Is Tamadoge another attempt to hype around Dogecoin or a nice novelty in the world of NFT games?

With the development of metaverses and the NFT sphere in general, there have been more and more projects in the NFT sector in recent times. Their objective is to earn money, however, not all games can boast of nice results and really good profit for users. The new project called Tamadoge, a Tamagotchi game inspired by the meme token Dogecoin, might be an exception, about which we will tell you.

What has happened?

After the news that Elon Musk has bought Twitter where he is going to implement the payment in DOGE, a meme crypto token, the project inspired by Dogecoin started growing right after DOGE, after which its price declined. As of October 29, the price of one coin Tamadoge, which is the name of the game, amounted to $0,022 and the quotation reached its peak on October 31 and was equal to $0,38, which means 72% growth. After this, the coin began losing its price and at the moment, its quotation amounts to $0,27, which is 29% less than the figure achieved 4 days ago.

What is Tamadoge?

So what is Tamadoge and what is interesting about it? The project was launched in July 2021 and is fully oriented to Dogecoin fans. This Play2Eaern game offers players to grow their own digital Shiba Inu dogs. They will be able to take care of crypto dogs and fight other players. Users will have to earn Dogecoin for all actions, which will allow them to compete in the monthly standings. Owners of pets with nice characteristics will be able to contest for the best places every month, which will allow them to earn additional bonus points. Besides, users can compete for the extremely rare Tamadoge images, which amount will be equal to 100,000 pieces.

During the period of decline of the NFT sphere, the PvP (player versus player) might bring P2E (pay and earn) to a new level, however, it is unknown at the moment whether the Tamadoge project will be able to achieve this.

Tamadoge and the possible connection with Elon Musk

The key feature of Tamadoge is an opportunity to earn meme tokens called Dogecoin, which are supported by Elon Musk. The last one purchased Twitter recently and the billionaire had been talking about the idea to implement the payment of premium accounts in this token before this event. He is especially dedicated to Dogecoin due to two obvious advantages, which detach DOGE from other analogs: a very high speed of transactions and a tiny commission fee, which is almost impossible to feel.

The emergence of Tamadoge

The project Tamadoge was launched in July 2022 and the presale of all tokens is over. The general sum of all sold tokens amounts to $19,000,000. Although the project has not started officially, the number of investors involved keeps growing and the majority of players join due to their interest in Dogecoin, which can be earned here. The start can be described as successful for sure and as a result, the management of Tamadoge has announced the listing of IEO (Initial Exchange Offering) on the cryptocurrency exchange OKX.

This turn of events has caused a stir around Tamadoge, which has involved big financial resources and raised prices pretty high. The initial investors of Tamadoge have earned seven times more money than they had invested in the early stages of the project. By the way, after listing on the exchange OKX, its price has doubled. Tokens of the P2E project can now be bought on other exchanges like BitMart, LBank, and MEXC. You will be able to trade these tokens on Binance later if the last ones approve the application for adding Tamadoge to their exchange.

Price

Now, Tamadoge’s popularity starts growing. As it was mentioned above, the crowdfunding was over and the NFT token attracted more than $19,000,000 during the presale stage. Investors who entered the market during the presale stage bought coins for $0.01. At the moment of writing the material, the price of Tamadoge amounts to $0,28, which is 2,7 times bigger than the initial investment. This growth has allowed the P2E game to place 2,679th on the list of the best cryptocurrencies, according to the main crypto market aggregator CoinMarketCap. The maximum price has reached $0,38, which allowed some people to earn almost 4 times more than their investments, however, the long-term investors do not fix their profit now. Analysts think that Tamadoge might reach the price of $0,05.

At the moment, the number of mined Tamadoge has surpassed 50% and there are 1,050,000,000 out of 2,000,000,000 circulating in the network. Half of them were sold during the presale stage and the rest 2,5% were mined while playing the Tamadoge game. 5% of all Tamadoge will be burned to reduce the rate of inflation and 45% of them will be blocked to create liquidity, so users could exchange Tamadoge on other currencies and vice versa without problems. The management of the project has decided to spend 30% of the generally collected money on marketing to attract more audience.

The advantages of Tamadoge

If Dogecoin has a pretty low commission fee, Tamadoge takes no money for the transfer at all, which attracts investors. Besides, the obvious advantages include the perspective of the price growing with the development of the project. If the token demonstrates such success during the early stages, the project might bring the initial investors a very good amount of money.

What can be expected from Tamadoge? The creators state that they want to achieve not just the opportunity to earn well in the game but the aesthetic pleasure received from the gameplay, for which users play games. They will do everything possible for this, so players will be able to have a fun time with their friends and enjoy beautiful 3D animations, and the NFT game will become addictive. The developers of Tamadoge want to make a step toward the world of metaverses. All users will be able to use their NFT tokens as their avatars to travel across the metaverse.

The disadvantages of Tamadoge

The fact that the project is relatively new can be related as a disadvantage now. On one hand, it provides a big opportunity for early investors to make a lot of money but on the other hand, no one has excluded risks. Many projects in the crypto industry are famous for administrators deciding to withdraw money after the decline of the interest from the audience, leaving investors without money. This is possible due to the absence of any regulation in many countries and illegal money laundering schemes. Every time users want to invest money, they should not forget about risks and the word “risk” is probably the main disadvantage of the Tamadoge project. Will it be an attempt to earn on the hype around Dogecoin or a really interesting project that will be developing and receiving the status of one of the cult Play-2-Earn NFT games? Time will tell.

What is next?

The developers do not want to stop on what they have now in terms of the game. Later, users will be able to try other arcade games, which will be created by the developers of Tamadoge inspired by Dogecoin. The owners of the project also want to integrate Tamadoge into different metaverses, expand their influence, and attract more financial resources.