DPET is up by more than 200% this week, with its combination of NFTs and DeFi proving to be a winner so far.
First Tamagotchi, then Pokémon: digital pets have a history of capturing the hearts of both kids and adults in the gaming world. Now there’s a new kid on the block, and MyDefiPet brings a lot to the table. Combining aspects of gaming, decentralised finance (DeFi), and nonfungible tokens (NFTs), MyDefiPet and its DPET token have enjoyed success this week, rallying by 239% on the week.
Read on to learn more about MyDefiPet, and where to buy the DPET token.
How & where to buy MyDefiPet in the UK and elsewhere
While DPET is traded on many decentralised exchanges (DEXs), we usually advise that our users use regulated and reputable brokers and exchanges when investing in cryptocurrency. This helps to avoid regulatory issues and ensures the safety of your capital.
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What is MyDefiPet?
MyDefiPet is a blockchain-based video game developed by Vietnamese studio Topebox. Combining elements of DeFi, NFTs, and gaming, MyDefiPet allows players to collect digital pets, trade in-game items, and even battle against other players.
DeFi provides the means by which trade is conducted and in-game items are purchased: DPET tokens are used to buy eggs, bid on digital pets, and upgrade their existing creatures. DPET tokens can also be staked or locked up for voting rights. Players can vote on new features, settings, and items.
NFTs allows players to truly own their pets and items, which are represented as unique tokens on the blockchain. This application of blockchain technology to a tried-and-tested game blueprint brings the core features of Pokémon and Tamagotchi into the next generation of gaming and allows for unprecedented levels of in-game ownership.
Should I buy DPET today?
DPET’s price action has been very impressive as of late. Today has seen a 71% increase in price, and this week has brought about a 239% rally. It’s safe to say that DPET is in an uptrend, as its 2-week gains sit at an impressive 470%.
The chart above clearly shows a breakout from sideways price action and the beginnings of a persistent uptrend. This represents a potential “buy” signal for investors, as it arguably confirms an upward movement over a longer period of time. Furthermore, the fundamentals of MyDefiPet looks quite strong: the game is backed by several big studios and has grounds to become popular on the back of the DeFi and NFT trends.