PlayZap

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Discover PlayZap's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is PlayZap?

PlayZap (PZP) is a BEP-20 utility token powering a skill-based competitive gaming platform focused on mainstream casual gamers. Built on blockchain technology, it offers a sustainable token economy and is powered by NFTs. The platform allows players to compete in various contests for crypto rewards in the native token and NFTs, providing a "Free to Play, Skill to Earn" experience.

How is PlayZap used?

PlayZap (PZP) is a utility token used within the PlayZap gaming platform. It is designed to facilitate various activities and interactions within the platform, including:

  1. In-Game Events and Tournaments: Players can acquire PZP tokens by participating in in-game events and tournaments, which are skill-based and competitive. These tokens can be used to access premium features and enhance gameplay.

  2. Staking: Users can stake their PZP tokens to earn rewards, with opportunities to earn up to 50% APY. This incentivizes token holders to lock their tokens for a specified period, which in turn reduces the circulating supply and potentially increases the token's value.

  3. Access to Premium Features: PZP tokens are required for full access to all features within the games on the platform. This means that players who want to utilize the complete range of features need to hold PZP tokens.

  1. Cross-Platform Experience: PlayZap offers a unified gaming platform across multiple devices, including mobile and web browsers. PZP tokens are used to connect and facilitate gameplay across these different platforms.

Overall, the PZP token plays a central role in the PlayZap ecosystem, enabling players to engage in various activities, access premium features, and earn rewards through staking and in-game events.

How do I store PlayZap?

To store PlayZap (PZP) tokens securely, it is recommended to use a cold wallet, which is a type of wallet that is offline. There are two main types of cold wallets:

  1. Paper Wallet: This is a simple, offline wallet created by generating a public and private key using a program. The keys are printed in the form of QR codes, which can be scanned for future transactions. The paper wallet is stored securely in a safe place.

  2. Hardware Cold Wallet: This is a physical device, such as a USB drive, where you can store your cryptocurrency. Only the person possessing the USB drive can access the assets. Hardware cold wallets are preferred by many users, especially for storing large amounts of coins or tokens.

How to buy PlayZap?

To buy PlayZap (PZP) tokens, follow these steps:

  1. Choose a Reliable Exchange: Select a trustworthy centralized exchange where PlayZap is listed. You can refer to Coinmarketcap.com's Markets section to find the list of exchanges that support PZP. Popular options include KuCoin and gate.io.

  2. Set Up a Crypto Wallet: Download and set up a crypto wallet like Trust Wallet, which supports the blockchain network where PlayZap operates. Ensure you keep your seed phrase safe and note your wallet address.

  3. Buy Base Currency: Purchase BNB Chain (BNB) as your base currency. You can do this on Binance. If you are new to Binance, refer to their guide on registering and buying your first cryptocurrency.

  1. Transfer BNB to Your Wallet: Withdraw the BNB from Binance to your Trust Wallet. Make sure to set the network to BNB Chain and provide your wallet address.

  2. Select a Decentralized Exchange (DEX): Choose a DEX that supports your wallet. For example, if you use Trust Wallet, you can use Pancake Swap.

  3. Connect Your Wallet to the DEX: Connect your Trust Wallet to the DEX using your wallet address.

  1. Trade BNB for PZP: Select BNB as the payment and PZP as the coin you want to buy. If PZP does not appear, find its smart contract address on BscScan.com and paste it into the DEX.

  2. Complete the Swap: Click the Swap button to finalize the transaction.

Alternatively, you can also buy PZP directly with fiat currency using services like Transak, which supports credit cards and other payment methods.

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History of PlayZap

PlayZap, a blockchain-based gaming ecosystem, was founded in 2021. The project focused on developing its core infrastructure and adding various games to its platform during its early stages. In 2021, the team established the competitive gaming MVP and tech infrastructure, followed by a pre-alpha release. The project also launched several games, including Rocket Blitz and Stack Ball, during this period.

In 2022, PlayZap released its whitepaper and tokenomics, marking a significant milestone in its development. The team also launched a cross-platform mobile app, which was later soft-launched and supported by over 25 venture capitalists and angel investors. The app was eventually launched globally, enabling blockchain and wallet-based operations.

In the first quarter of 2023, PlayZap integrated a non-custodial wallet and deployed it on the BNB Chain network. The project also concluded a successful private sale round and finalized its IDO partners during this period. Throughout its history, PlayZap has demonstrated a commitment to building a sustainable token economy and providing a seamless gaming experience for its users.

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How PlayZap works

PlayZap (PZP) is a cryptocurrency that operates within the PlayZap ecosystem, a community-driven gaming platform focused on skill-based tournaments and casual games. Here's how it works:

Native Currency and Utility Token
  • Native Currency: PZP is used as the native currency within the PlayZap ecosystem. Players can use it to participate in tournaments, buy limited-edition NFTs, and engage in jackpot matches with higher rewards.

  • Utility Token: PZP serves as a utility token, providing various benefits to its holders. It can be earned through in-game events, tournaments, or by staking, offering opportunities to earn up to 50% APY.

Staking and Passive Income
  • Staking: Token holders can stake their PZP tokens to generate passive income. This feature allows users to lock up their tokens for a specified period, earning additional tokens in return. The staking period and corresponding rewards vary, with options to earn 22% per annum by locking tokens for 270 days, 15% by locking for 180 days, and 11% by locking for 90 days.
Tokenomics
  • Total Supply: The total supply of PZP tokens is fixed at 150 million, ensuring a limited and controlled circulation of tokens.
Ecosystem and Partnerships
  • Gaming Platform: PlayZap offers a cross-platform gaming experience, allowing players to compete in skill-based tournaments and casual games. The platform has integrated an anti-cheat system to ensure fair play.
  • Partnerships and Listings: PlayZap has been listed on several exchanges, including KuCoin, Bitget, and Transak, making it accessible to users from over 160 countries. Additionally, it has received investments and support from KuCoin Labs and other prominent entities in the gaming and cryptocurrency space.
Token Acquisition and Storage
  • Acquisition: Users can acquire PZP tokens through in-game events, tournaments, staking, or by purchasing them on supported exchanges.
  • Storage: Tokens can be stored in a KuCoin account or in non-custodial wallets, providing users with flexibility and control over their assets.

Overall, PlayZap (PZP) is designed to facilitate a robust gaming ecosystem where users can engage in skill-based games, earn rewards, and benefit from staking and passive income opportunities.

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PlayZap's strengths

The token PlayZap (PZP) has several strengths that contribute to its potential in the gaming ecosystem:

  1. Utility Token: $PZP is a utility token, which means it serves a specific purpose within the PlayZap ecosystem. It unlocks the true potential of the game economy, enabling a seamless exchange of assets and earnings among gamers, developers, and publishers.

  2. Reward Pool: A significant portion of the token supply, 30 million tokens (approximately 20% of the total supply), is dedicated to incentivizing and rewarding players for their participation and achievements within the platform. This encourages engagement and competitiveness among players.

  3. In-Game Use Cases: $PZP tokens can be earned by scoring highly in events and tournaments and can be used to buy NFT heroes, items, and land from the in-game marketplace. This creates a thriving economy where players can trade and exchange their digital assets.

  1. Staking and Earning: Players can stake their $PZP tokens to earn up to 50% APY, providing an additional incentive for token holders to participate in the ecosystem.

  2. Hybrid Experience: PlayZap offers a barrier-free, free-to-play model that welcomes both web2 and web3 players, making it accessible to a broader audience. This hybrid approach empowers players to leverage the 'Skill to Earn' format, which enhances the overall gaming experience.

  3. Community-Driven: The platform is community-driven, which fosters a sense of belonging among players and encourages collaboration and competition. This community aspect helps to build a loyal user base.

  1. Multi-Platform Availability: PlayZap is available on browsers and mobile platforms, making it easily accessible to players across different devices.

These strengths collectively contribute to the potential of the $PZP token and the PlayZap ecosystem, offering a comprehensive and engaging gaming experience.

PlayZap's risks

PlayZap (PZP) is a cryptocurrency project that operates in the GameFi space. As a blockchain-based project, it faces significant risks in operation, underlying technology, and legal and regulatory environments. These risks can impact the project's financial stability and the value of the PZP token.

The project has undergone several funding rounds, including IEO and IDO events, raising a total of $4.09 million. The token's price has seen some fluctuations, with an all-time high (ATH) ROI of 4.71x, indicating potential volatility in its value.

A risk analysis of PZP has categorized it as a moderate risk investment, which means that traders should be cautious when investing in the token. This assessment is based on various factors, including market trends and the project's overall performance.

In addition to these risks, the project's reliance on its ecosystem and the gaming industry as a whole can also impact its financial stability. Any changes in the gaming market or the broader cryptocurrency landscape can affect the value of PZP.

Overall, investors should carefully consider these risks before investing in PlayZap (PZP) and ensure they have a thorough understanding of the project's financial situation and market trends.

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Did PlayZap raise funds?

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PlayZap’s team

  • Abhishek Buchwani: Co-Founder and CEO, a gaming entrepreneur and blockchain technology veteran with experience in building and running large game titles with millions of players and revenue.
  • Taha Shahda: Co-Founder and CCO, contributing to the leadership team with expertise in gaming and blockchain technology.
  • Sunny Navani: TL & Blockchain Dev, responsible for technical leadership and blockchain development within the project.

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