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  • Matteo Poole

PlayDapp - PLA

Updated: Jul 12

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PlayDapp market


What is PlayDapp (PLA) and how does it work?


PlayDapp (PLA) is a blockchain gaming platform developed with a focus on making digital assets more accessible and valuable, as well as a customer-to-customer (C2C) non-fungible token (NFT) marketplace. All games on the portal have been developed with a focus on interoperability, meaning that they can work across multiple blockchains such as Ethereum (ETH), Solana (SOL), and Avalanche (AVAX). In addition, users can increase the value of their in-game NFTs by levelling them up, strengthening and amalgamating them, and can then sell them on the marketplace for an increased price.


PlayDapp crypto has its own SDK, a set of developer’s tools, created to allow gaming developers to participate in the ecosystem easily, building their own games, and connecting their digital assets without needing a complicated integrations system. The digital assets are itemized as a blockchain-based NFT, and can then be interoperated on the different games for the PlayDapp crypto ecosystem. The more an item is requested and used in a specific game, its price will increase over time.



In essence, PlayDapp has a Play-to-Earn (P2E) model structure where game revenues get re-invested into the ecosystem. Game items can be earned by playing the game and are called core items; these can be exchanged with other players peer-to-peer or for game tokens, which can then be traded on exchanges for other cryptocurrencies. This item acquisition method also allows the developers to earn revenues via each transaction. The Dapp was developed by a team of over 70 developers, operators, and designers, all with several years of experience in crypto and the PC and mobile gaming industry.


PLA coin is the utility token of the ecosystem native to the PlayDapp, developed as an ERC-20 token, making it tradable and transferable on the Ethereum blockchain. PLA's primary use case is as a fungible token used for processing transactions. Game PlayDapp operations obtain the tokens through playing the game or purchasing them, and then using them for the processing fee of every transaction. PLA has a total token supply of 700 million, with an initial allocation of tokens going to investors, advisors, partners, and the team; the remaining part of around 100 million tokens, or 14.4%, will be distributed throughout the games ecosystem as a whole.

 

Coin Analysis

Last update 3/7/2022


PLA coin launched on Binance in late November 2021, and similar to many projects that launched during that period, it experienced a decline, as the market started going through a bear phase. PLA price started trading at around $2.4 and even saw a price increase over the first few days, reaching highs of $3.40.


However, this move was short-lived, and within a few days, its price level would move back below its initial listing price and fall significantly, finding support at $1.7 and then around $1.1. Following this initial drop, prices would fall once more and stabilize between the $1.1 resistance and the $0.75 support level. Again, this lasted for a few weeks, with PLA prices fluctuating and touching both levels several times.

PLA/BUSD weekly candles chart
PLA/BUSD weekly candles chart

At last, in May 2022, prices fell below the support level and found a new lower one around $0.33, and created a new range between this level and the previous support of $0.75. Currently, the PLA price is still within this range but closer to lower support. It’s early to jump to conclusions, especially given the current market conditions, but lower levels for PLA can't be excluded over the next few months.


PLA is available for trading on BmyBit.com dApp.


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PLA coinmarketcap

PlayDapp website

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