Traders turn to Dogizen as Catizen and Hamster Kombat tank

Faucet-to-earn cryptocurrencies like DOGS, Hamster Kombat, and Catizen have had an underwhelming efficiency after their airdrops. Hamster has already plunged by over 50% from its highest degree final week, whereas DOGS and Catizen have finished a lot worse.

The identical is true amongst different high tokens within the business, together with Notcoin, AveCoin, and Pixelverse. Now, merchants are turning to Dogizen, one of many fastest-growing gamers within the Telegram tap-to-earn business.

Most tap-to-earn tokens have flopped

Faucet-to-earn has turn into one of many fastest-growing industries within the blockchain business. For instance, Hamster Kombat has moved from nothing right into a vibrant ecosystem with over 300 million customers globally.

Catizen, a Telegram mini-game, has accrued over 40 million gamers whereas DOGS and TapSwap have over 70 million customers.

These video games have turn into extremely standard for 3 important causes. First, they’re all straightforward to make use of, with no set up or console required. All one wants is a smartphone with a Telegram software put in.

Second, not like conventional play-to-earn ones like Axie Infinity and Decentraland, these video games are quite simple to play. For video games like Notcoin and Hamster, all you should do to earn tokens is to faucet a button and accumulate new tokens. You may as well make extra tokens by simply following their social media accounts and doing easy duties.

Third, these video games are straightforward methods for folks to earn cash because the tokens might be transformed into fiat currencies after their airdrop.

The problem, nevertheless, is that almost all of those tokens have flopped after their airdrops, costing gamers tens of millions of {dollars}. Notcoin’s market cap has dropped from over $2.5 billion to beneath $800 million, whereas Hamster Kombat’s valuation has slipped from $700 million to beneath $400 million.

A possible purpose for the sell-off is their tokenomics, future dilution, and merchants who’ve exited their positions. For instance, Hamster Kombat has 64.3 billion tokens in circulation towards a most restrict of over 100 billion. Which means that holders can brace for extra dilution within the subsequent few years. Additionally, Hamster’s avid gamers solely acquired 60% of all their holdings.

Dogizen would be the first ICO in Telegram

Dogizen goals to be one of the best participant within the Telegram business. For one, it is going to be the primary Preliminary Coin Providing (ICO) on the ecosystem.

It’s a dog-themed social sport that has accrued over 1.3 million customers and over 393k each day customers, making it one of many fastest-growing gamers within the business.

Dogizen is aiming to learn from the rising recognition of dog-themed belongings like Shiba Inu and Dogecoin. It’ll additionally profit from the continued demand for tap-to-earn platforms.

Not like Hamster Kombat and Catizen, the builders have created extra instruments to make sure that it does effectively after the airdrop.

For instance, it would have a community-driven launchpad, permitting third-party builders to construct Telegram video games.

Dogizen additionally has a full gaming arcade, which is able to add extra options and video games within the ecosyste. It additionally has a Dogizen SDK, which is able to give builders an opportunity to construct and launch video games, together with different tap-to-earn platforms,Dogizen’s Preliminary Coin Providing will begin on Friday. It’ll have 1 trillion tokens, with 40% of them going to the neighborhood. You’ll be able to study extra in regards to the Dogizen ICO right here.

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