PlayDapp price prediction: Bullish sentiment for gaming token

• Updated

Forecasters are hopeful over PLA as it plans on co-creating a metaverse with Samsung C&T

The PlayDapp landing page                                 
Game developers can use PlayDapp’s software development kit to convert their games to a play-to-earn model – Photo: Alamy
                                

Contents

The play-to-earn model has taken the gaming world by storm. Game players are suddenly being rewarded with items and currencies with real worth. PlayDapp wants to keep this momentum going.

Its portfolio of games is currently made up of four titles, including the role-playing game Along With The Gods and the arcade-style CryptoDozer

The PLA token has also enjoyed some success as it adds more games and functions to its growing collection.

In mid-June, the protocol garnered plenty of attention at the Consensus 2022 Conference after announcing a venture with Samsung to create a Metaverse Virtual World. Other recently announced plans include Homerun Challenge (a new play-to-earn baseball game) and a key update on its partnership with IPX, formerly Line Friends. So what is the latest PlayDapp price prediction?  

What is PlayDapp (PLA)?

PlayDapp, headed by Brian Choi, who is based in South Korea, is on a mission to bring crypto gaming to the masses. Through its portfolio of different play-to-earn games, it is hoping to attract a wide range of users. The team at PlayDapp is focusing on interoperability across its portfolio to achieve this.

Its customer-to-customer marketplace is at the core of its cross-game goal. Users are able to trade and purchase different NFT items across its gaming portfolio. For example, a player could sell characters from the PlayDapp Town game and buy buildings for its League of Kingdoms game.

PlayDapp is also hoping to spearhead the play-to-earn revolution through its software development kit. Developers of any standard game can use the software to convert their game to a play-to-earn model.

Its white paper said: “This can create synergy between games and facilitate user acquisition through cross-promotion. In particular, the value of NFTs can be increased by increasing the usage of the game items.”

The PLA token

PLA is what powers PlayDapp’s wide-ranging games. It is an Ethereum-based token that acts as the main payment method for the ecosystem. Gamers can use PLA to buy NFTs, and can also earn the token by taking part in reward events.

PlayDapp is also using the PLA token to encourage developers. Its website says: “Game DApp operators or developers receive PLA upon each in-game purchase or trade, after a reasonably small transaction fee is deducted by PlayDapp.”

PLA’s past performance

PLA kicked off its journey around $0.17 at the end of October 2020. It then struggled to cross the $0.20 barrier for the rest of the year.

The token saw its first major rally in early 2021, as it hit $0.90 on 17 February. This was after CryptoDozer, the ecosystem’s flagship game, went live on Japan’s Google Play Store. Rather than use Ethereum, PlayDapp decided to go with the LINE blockchain to power its game, citing gas fees and NFT creation times as the core reasons behind this choice.

PlayDapp said in a press release: “CryptoDozer, with its classic coin-push gameplay and candy-inspired design, is an arcade collection game where players can collect over 30 dolls and then, through doll combinations, create NFT DozerDolls, altering gameplay.”

It continued this momentum into the following months. A partnership between PlayDapp and the social gaming platform Ludena Protocol was revealed in April. Owners of NFT items from the Ludena Protocol were able to trade them for PLA tokens. The gaming token hit $0.9914 on 5 April 2021, a new price record.

After settling over the next few months, PLA saw another rally in August 2021. A new game called DozerBird launched on the Google Play Store in Japan. PLA managed to climb above the $1 barrier after this was revealed.

It surged even higher in October 2021 when it activated the play-to-earn function of its Along With The Gods game. Users could earn PLA by completing daily missions and staking their NFTs. By the end of the month, the token reached its all-time high of $3.68.

It came close again in November 2021 after PLA was listed on the Binance exchange. It was listed with four pairings: BNB, BTC, BUSD and USDT. PLA climbed to $3.50 on 23 November, the day the listing went live.

The following months saw PLA lose these gains. It had dropped below the $1 mark by the end of January 2022.

The token rallied again after it announced the signing of a memorandum of understanding with Samsung C&T, the construction parent of electronics company Samsung. The two organisations were teaming up to create a theme park metaverse called Everland.

On 24 March 2022, PlayDapp said in a press release: “The Everland Metaverse, to be created in the first half of this year, will feature 40 popular Everland attractions, including the wooden coaster T-Express. Together we plan to create a true metaverse that encompasses the real and virtual worlds by creating the easily recognisable content of Everland.”

Despite multiple market-wide crashes that saw PlayDapp trading at a low of $0.29 on 18 June, the token has gained some momentum.  By 1 August 2022, PlayDapp was sitting at $0.4255.

PlayDapp’s market cap as of 1 August was $181m, making it the 148th biggest crypto by that metric.

PlayDapp price prediction

Some forecasters suggest PLA has the potential to continue breaking price records over the coming years.

WalletInvestor’s PlayDapp coin price prediction describes it as a “bad long-term (one-year) investment”. The site estimates the token could fall to $0.05 in a year’s time.

One of the most bullish PLA price predictions comes from Gov Capital. It optimistically suggests the token could surge to $2.95 in a year, and pass the previous all-time high towards the end of August 2023. Its PlayDapp price prediction for 2025 says the coin could hit $13.04 by the end of the year. In five years, it predicts, PlayDapp could rocket to $22.05.

Captain Altcoin says PLA will descend to $0.39 by the end of this year, according to its PlayDapp price prediction for 2022. The gaming token will have to wait until 2030 before it reaches $2.72.

DigitalCoinPrice also suggests this climb. Its PlayDapp crypto price prediction says the coin will reach a price of $0.65 in September this year. By 2027, it suggests, the gaming token will finally pass $1. Its PlayDapp price prediction for 2030 suggests it will reach an average of $2.08.

FAQs

There is a circulating supply of 423.4 million PLA, and a maximum supply of 700 million PLA.

It might be. Users can earn PLA by taking part in PlayDapp’s games and competitions. However, the token has lost about 90% of its worth since its all-time high in October 2021. PLA and other tokens can be volatile, so investors should never spend more than they can afford to lose.

Forecasters are hopeful over the future of PLA. Gov Capital thinks it can rocket to $22.05 in five years’ time. However, DigitalCoinPrice is more reserved and suggests it will not pass $5 in the foreseeable future.

Remember, price predictions are often wrong, so investors should always carry out thorough due diligence.

It depends. PlayDapp is gaining attention at the moment after it announced that it was helping Samsung C&T build a metaverse. Yet the token has shown a volatile past, so investors should be wary about purchasing more PLA tokens than they can afford to lose.

Further reading

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