Valuations level tanked to levels not seen in years following last year’s crypto winter. While sentiments have improved following deep correction, the focus is increasingly shifting to projects with tremendous long-term prospects. DigiToads (TOADS) is one project eliciting ...
Valuations level tanked to levels not seen in years following last year’s crypto winter. While sentiments have improved following deep correction, the focus is increasingly shifting to projects with tremendous long-term prospects. DigiToads (TOADS) is one project eliciting strong interest, especially from Near Protocol (NEAR) and Apecoin (APE) enthusiasts.
DigiToads Redefining NFT Staking and P2E
The increased focus on DigiToads has to do with the fact that DigiToads is on the cusp of redefining NFT staking and Web 3 gaming. In addition, the innovative project built on the Ethereum blockchain offers new ways for people to earn while investing in digital assets.
For starters, it has established a thrilling Web 3 game that takes play to earn (P2E) to a whole new level. In the game, players only have to acquire and nurture DigiToads by acquiring food and training equipment. The purchases will make the DigiToads the largest and strongest within the swamp arena while ensuring they acquire unique characteristics.
At the end of each gaming season, players earn TOADS token rewards on their DigiToads, the largest and strongest in the swamp arena. DigiToads has set aside 50% of all profits generated from purchasing in-game items to be used in rewarding players who play the Web 3 game.
There is also a trading competition that offers a new way of earning while embedded in the DigiToads ecosystem. The monthly competitions are designed to enhance trading volumes in the ecosystem while offering an opportunity for people to walk away with Platinum Toads as rewards.
One of the reasons why DigiToads is trending and attracting interest from Near Protocol and Apecoin enthusiasts is due to its push to make it easy for people to earn some passive income through staking. As a result, it has established an NFT staking platform to reward users who stake their non-fungible tokens.
The project is also committed to supporting the environment by setting aside 2% of all transactions in the ecosystem to go toward charitable organizations. The amounts will mostly target projects looking to enhance the replanting of trees and conservations of the rainforest.
TOADS is the network native token that will offer holders an opportunity to play the Web 3 game and participate in the trading competition. Its total supply is capped at 585 million to limit inflation. There is also a token-burning mechanism that will limit supply over time, making TOADS a deflationary token.
Apecoin Growing DeFi Opportunities
Apecoin has had an impressive start to the new year going by a 14% gain of its native APE token. The impressive performance has to do with the project’s community-driven initiatives that seek to enhance how people engage with decentralized finance.
A strong liquidity pool has helped protect APE tokens from wild swings in the market. The liquidity pool requires people to lock in their tokens for 90 days, averting any unnecessary sales. The 90-day lock-up period ensures the liquidity pool is stable and thus not susceptible to wild swings.
In addition, the adoption of APE as the primary token for new products on Yuga Labs has added another utility layer. Given the growing Bored Ape Yacht Club NFT popularity, APE continues to elicit strong interest.
Near Protocol Developer Friendly Edge
Near Protocol is one project that survived the crypto winter of 2022 and is already up by more than 60% for the year. Its resilience has to do with its user-friendly and developer-friendly approach that has seen the project emerge as a developer’s haven.
Developers are increasingly flocking to the platform to leverage popular languages like Rust and Assembly to develop smart contracts and decentralized applications. The result has been an uptick in NEAR token demand, therefore, pushing its price up the charts.
Bottom Line
DigiToads is a unique project with solid long-term prospects thanks to its unique Web 3 gaming experience likely to attract more people into the ecosystem. Its growing prowess around NFT staking explains the strong interest that has seen the project raise more than $1.7m in presale. Additionally, growing utility around play to earn, and NFT staking affirms the meme coins’ long-term prospects.