PlayDapp

What is PlayDapp (PLA)?

PlayDapp (PLA) is one of the many entertainment and gaming ecosystems within the blockchain landscape. The platform seeks to increase the accessibility of virtual assets by turning non-cryptocurrency gamers into blockchain gamers through its services.

Concept and Origin

PlayDapp was launched in 2017 and is based in Seoul. The platform’s underlying concept adheres to a P2E (play-to-earn) model, and to that end, it offers a C2C (consumer-to-consumer) marketplace that comes with multichain support, a diverse gaming portfolio, and is something that players can use to trade in-game characters and items.

Market Positioning

According to CoinGecko, its market cap dominance for its token is around 260, which means that it is a bit far behind in terms of its position in the market. However, that could be because its token is part of a niche category that has yet to gain momentum.

Since 2021, Coin-Labs.com has partnered with Bybit and is few of the highest-ranking of affiliate program contracts.
Therefore, if you sign up for Bybit through the button above, you will get the most discounted fee benefit and participation in a bonus event offering up to $500.

How Does PlayDapp Work?

PlayDapp functions as a decentralized gaming network that allows multiple distinct games to engage with each other. The two primary components that help everything work together in its ecosystem are the C2C Marketplace and the PlayDapp SDK.

Blockchain Mechanism

PlayDapp comes with its own software development kit (SDK).

With this, it seeks to serve as a bridge between Web2 and Web3 by connecting blockchain mechanisms with mainstream video games. This can ease the situation for developers who have been having a hard time integrating blockchain solutions.

Gaming Ecosystem

As stated earlier, PlayDapp features a P2E model. Through it, PlayDapp attempts to bring in engaging blockchain-based games, rather than simple, boring, and monotonous games, within its gaming ecosystem, along with tournaments and certain elements pertaining to the metaverse.

Key Features of PlayDapp

What are some of the primary features of PlayDapp that we haven’t already mentioned? Let’s take a brief look at some of them.

Gaming Marketplace

PlayDapp offers a gaming marketplace that enables users to use gaming items that can be interchangeable and are not restricted to one particular intellectual property, game, or even location. With that, PlayDapp provides an interoperable marketplace, as users can readily trade characters, accessories, and products.

NFTs

Naturally, since PlayDapp is a blockchain-based gaming platform, it will feature NFTs. However, these aren’t just any NFTs. Sometimes you may even find third-party items from Web2-based games as NFTs. This is because, through the PlayDapp SDK, developers can easily convert their gaming items into NFTs (non-fungible tokens).

Player-to-Player Interactions

Due to how interoperable the experience can be through its C2C marketplace, player-to-player interactions can be a lot more frequent and important here than on some other platforms within the space.

Games You Can Play

Here, we will now be focusing on the actual games that you can find here, as well as some of the upcoming games.

Popular Titles

A lot of the games within the P2E sector tend to be rather basic in features and design, i.e., lacking a proper, well-rounded selection. PlayDapp wishes to address this by featuring titles that cover various popular genres within the gaming sphere, like MMORPGs, battle royales, RPGs, and several coin-pushing games.

Its two most popular titles are likely League of Kingdoms and CryptoDozer.

Upcoming Games

While there has been no news regarding big upcoming titles, PlayDapp’s Game Oven features new games by developers every now and then. So, visit the site from time to time if you want to know more about any upcoming titles or new games being added.

Benefits of Using PlayDapp

Within this section, we will be looking at how PlayDapp may benefit the two essential groups that make up a gaming platform: the gamers and the developers.

For Gamers

Gamers have access to a wide library of games that they can not only play but also collect items from, earn from, and then sell those same items on marketplaces within the ecosystem. This is thanks to the concept GameFi has adopted, which adds a whole new economic element to the games.

For Developers

Developers have a set of tools at their disposal that they can use to create their own games and then later benefit from PlayDapp’s monetization schemes and interoperability.

Comparing PlayDapp with Competitors

Serving as a bridge between Web2 and Web3 platforms is a unique feature that sets it apart from many of its competitors. Additionally, PlayDapp’s incentivization schemes are capable of being appreciated by both developers and gamers alike.

However, its gaming selection can feel a bit lacking, even within the P2E sector, which itself generally lacks the quality commonly associated with conventional AAA titles or even indie titles. And unfortunately, despite the various services it offers, navigating between them isn’t seamless, as the experience lacks fluidity and navigational ease.

Is PlayDapp Safe?

Here, we will be taking a brief look at some of the security measures that PlayDapp has adopted to protect its users’ data.

Security Measures

The security measures that PlayDapp employs vary based on how sensitive the data is. These measures typically include the pseudonymization of data used for identification purposes, wherever it is possible. Encryption, technological and physical controls that restrict access to systems or services containing personal information, and maintaining the processes necessary to manage any potential security incidents, are all examples of PlayDapp’s security measures.

Community Trust

At times, the community behind the platform plays quite an active role in the upkeep of its ecosystem, like verifying assets and certain builds. Due to this, you can expect the community’s role in its services to impact their reliability or trustworthiness.

PLA Token

Within this section, we will be directing our attention to its native token, PLA, particularly its tokenomics.

Tokenomics

Currently, the token is trading at around $0.14. Its market capitalization is slightly over $80 million, its daily trading sits at a little over $4.3 million, and it’s fully diluted valuation is over $100 million.

As for its total supply, it seems to be capped at 700 million tokens, with over 560 million currently circulating.

How to Earn

You can earn PLA tokens by playing the games within its ecosystem or through staking.

Or, if you are a developer, you can be eligible for a cut of the transaction fees deducted from every trade and earn some PLA tokens that way.

Cash-out Process

Cashing out your rewards from this platform can be done with the click of a button, after which, all will be transferred to your wallet. However, from there, you might want to use exchanges that support the token to convert it to fiat and transfer it to your bank account.

How to Buy PLA on Binance?

If what has been mentioned so far about this platform has resulted in you wanting to buy its native token, then stick with us as we highlight how you can do so on Binance. 

Create a Binance Account

Creating an account on Binance is pretty straightforward. Simply click on the link below to utilize our special Coin Labs referral code and register your account. Add the information asked of you here, such as your email address, password, verification code, etc., to get done with registration.

KYC Verification Process

After registration comes the KYC process, which may take some time. While it is optional, you might want to complete it since having done so is required when dealing with larger amounts. So, go to Binance’s verification page, where you will have to fill in information about your identity, and then back it up with documentation.

Securing Your Account

This step involves setting up 2FA, which, like KYC, is optional, but you may still want to do it if you want to amp up your account’s security. So, download Google Authenticator, navigate to the Binance security page, and go through the steps that Binance outlines to set up 2FA for your account.

Depositing Funds

Now, you will have to deposit funds on Binance if you want to buy some PLA. To do that, head over to Binance’s deposit page and select the token and the network. Paste the deposit address that will be generated into an external wallet or exchange where you have stored funds, to complete your transfer.

Selecting PLA Trading Pair

Buying PLA tokens can be done in several ways. However, here we will be looking at how you can buy through spot trading. So, go to Binance’s spot trading page and search for a trading page that has the tokens you want.

Executing the Trade

On the spot trading page, choose the type of order, adjust the parameters, and place your order, which may take a while to fill depending on what you choose.

Withdrawing to a Wallet

Once you have bought some PLA tokens, the final step is to withdraw those tokens from Binance. To do that, go to its withdrawal page, choose the PLA token and the network for it, and enter your wallet’s address within the withdrawal field. Confirm the withdrawal and wait for it to be fully processed.

The Future of PlayDapp

The future of PlayDapp is linked to the future of P2E, or GameFi. If the sector as a whole is not doing well, then chances are it might not be doing well itself. Unfortunately, from what we have gathered, that is in fact the case for the sector, as many of the tokens involved have fallen significantly, including the PLA token, which is why the future of the P2E sector and this platform remains fairly uncertain.

Conclusion

The PlayDapp network is based primarily on the P2E concept, combining certain elements such as staking and NFTs with various gaming titles. Additionally, it also serves as a bridge of sorts between Web2 and Web3.

We Coin-Labs.com provides only objective information about PlayDapp.
Therefore, we are not responsible for the investment decision in PlayDapp and the resulting loss.

PlayDapp Basics

Here are some factors that investors should consider before investing in PlayDapp.

Cryptocurrency Features	PlayDapp (PLA)
Publisher or Developers
Headquarters (Registration Number)	Seoul
Symbol	PLA
Platform	Ethereum
Published Date (CMC Registration)	2024-04-12
Max Supply	700,000,000 PLA

Reliability Score of PlayDapp in 2024

These are indexes mesuring the investment reliability of PlayDapp conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 5 Exchanges
Number of Available Pairs Worldwide	84 Pairs
Market Cap of the Cryptocurrency	100,204,887 USD (Rank #344)

The table above shows the result of investment suitability evaluation for PlayDapp.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

PlayDapp Price

Here are the price and recent trading volume of PlayDapp. (Data of 2024-04-12 11:25:00)

Price Items	Price and Trading Volume of PlayDapp
PlayDapp Price	0.128 USD
Price Change 24h	-2.53%
Price Change 7d	2.98%
Trading Volume 24h	22,192,947 USD
Trading Volume Change 24h	37.20%

Cryptocurrency Metadata

You can check the development status and social media information of PlayDapp through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy PlayDapp

Here are the top ten world crypto exchanges where traders can buy PlayDapp in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Listed	https://www.binance.com/en/trade/PLA_USDT
Coinbase	Listed	https://pro.coinbase.com/trade/PLA-USD
Kraken	Listed	https://pro.kraken.com/app/trade/pla-usd
KuCoin	Not listed
Bitfinex	Not listed
OKX	Not listed
Huobi	Listed	https://www.huobi.com/en-us/trade/pla_usdt?type=spot
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Listed	https://www.gate.io/trade/PLA_USDT

Frequently Asked Questions