In a world where virtual games are no longer seen as just a way to kill time, decentralized gaming seems to have ushered in a new era. From exciting visuals to next-generation technology to attractive rewards, including cryptocurrencies, web3 has a lot to keep gamers busy. While options like Decentraland and MultiversX have been quite popular as play-to-earn (P2E) platforms, innovative projects like DigiToads enable crypto users to explore another side of decentralized gaming. DigiToads is a meme coin and blockchain-based gaming portal rolled into one platform.
DigiToads: a multi-faceted cryptocurrency
DigiToads has a decentralized finance (DeFi) mechanism that promotes users’ interests and has the potential to revolutionize the blockchain ecosystem. DigiToads enable crypto users to diversify their portfolios while exploring multiple income-earning opportunities by combining a meme coin with a play-to-earn platform. With DigiToads, users can stake non-fungible tokens (NFTs), earn rewards, participate in competitions, and play games. Its native token, TOAD, will function as the primary cryptocurrency on its network.
The platform organizes monthly trading competitions and rewards Platinum Toads to the winner. With a Platinum Toad, a user can gain remote access to a 1/12th of the treasury fund. To win in one of these competitions, a user has to register the highest trade volume in a month. As an incentive for expanding the treasury, the winners also get to keep 10% of the profits they brought in.
If you want to participate in the DigiToads game, you can start by purchasing digital creatures called “DigiToads.” You can also trade them. Every DigiToad comes with a set of characteristics that can help you improve your chances. Using your TOAD tokens, you can buy food, potions, and training equipment for your DigiToad. 25% of the highest scorers are declared winners at the end of every DigiToad season, which lasts a month. The winners get TOAD tokens as a prize.
Another opportunity that DigiToads offers is its staking mechanism. Users can stake NFTs on the platform and earn rewards. The rewards earned will depend on staking time. The platform will reserve 2% of all TOAD transactions to maintain the staking pools. The strategy ensures that the staking pool is always flush with funds and that users are rewarded regularly.
Create and monetize 3D experiences with Decentraland
Decentraland is built on Ethereum and is a virtual reality platform that allows users to create and monetize content and dapps. Launched in 2017, Decentraland has a native token called MANA which can be used to purchase avatars, wearables, names, and much more. The platform’s native token can also be used for purchasing virtual properties as NFTs. Its governance system is based on the decentralized autonomous organization (DAO) model. MANA holders vote on key operational issues like smart contracts and the creation of new assets.
MultiversX is a decentralized platform for building user-friendly dApps for the metaverse. Its native token EGLD is used for all transactional uses and for securing platform voting rights. To help its community members learn new skills, MultiversX offers users guides, tutorials, and documentation on building dApps. It’s quite popular among developers as it is scalable due to adaptive state sharding. Adaptive sharding allows for the merging of shards and real-time splitting as the size of the network grows while scaling.
Despite Decentraland and MultiversX’s popularity over the years, they still need to catch up to DigiToads regarding functionality. As such, investors can consider DigiToads if they want exposure to crypto assets. Experts are positive about TOAD’s prospects, believing it can be one of the best cryptos to invest in 2023.
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