity has the potential to create long-term value.
4. The Sandbox: From A Legacy Game To A Blockchain Giant
The Sandbox is a community-driven virtual world allowing players to build and monetize their unique gaming experiences and assets. On The Sandbox platform, players can access tailor-made tools to build captivating experiences.
Users use the main utility token, SAND, to take part in governing the platform via a DAO. Players are at liberty to create NFTs and sell them in the marketplace, supported by an efficient drag-and-drop process.
The Sandbox is one of the largest metaverse projects in the crypto industry. According to Ledger Academy, this massive virtual world is estimated to be worth $1.5 billion. The Sandbox metaverse executes on the Ethereum and Polygon blockchains.
Players are currently participating in The Sandbox Alpha Season, which will see the platform launch new P2E features. Live social events and new maps are some of the key features expected from the test drive.
The general downward pressure in the market continues to affect The Sandbox negatively. Over the last 24 hours, the token lost about 1.5% of its value to dodder at $1.32. The bear run in 2022 took a huge toll on SAND, with losses from its all-time high of $8.40 in November summing up to 84.2%.
On the brighter side, these losses are not unique to The Sandbox, which means that recovery will soon take precedence. SAND is among the top P2E crypto projects because of its revolutionary technologies and the team’s eagerness to innovate continually – making it a viable long-term investment.
5. STEPN: The Green Metaverse and P2E Token
STEPN became a gentle reminder to investors that scouting and investing in new crypto projects could give one a golden ticket to gain immensely with relatively small capital. Early adopters of the STEPN crypto project accrued over 31,000% in profits as the token rallied to $4.11 in April.
Unlike other P2E platforms, STEPN describes itself as a move-to-earn social-fi application. The Web3 app was built on the Solana network, a blockchain known for its high transaction throughput.
Move-to-earn is a relatively new concept with many similarities to play-to-earn, but the technology is distinguished by key elements like GameFi, SocialFi and NFT. In addition to playing games, users are rewarded for living healthy lifestyles.
STEPN is still relatively new in the industry but has achieved immense success emerge the top five among P2E projects. Like many of its peers, GMT plunged significantly over the last few months to trade at $0.96 – 76.4% from its record high of $4.11. As the crypto market readies to turn around, an investment portfolio with STEPN could perform incredibly well in the long term.
Conclusion – Tamadoge Has The Best ROI Prospects
Play-to-earn crypto projects are gaining popularity in the industry. The ultimate winner will be a project that values innovation.
Tamadoge is doing something different by building a coin that will appeal in equal measure to the casual gamer and the crypto diehards, so this is one of the best meme coin to buy right now.
The Tamadoge presale was scheduled to end on September 2, but it is selling out fast so you will need to be an early bird to beat the next price rise.
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