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Learn everything about playing and earning with My DeFi Pet in this My DeFi Pet review. After reading this guide, you will know everything concerning DPET native token as well. All are detailed in this My DeFi Pet review. To set the ball rolling, recall that the existence of blockchain technology aims to revamp the financial sector — thus leading to the creation of My DeFi Pet technology.
My DeFi Pet has made its way into various fintech and gaming industries. As such, the gaming industry has seen multiple applications of blockchain shifting from common video gaming to the now-famous play-to-earn games.
In particular, the addition of blockchain tech into the gaming industry has made it possible to offer non-fungible token (NFTs) services easily. This shows that blockchain plays a key role in modern fintech applications. To clarify, NFTs are digital assets describing real-world objects like music, art, videos, and mostly, in-game items.
Therefore, the blend of NFTs, decentralized finance applications and blockchain tech has emerged in a more exciting form of gaming that allows players to own real assets — My DeFi Pet (DPET) is one of these games.
My DeFi Pet spices up common gaming using a unique blend of DeFi features and NFT collectibles like other blockchain-based games.
In this review, we will take into consideration how to play My DeFi pet, how the game works, and what the DPET token is. More importantly, we will broadly dissect the game’s local token, DPET, and whether it is worth investing in or not.
What is My DeFi Pet?
My DeFi Pet is a blockchain-based game developed by a Vietnamese game development firm, TopeBox. They designed the My Pet DeFi game and released it in May 2021 in coordination with KardiaChain, a decentralized interoperable blockchain.
My DeFi Pet allows players to breed, trade, and collect monsters. In addition, players can also connect to in-game events and win actual prizes of up to 100,000 USDT.
As a player, you can let your pets evolve when they attain a given level in the game. Moreover, the growth depends on the bonus points you earn as you interact with various features.
The game developer believes that the My DeFi Pet will soon see mainstream adoption and widen its use cases. According to the developer, the personalized name will make it easier for players to familiarize themselves and relate to the game personally.
The name of the game is composed of the three parts that are unique to the game. These are:
- My – This is thought to reflect the personalization that the game offers.
- DeFi – This means DPET uses DeFi features to reward players.
- Pet – This conveys that the game is about raising monster pets.
DPET users can either decide to play for free or invest in the game to get an excellent earning value. At the time of writing, My DeFi Pet is the #6 largest game operating from Binance Smart Chain as of August 17.
How Does My DeFi Pet Works?
This section of the My DeFi Pet review section covers the steps involved in raising the pets. Also, it explains how the game works. These are:
According to the game’s description, a new monster is born every hour. As such, players can buy or collect this monster by bidding. The bidding for these lasts for 24 hours. But if the monster is not collected by the end of the time, it is returned to the Altar.
If you miss the bidding, you can still summon the monster from the Altar for 100 DPET tokens. In addition, the monsters have unique features that are usually informed by their genes.
If you are looking for new features in a monster, you can create a new generation by breeding two monsters with the combination features you want. The offspring will have elements from both parents.
Depending on how rare it is, a monster will have different stages of evolution and skills. As the monster evolves, they acquire new appearances and upgrade stats. There are many ways to evolve your monster, but training or feeding them DPET tokens is the most common.
You can also trade monsters on the open market by acquiring new ones or selling them. In addition, the marketplace also lets you socialize, chat and battle with other players or friends.
The DPET game normally revolves around these four stages. However, My DeFi Pet also proposes the season’s concept to help break down the game’s progress into smaller parts. This is a powerful mechanism as humans love short-term rewards while playing.
As we mentioned earlier, you can also earn rewards by collecting and maximizing legendary monsters. The prizes are locked in a smart contract and are burned once claimed and sent to a player. Notably, most of the in-game activities are powered by the DPET token.
What is DPET Token?
DPET is a BEP20 token that runs on the Binance Smart Chain. Along with that, it is My DeFi Pet’s native token and the main in-game currency. Moreover, DPET plays an integral part in the game. If you don’t want to buy the tokens directly, you can earn some by interacting with the game. You can earn it from playing and competing in the set missions, as well.
DPET token uses for several functions, which we will discuss in the My DeFi Pet review section. These include:
- Summoning new eggs
- Breeding monsters
- Evolving monsters
- Entering special events
- Voting for new game moves in the governance system.
The voting power is earned by locking your tokens in the liquidity pool. Generally, the higher tokens you lock, the more voting power you have, and you also stand higher chances to win rewards.
The DPET token is currently ranked 545th largest cryptocurrency by market cap. It has a market capitalization of $41.3 million with a fully diluted market cap of $604.6 million. There are a total of 100 million tokens, with the current circulating supply being 6,878,202 DPET.
You can locate the game on the official My DeFi Pet website. Of note, it is not essential to install the game as it is only a browser game.
So, let’s begin with our step-by-step how-to-start guide of this My DeFi Pet Review.
- Download the digital wallet called MetaMask.
- Create an account on Binance for the purchase of BNB tokens.
- Once you have acquired the BNB tokens, you can transfer them to your MetaMask.
- From MetaMask, you must exchange your BNB coins for DPET tokens using PancakeSwap. Please note that you must connect your MetaMask to PancakeSwap to continue.
- Finally, go to the My DeFi Pet website, click on “BSC Chain,” then connect your MetaMask and press “Update.”
My Defi Pet comprises great gameplay with different missions, tasks, and events to keep players interested and active. As a game, it has easy-to-learn gameplay with enough competing settings to keep players addicted. To add to that, since it is an online game no need to download any app.
To gain access, users require registering an account to the official website mydefipet.com and linking their BSC wallet. Also, to start playing the game, you need a monster.
Gamers can only get the monster egg through the pet store using the DPET token. After buying a monster, users can make their ranking and playing rank by feeding and nurturing it. For this, you need to grow fruits and vegetables, which you can use to support your pet monster.
To grow your collection, you can either breed more monster species to get more of it or purchase more eggs from the store. Then, you only need to keep repeating any process of your choice to have a large army of them. Also, you can feed with the fruits and vegetables grown to make them stronger for missions and then advance in levels.
In this My DeFi Pet review, let’s go through the three ways to earn while playing this game.
The first means of earning is through the selling of DPET tokens. Players can do this from the in-game missions joined with other pets. If you win the fight, players can sell the token through exchange platforms.
Players can also get profit by auctioning the monsters which they have grown and nurtured. You can sell some or all your monsters to other players who bid for them on the platform.
Another means of earning in-game is into the developer’s season rewards. But this requires some guidelines to follow, and it also takes time. Thankfully, the profits here can be huge to make it worth your while.
The first season’s reward under this earning is $100,000, and it is regularly secured for the select DPET teams in the smart contract. The contract attached is that users require no less than ten legendary pets with complete levels.
Once users reached this requirement, players can partake in this large pool to win the huge season rewards at the end of the reward season.
This kind of system creates a win-win situation, as participants who contribute to the ecosystem are compensated for their efforts. For example, to encourage them to spend on activities within the system/game, they will reward users with DPET tokens and random rewards.
As a result, they are allowing more adoptions, breeding, or evolution of pets, expanding the ecosystem, making it capable of accommodating more people.
My DeFi Pet is a blend of a top-tier leading blockchain team and traditional game developers. Check out the structure below.
All NFT tokens and DPET tokens are available to trade on the cross-blockchain within KardiaChain and Binance Smart Chain. However, due to the non-invasive connectivity of KardiaChain, you can also offer the game to other blockchain communities such as Ethereum and Polkadot.
My DeFi Pet game is a new innovative decentralized gaming platform. In fact, it allows players to enjoy playing with the chance to earn real cryptos. In addition, the in-game crypto token that integrates into the system makes it safe and attractive. Notably, one great fact of this token is the astronomic rise. Also, it has been seen in the market starting from the game’s launch in May 2021.
Furthermore, DPET is now available in various decentralized exchange platforms and some centralized exchanges. This fact only sets the game on a new level with a bright future for larger profits while you play and improve. Moreover, this merge between DeFi, NFT, and gaming could advance with their industries. At the same time, it will aid in adopting crypto if it continues to enjoy the same traction it has had in the last couple of months.
Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as informative material about crypto games. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any cryptocurrencies.