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Crypto

Pika Crypto

The History Of Pika Crypto

Pika crypto is an ERC-20 token that runs on Ethereum. It is the main currency of Gamefi, a Switzerland-based crypto company, and can be used to buy and sell in-game purchases. Pika can be traded to evolve into more valuable coins called Thunder and Rai. 

Diehard Pokémon fans developed Pika Crypto, and the name derives from the popular Pokemon character, Pikachu. The coin is penned as a meme coin, which has minimal value besides its name. The idea behind meme coins is the hope that they will rise in value if or when they go viral. Examples of this can be seen with Dogecoin and Shiba Inu

What Is The Purpose Of Pika?

According to the Pika crypto whitepaper, the token is perfect for those new to the world of crypto. With a rewarding gaming system and ongoing developments in Non-Fungible Tokens (NFT), Pika crypto appeals to gamers who could see a potential earning from playing games. 

How Does Pika Crypto Work?

The Pika token is used to buy and sell in-game purchases such as weapons or vehicles. This deflationary token is unique as it can evolve into more valuable tokens. 

Thunder

Known as the ‘first-generation evolution,’ Pika token holders can upgrade to a Thunder token – if you can afford it. The cost of 1 Thunder Coin is 10,000 Pika coins. 

Rai

Once again, Thunder coins can evolve into Rai; this will set you back 1,000 Thunder coins – you can see how it works!

If these coins start to trend and gain popularity, the Pika coin will eventually become a scarce commodity as the token has a 25% burn rate with all transactions; this means that one-quarter of all coins will be destroyed.


What Is GameFi?

Gamefi is essentially a hybrid of decentralized finance and blockchain gaming. The idea behind it is that instead of paying for in-game advantages such as a vehicle upgrade or a weapon, GameFi allows users to gain from playing the games they love financially. 

Gaming, in general, is trendy, particularly with younger players who may also have taken an interest in the crypto-sphere. Gaming is a multi-billion dollar industry, and it only makes sense that there be a gaming blockchain. 

The History Of GameFi

Amazon Game Studios created GameFi in 2013 to create fresh digital entertaining products. Early games included Cat Fling, Tales From Deep Space, and Toontown Rewritten. 

What Is GameFi Used For?

GameFi is a network in which game developers can publish games, and gamers can buy credits known as ‘gamecredits’ with fiat currency. The game credits are then used to purchase games. 

Once a game has been purchased, users can ‘play-to-earn’ and gain coins from simply playing. The funds can then be used to make in-game purchases or even spend on real-life merchandise. 

Players can earn rewards that can be used to pay for more games. However, it doesn’t end with gaming. The coins made are represented on the blockchain as real assets that could be life-changing! 

GameFi and Non-Fungible Tokens

Non-Fungible Tokens (NFT) are unique tokens to the holder and cannot be replicated because NFT’s represent physical, real assets such as artwork or real estate. 

Non-fungible tokens exist on a blockchain and contain all the unique information about a particular asset that is impossible to tamper with or change. They are vital as they pave the way for audiences to connect, reducing the need for intermediaries or third parties. 

When it comes to GameFi, NFT’s can customize certain aspects of a game, such as characters or artwork. Users can then resell as the market price increases. 

Is There A Future For GameFi

GameFi was primarily developed to give gamers more effortless access to games. However, the gaming industry has grown dramatically in recent years, particularly in national lockdowns due to COVID-19. 

Although a broader concept has been in development for some years, it has paved the way for gamers to earn a living from game playing. Digital assets are the next big thing as the world looks towards cashless systems. Gaming is a great way to not only earn a living but to develop new ideas and share with a bigger audience. 

It’s not just about giving gamers access to a game. Developers want gamers to benefit by earning as they play; this also helps the developers that may just be starting.

References

Pikachu Pokédex: stats, moves, evolution & locations | Pokémon Database (pokemondb.net)

Shiba Inu vs. Dogecoin: Who is the Lead Dog? | 7b broker (sevenb.io)

whitepaper.pdf (pikacrypto.com)

What is Pikachu (PIKA) Crypto? (marketrealist.com)

How to buy Pika (PIKACHU) – The buying guide (coinmarketsearch.com)

What is the relationship between Metaverse, NFT & GameFi? | by Binemon NFT Game | Medium

Non-Fungible Token Definition: Understanding NFTs (investopedia.com)

Pika USD Historical Data | CoinGecko

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