Tamadoge, the Play-to-Earn games platform, has raised $16 million as it speeds towards selling out ahead of schedule.
The fundraise of more than $16 million beats the initial coin offering of Ethereum which ended in August 2014. Ethereum is the number two digital currency by market capitalisation.
Tamadoge’s presale has also comfortably beaten the $9.2 million that move-to-earn crypto STEPN was able to raise.
This latest milestone achievement is all the more remarkable given the current crypto winter in which the valuations of many digital assets have fallen considerably.
Meme coin that unlocks a breakthrough mass consumer game
A recent report found that venture capital investment in NFTs and gaming jumped by 66% in August, suggesting that the sector will be the first to recover from the drawdown in prices.
Tamadoge strengthens that view, showing continuing strong demand from investors for quality projects able to demonstrate business models with the potential to breakthrough as mass consumer products, not just niche crypto projects.
Tamadoge is building a play-to-earn gaming platform that centres on the Tamadoge Pet, which is reared from birth (minting) to adulthood, with players competing to climb the leaderboard by being the best parent or winning battles with other pets.
In its most recent partnership and in a statement of intent regarding its pitch to get onto the radar of casual gamers, Tamadoge has teamed up with Transak which is providing it with a fiat on-ramp. Visitors to the Tamadoge website can buy ETH directly with their credit or debit card and then swap it for TAMA.
Beta sale buyers have already rung up a paper return of 200%
The token is now entering its next phase in which the price has been rising each time, starting at 0.01 and ending at 0.03 (1 USDT = 33.33 TAMA).
Those early-bird investors who bought the token in the beta sale which began on 25 July have seen the price increase by 200%.
One billion TAMA tokens are available to investors in the presale, amounting to half of the total supply.
Unlike many other Play-to-Earn games’ economics, the TAMA token is deflationary, with a fixed supply and a 5% burning mechanism in place for purchases from the Tamadoge Petstore. The pet store is where players can buy food, clothes and other in-game assets for their pet.
Each Tamadoge pet is represented by a NFT and has its own unique traits.
In addition to the website-based 2D game going live before year’s end, a ‘Tamaverse’ will also be created in which a 3D avatar of the pet will live and play. An augmented reality viewer is being built into the app version of the game for launch in 2023.
An arcade of P2E games for all to play
The games platform will feature a P2E Arcade in which a variety of games will be on offer to players.
Tamadoge is designed from the ground up to be both fun and rewarding. Gameplay will be engaging and players rewarded for their skill, as opposed to just for doing repetitive and laborious tasks.
Rewards are paid in Dogepoints which can be converted into TAMA tokens.
The project already has deals lined up with centralised exchanges, even before the token sale has finished, so there will be no issues with trading TAMA straight from the get-go.
The Tamadoge ecosystem is one of a new breed of meme tokens that provides real utility to their users and that is likely at the root of its appeal to investors.
Who is backing Tamadoge? Elon Musk in the frame? Crypto’s first Britcoin
Tamadoge is thought to have the backing of significant movers and shakers in the crypto space and is seen by a number of analysts as a top emerging cryptocurrency.
Such is his love for Shiba Inu-branded meme coin crypto projects, it is not beyond the bounds of possibility that Elon Musk might be one of those backers.
With a team that is being built from talent across the globe, but with a number based in the UK, could this project be the first real Britcoin?
The latest addition to the team is senior blockchain developer Siphamandla Mjoli from South Africa. He has been active in blockchain game development for more than five years.
However, the rest of the talent pool hails from the UK. Neil Palethorpe is the recently appointed senior interaction designer. He is joined by Carl Dawkins, head of growth and Thomas Seabrook, lead game developer.
Carl Dawkins, head of product at Tamadoge, said: "We are bowled over by the success of the funds raised and are already hard at work building. We hope to have progress to share with our community soon after the sale completes.
"At Tamadoge we are going much further than any other so-called meme coin. We are developing a game that leverages Doge meme power to target the growing audience of gamers who want to have fun with an easy-to-understand format.
"They also want to be rewarded for the hours and hours they might spend on their pastime as they nurture their adorable virtual pet. Tamadoge is that game."
