PlayDapp (PLA) is an attempt to take blockchain games mainstream. To explain, they claim the PlayDapp service allows people to play blockchain games without cryptocurrency.
Hence, users will have to buy cryptocurrency or get a cryptocurrency wallet to play blockchain games. Instead, users will trade characters, keys, pets, and items through a customer-to-customer C2C Marketplace.
Trading does not require cryptocurrency. On a C2C Marketplace, customers trade with each other. For example, PlayDapp’s C2C Marketplace allows players to trade game characters and weapons.
However, users can get more leverage on the platform by using popular cryptocurrencies such as Ripple (XRP), Ethereum (ETH), and Bitcoin Cash (BCH).
Taking Games to the Blockchain
PlayDapp’s developers claim you can convert any existing digital game into a decentralized application (dApp) by installing the PlayDapp software development kit (SDK). To explain, a dApp is an application or algorithm that operates on the blockchain.
Hence, they claim PlayDapp can convert any game into a blockchain game. Theoretically, the PlayDapp SDK could allow popular, massive multiplayer online roleplaying games (MMORGs) such as Fortnite or League of Legends to operate on the blockchain.
Currently, PlayDapp offers nine games including the Asta MMORPG, the Along with the Gods: Knights of the Dawn, and Blade Waltz Mobile Online Role-PLaying Games (MORGs). Other PlayDapp titles include CryptoDozer, DozerBird, Dozer Treasures, Like Squad, Playz Escape, and Town Avengers.
Individuals can buy and sell characters on PlayDapp’s C2C marketplace with Ethereum (ETH). The C2C Marketplace serves as a gateway to PlayDapp’s PlayDappLand metaverse. There is also a Polygon PlayDapp Marketplace.
What Value does the PLA Token Have?
The PLA is PlayDapp’s native token. PlayDapp (PLA) is an Ethereum Request for Content (ERC20) cryptocurrency.
The PLA acts as the fungible token for processing PlayDapp transactions. PlayDapp will pay game dApp developers with PLA. PlayDapp makes money by charging a small fee on each transaction.
Mr. Market thinks PlayDapp (PLA) has some value. For example, PLA was CoinMarketCap’s 161sth largest cryptocurrency on 5 April 2022. CoinMarketCap gave PlayDapp a Coin Price of $1.08, a Market Capitalization of $390.791 million, a Fully Diluted Market Cap of $753.686 million, and a 24-Hour Market Volume of $25.417 million on 5 April 2022. They based those numbers on a Circulating Supply of 362.829 million PLA, a Maximum Supply of 700 million PLA, and Total Supply of 700 million PLA.
I think Mr. Market fairly prices PLA because PlayDapp offers a product for which there is a high demand. That product is games, in particular MMORPG’s. Some MMORPGs attract large numbers of players.
For example, World of WarCraft had 117.87 million total players on 3 April 2022, MMO-Population estimates. However, only 1.12 million of those players were active on 3 April 2022.
In contrast, most played MMO on 3 April 2022 was Lost Ark with 1.52 million active players. Overall, Lost Ark had 17.79 million players.
I think there is a market for PlayDapp’s product. I think PlayDapp could make money from blockchain games. Consequently, I view PlayApp (PLA) as a cryptocurrency, and DeFi (decentralized finance) solution speculators need to watch.