You would have noticed that during the last couple of days DPET which is the native token of MyDefiPet project is trending on Coingecko. In this article I will be covering why this game is suddenly getting so much attention, why is the price of it’s token pumping so hard and why I am so bullish on this project.
What Exactly is MyDefiPet?
It is a NFT based game where you can level up your pets by feeding them food that you grow on your farms. Currently they don’t have the gaming options enabled and it is expected to be launched sometime in August ’21. Right now you can only collect the NFT based pets by purchasing Eggs which can be hatched to generate a random monster character.
Each egg costs 3 DPET tokens and each token is currently trading for about $2, so that makes it about $6 per NFT.
Complete details about the gameplay have not yet been shared. It is expected that the marketplace where you can trade your NFTs will be active in a few weeks and soon after that the gameplay would be launched through which you can expect to earn rewards depending on the strength of your NFTs.
So far the only detail they have shared about the games is that there will be regular seasons with prizes worth over $100,000 to be given out each season.
It currently looks like a cross between Axie and Farmville.
Why is it’s DPET token pumping so Hard?
DPET token gained over 250% during the last couple of days and looking at the discussions in their Telegram group it appears that they already have a huge fan-base in south-east Asia specially in Philippines and Vietnam.
The main reason for is that Axie has a cult following in Philippines and many people feel they were too late to the party with Axie and they want to be an early adopter with MyDefiPet.
This of course is quite a risky situation as due to the mad rush by people to buy early the price of token has appreciated too much without even a marketplace being ready for the NFTs and there is no clarity at this stage about what kind of earning scan be expected from this game.
Why am I so Bullish on MyDefiPet?
If you would have read my last set of articles you would have noticed that these days I am focusing mainly on NFT based games. My reasoning for this is that I expect this niche to outperform all other areas in crypto. This is due to the fact that if the game is engaging it provides an additional incentive to the users to keep Hodling their tokens and NFTs. If its just a coin then investors start getting restless after a point if the project is not performing as per their expectations.
During last few months there has been an explosion in new NFT games popping up every other day as people know the huge potential in this area and this got even more rampant after the popularity of Axie.
What attracts me the most to MyDefiPet compared to other competing NFT games is that they have given a lot of attention to the graphics and visuals. When you look at the 3D Monsters they have created they are much more visually appealing compared to the static NFTs created by majority of the projects. Also the gameplay designed is very engaging and addictive. You get used to the cycle of growing crops then feeding your Monsters then watching them grow as they evolve and if the gameplay is even half decent I am sure this is going to get wildly popular.
Let me know in the comments if you have tried this and want to share your experience so far.
Cheers,
SamBTC
