The craze for these types of “play to win” games has been on the rise lately. Like Axie Infinity, they have their own game items, characters, or currency that can be converted to cryptocurrency online, making it an opportunity for people who want to win from the safety of their home. We recently wrote about Axie Infinity. Now, we will talk about My DeFi Pet, how to play it, the DPET token, its price, the rarity of the pets and if you should play it. Will it prove to be a strong competitor to the Axie Infinity community? Or will it take over entirely? Learn more as we discuss it.
What is My DeFi Pet (DPET)?
My DeFi Pet was launched by the first decentralized and interoperable blockchain platform in Vietnam and Southeast Asia called KardiaChain in May 2021. It was developed in coordination with TopeBox, a game developer in Vietnam whose previous releases, such as Sky Dancer and Thief Rivals, there were millions of global downloads. My DeFi Pet brings traditional gaming experiences and DeFi features to NFT collectibles. They also have their own monsters in battles that can participate in events to claim seasonal prizes.
My DeFi Pet is the company's vision for a mass-adoption blockchain game. The name introduces the three features of the game, which are "My" for customization, "DeFi" for built-in features, and "Pet" for a pet-raising game. The game revolves around engaging activities like collecting, breeding, evolving, fighting, and trading. What's more, My DeFi Pet use the concept of "Season" to divide the progress of the game into smaller parts. This mechanism complements the human tendency for short-term rewards.
How does it work My DeFi Pet?
The DPET token is the main in-game currency of My DeFi Pet, which is a non-refundable functional utility token used for My DeFi Pet exchange between players. Tokens are used to summon new eggs, breed and evolve monsters. Also, DPET tokens can be used to enter special events. Players can also vote for new game features and settings to earn special rewards through the government system. By locking DPET tokens, players will gain voting power, allowing them to have a higher chance of earning rewards. At the time of writing, 1 DPET equals PHP 206.55. On May 8, 2021, 1 DPET was priced at PHP 30.79.
This type of system provides a win-win situation, as participants who contribute to the ecosystem will be compensated for their efforts. For example, users will be rewarded with DPET tokens and random rewards to encourage them to spend on activities within the system / game, allowing more adoptions, breeding or evolution of pets, expanding the ecosystem, therefore, making it capable of accommodate more people.
My DeFi Pet is a combination of top-tier traditional game developers and a leading blockchain team. Check out the structure below.
All DPET tokens and NFT tokens will be available and traded on the cross-blockchain through Binance Smart Chain and KardiaChain. Also, due to the non-invasive connectivity of KardiaChain, you can offer the game to other blockchain communities such as Ethereum and Polkadot.
How to start?
You can find the game on its official My Defi Pet website. Please note that it is not necessary to install the game as it is only a browser game. To get started, here is a step-by-step guide:
1. Download the digital wallet called MetaMask.
2. Create a Binance account for the purchase of BNB tokens.
3. Once you have purchased the BNB tokens, you can transfer them to your MetaMask.
4. From MetaMask, your BNB coins must be exchanged for DPET tokens using PancakeSwap. Please note that your MetaMask must be connected to PancakeSwap in order to continue.
5. Finally, go to the My DeFi Pet website and click on “BSC Chain”, then connect your MetaMask and press “Update”.
¿How to play and win at My DeFi Pet?
Familiar with Facebook's old Farmville browser game? Well, My DeFi Pet gives off that vibe when it greets players with an overview of their pets on their “farm,” as they roam through their spaces. Now you need monsters to get started, and monster eggs can be purchased with DPET tokens.
Once you have your monster, you can start increasing their stats and level by feeding them. This is where the Farmville aspect comes into play. To get food for your monster, you need to grow fruits and vegetables in the farm field which can then be harvested to make your little monster grow big and strong. Once you get more monsters, whether it's from more egg purchases or breeding, you can repeat the process until you have an unstoppable army of strong monsters.
At the time of writing, players can win in two ways. The first is sell obtained DPET tokens from game missions or fights from other monsters or pet masters, which can then be converted via PancakeSwap. Please note that the battle feature is not yet available, but it may be activated soon.
The second method, according to the My DeFi Pet White Paper, is auction monsters you've been feeding. If you have a rare or high-level monster, you can sell it to bidders who want it.
I said there are two ways to win, but there is a third that leans towards the difficult side, which is to try seasonal rewards . For example, the Season 1 reward is priced at $ 100,000, which is locked in for DPET teams on a smart contract, and the tentative requirement for that team is to have 10 Legendary Pets with max levels. So players have to shoot to meet the requirements just to get a chance to win the jackpot, which is exciting.
Should I join the madness?
The Whitepaper provided by My DeFi Pet sets out your risks:
• Competitors: the rapid rise of other decentralized applications and networks that could potentially steal potential DPET users.
• Loss of talent: the development of My DeFi Pet depends on the continuous cooperation of technical teams and consultants. The possible loss of these talents can affect game development, cornering features that can further enhance the game.
• Security weakness – The involvement of hackers or other malicious groups attempting to interfere with DPET tokens or the game itself with a variety of malware or denial of service attacks, to name a few.
The reason people jump on this ship is because of its price, as the game was only released in May 2021, the prices of DPET tokens to get monster eggs and make them spawn are currently low in comparison. with other games like Axie Infinity. Like any cryptocurrency endeavor, you should do your research before spending. It may still be a game, but since you will be contributing real money, as we advised earlier with Axie, it would be best to use the funds you are willing to lose.
And there you have it, a brief overview of what My DeFi Pet is. Do you think it can gain massive popularity just like Axie Infinity? Possibly taking the title of "Best NFT Game to Make Money"? We just have to wait and see. So what do you think about this? Feel free to share your thoughts on this in the comments below.