Anyone who has been paying attention to the worlds of both gaming and NFTs would know that the P2E (Play To Earn) concept is becoming increasingly popular these days, and for good reason. Gaming has been an attractive form of passing the time for decades – the chance to earn money while playing is enticing.
With the innovations of non-fungible tokens, cryptocurrencies, and blockchain technology, now it is possible for online game participants to become part of in-game economies, especially with one of the various blockchain pay-to-earn games. Puppy Planet is one such game, the first of several P2E cryptocurrency games scheduled to be launched on ABEYCHAIN.
What is ABEYCHAIN?
ABEYCHAIN is among the world’s most rapidly growing blockchains, according to ABEY Foundation spokesperson Philipp Sauerborn. “The addresses which are being implemented onto the blockchain demonstrate how engaged and proactive the ABEY community truly is.” He added that a strong sense of community is usually what helps identify many projects as viable investments for the long term, and that ABEYCHAIN is no different as it strives to become, “… a perfect home for gaming creators and developers.”
Simply put, ABEYCHAIN is a prominent public chain that uses a hybrid PoW (Proof of Work) and DPoS (Delegated Proof of Stake) consensus that specialises in the development of decentralised apps, commercial use cases, and cross-chain interoperability.
ABEYCHAIN was also the recent recipient of the ‘Blockchain Solution of the Year’ award presented at the Europe AIBC Awards last month.
What is Puppy Planet?
Puppy Planet is a puppy-based GameFi offering on ABEYCHAIN, released on December 15th. Puppy Planet – developed by Puppy NFT Labs, domiciled in the UK – focuses on integrating decentralized finance, non-fungible tokens, and a GameFi ecosystem.
Blending Axie Infinity-style smart contract gaming advancements with the ability for game participants to buy, sell, and trade NFTs in its collectibles market, Puppy Planet gamers have opportunity to earn money by buying and selling NFT pets, and by mining the Puppy Planet native token (PUP) while playing the game. As ABEYCHAIN’s initial P2E game, it also marks the project’s first foray into the hugely trending metaverse.
Puppy Planet’s creators picked ABEYCHAIN largely due to the blockchain’s explosive growth. Over 20,000 active ABEY 2.0 addresses are being added every week, which has resulted in the blockchain now having more than 140,000 users.
Also of note, Puppy Planet’s native PUP token has been listed on XSwap, the decentralised cryptocurrency exchange based on ABEYCHAIN. Gamers can now trade their PUP for USDT and other recognizable cryptocurrencies through XSwap. ABEY’s wallet can be accessed via iOS as well as Android.
As of the game’s release the PUP token was trading around $1.25, an increase of nearly 1200% for early players.
Puppy Planet had early pre-release success with two PUP token presales along with another two ‘Blind Box’ offers selling out in advance of the game’s full release. Puppy Planet launched its initial PUP token pre-sale a couple of months ago on October 29th, 2021. At the time, 7,500,000 PUP tokens, worth a cumulative $500,000 USDT, all sold out in just 7 hours to 5,000 registered ABEY addresses.
The demand grew from there, with the second pre-sale of 1,200,000 PUP tokens valued at $100,000 USDT selling out in a matter of minutes. A side benefit of the ‘Blind Box’ sales was that with the sales Puppy Planet provided gamers with their first chance to obtain valuable, collectible game assets.
On November 13th, 2021, the first ‘Blind Box’ sale sold out in just fifteen minutes. A second ‘Blind Box’ auction on December 2nd, 2021 sold out in only ten minutes.
In those sales 5,000 total Puppy ‘Blind Boxes’ were sold – 3,000 of which were ‘Ancient Puppy Gacha’ and 2,000 of which were ‘Legend Puppy Gacha’. The 75 puppy images sold thusly will never be reissued again, therefore making them overnight valuable collectibles.
What to expect going forward
Puppy Planet’s P2E strategy is comparable to that of others who have gained traction in the GameFi ecosystem, a focal point of the blockchain sector in 2021. Users already signed up can continue buy and sell the PUP token, allowing them to interact with the Puppy Planet universe.
The plan later is for Puppy Planet to eventually release 180 million PUP tokens, 90 million of which will be used for game mining on farms and battlefields. 50% of the revenue from official store purchases will be reinvested as mining pool incentives. By engaging in PUP mining, gamers will have opportunity to earn income on a steady basis. If the price of PUP rises, so will player revenue – an added plus.
PUP tokens may also be utilized to purchase, sell, and trade non-fungible tokens, props, release earnings, and even hatch pets at a greater level than before. Taking part in the game’s governance is another benefit players enjoy. In Puppy Planet’s subsequent editions players will be able to buy ‘virtual real estate’, making the game even more fun, engaging, and profitable.