• The meme coin genre is attracting capital and attention.
• Shiba Inu (SHIB) and DigiToads (TOADS) are seeing growth due to the Shibarium Beta bridge release.
• DigiToads has established itself as a leader with its native ecosystem, The Swamp, which includes NFT Staking, Toad Tax, and Toad Cade.
Meme Coin Gains Attention
The meme coin genre has been gaining considerable capital and attention in recent times. Two prominent coins in this sector – Shiba Inu (SHIB) and DigiToads (TOADS) – have seen significant growth amid the Shibarium Beta bridge release.
DigiToads Emerges As Leader
DigiToads has emerged as a front-runner in the emerging crypto projects space, raising over $6.7 million for its native ecosystem called The Swamp. This area of investment offers investors opportunities to earn rewards from features such as non-fungible token (NFT) staking, the Toad Tax system, and play-to-earn game ‘Toad Cade’.
NFT Staking Incentivises Long Term Supporters
The NFT staking mechanism allows owners of DigiToads collectibles to stake their NFTs for payouts in TOADS tokens, incentivising long term supporters who align with the protocol’s mission to become an established web3 currency across the decentralized finance (defi) scene. Additionally, 2% of all transactions in The Swamp are redirected to a payout pool while 2% are burned as part of a deflationary tokenomics model.
Play-To-Earn Game Generates Earnings
The ‘Play-To-Earn’ game ‘Toad Cade’ provides another avenue for users to generate earnings from their activity on the platform. Meanwhile, the Platinum Toads initiative ensures that more funds get added into DigiToad’s coffers by distributing treasury control to skilled on chain participants.
Overall it appears that utility is being embraced within the meme coin genre as investors look for projects with tangible use cases that can drive price gains over time rather than relying solely on hype cycles for short term returns.