Coinbase Lists Pirate Nation (PIRATE), Token Price Soars Over 100%
The in-game token of Web3 game Pirate Nation by Proof of Play surged over 100% immediately after its launch and listing on Coinbase in the early morning of June 14.
Coinbase Lists Pirate Nation (PIRATE), Token Price Soars Over 100%
The Web3 game Pirate Nation (PIRATE) by game studio Proof of Play officially launched its token at 11:30 PM on June 13 (Vietnam time) and saw its price increase by over 100% right after launch.
Price volatility of the PIRATE token in the last 24 hours, screenshot from CoinMarketCap at 07:40 AM on June 14, 2024.
Coinbase quickly announced the listing of this token in the early morning of June 14, with the token price immediately soaring nearly 30% at the time of writing.
Pirate Nation (PIRATE) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.
— Coinbase Assets 🛡️ (@CoinbaseAssets) June 13, 2024
Pirate Nation is an RPG game with a pirate theme, operating directly on the Arbitrum Nova platform. The game offers sea adventures where players can collect materials to craft various treasures and resources.
PIRATE is an ERC-20 token on Ethereum, serving as the utility token within the Pirate Nation game.
Pirate Nation is the first Web3 game developed by the game studio Proof of Play. In September 2023, investment funds a16z crypto, Anchorage Digital, and Naval Ravikant participated in a $33 million Seed funding round for the Proof of Play startup.
Prior to the token launch, Pirate Nation announced an airdrop for players participating in Season 0, Season 1, and NFT holders.
The $PIRATE claim is now live.$PIRATE has day-1 utility and can immediately be:
— Pirate Nation Foundation (@PirateNationFDN) June 13, 2024
➜ claimed-and-staked to earn Proof of Play Points
➜ used in the @PirateNation web shop to get Gems, even if staked
Claim: https://t.co/ayFfg0Of82 pic.twitter.com/wBUWHHEITC
Most players will receive over 1,000 PIRATE (about $330), and this number can exceed 10,000 PIRATE (about $3,300) for those who actively "grind the game."
Notably, the project committed to distributing up to 47% of the total token supply to the community, with only 15% distributed in the initial airdrop, indicating many more airdrops in the future.
Besides Proof of Play, a16z, through its crypto division, has made several notable investments in gaming companies like Mythical Games and Voldex. In April 2024, a16z announced a $30 million investment in a series of gaming startups.
