Top-3 Promising New Crypto Projects to Watch in June
In Brief
Here are the top-three promising new crypto projects in 2024 that offer unique innovations and potential industry growth.
As we move further into 2024, new crypto projects emerge, each offering unique innovations and capturing the interest of investors and enthusiasts alike. To help you navigate this terrain, we have prepared a top-three list of the most promising new crypto projects that are poised to make a significant impact in 2024. These ventures stand out not only for their innovative concepts and technological advancements but also for their potential to reshape the industry and drive future growth. Join us as we delve into these and explore what makes them worthy of your watchlist.
PlayDoge ($PLAY)
PlayDoge is a fresh entrant in the crypto space that merges the playful Doge meme with a Tamagotchi-inspired play-to-earn (P2E) mobile game. Launched in March 2024, the project swiftly captured significant interest, raising over $2.7 million during its presale phase.
The game’s core revolves around caring for virtual Doge pets, reminiscent of the 90s Tamagotchi craze. Players feed, train, and entertain their pets while navigating classic 8-bit side-scrolling adventures. This nostalgic approach appeals to retro gaming enthusiasts and introduces a modern twist by integrating cryptocurrency earnings.
Players can earn $PLAY tokens through diligent pet care and excelling in various mini-games. The game incentivizes continuous engagement, as neglected pets can either run away or die, halting the player’s earnings. To further enhance the gaming experience, PlayDoge features a leaderboard system that rewards top players with additional $PLAY tokens and special prizes.
The tokenomics of PlayDoge are designed to support its ecosystem robustly. The total supply of $PLAY tokens is set at 9.4 billion, with 50% allocated to the presale, 12.5% for marketing, and 7.5% earmarked for community rewards. The project also offers high annual percentage yields (APY) for staking $PLAY tokens, currently around 700%.
PlayDoge’s development is structured into several phases. Initial efforts focused on contract audits and marketing, followed by app development and token launches on decentralized exchanges. Future phases include extensive marketing campaigns, app testing, and the full launch of mini-games, culminating in broader exchange listings and community airdrops.
To participate, users connect a DeFi wallet like MetaMask or Trust Wallet and can purchase $PLAY tokens using BNB, ETH, or USDT. The project’s staking options, available on the BNB Chain, provide lucrative returns, enhancing its appeal to potential investors.
Leveraging the widespread popularity of the Doge meme and the nostalgic appeal of Tamagotchis, PlayDoge has built a significant following. Its engaging P2E model and attractive staking rewards position it well to sustain user interest and expand its community.
PlayDoge (PLAY) has raised over $2.5 million in the first 10 days of its presale, with the current token price at $0.00504. This rapid fundraising translates to about $250,000 per day from investors. The presale’s success reflects a strong interest in PlayDoge, a “Tamagotchi x Doge” hybrid that blends nostalgic virtual pet gameplay with crypto earnings.
Analysts predict potential gains for PLAY, citing its innovative P2E (Play-to-Earn) model and retro appeal. Oscar Ramos and Matthew Perry foresee long-term price appreciation.
YouTubers like Crypto Gains and 99Bitcoins have highlighted the opportunities for early investors.
The project plans to use the raised funds to provide liquidity, marketing, app development, and staking rewards. Multiple exchange listings are targeted for later this year, which could also impact token value.
Despite the optimism from analysts, potential investors should consider the inherent risks and volatility of the cryptocurrency market. The success of PlayDoge will depend on maintaining its current momentum and effectively executing its development and marketing strategies.
Taiko (TAIKO)
Taiko (TAIKO) is positioned as a noteworthy project within the cryptocurrency landscape, characterized by its Ethereum-equivalent (Type 1) ZK-EVM, designed for maximum compatibility with Ethereum. Utilizing a based roll-up system, Taiko ensures transaction sequencing is handled by Ethereum validators, promoting simplicity and inheriting Ethereum’s liveness and credible neutrality.
The project has raised $41 million in funding, including $37 million from investors such as Sequoia China, Generative Ventures, and OKX Ventures, indicating strong financial backing.
Taiko operates as a fully permissionless and decentralized layer-2 (L2) solution, deriving its security from Ethereum and operating without centralized sequencers or verifiers. This approach aims to enhance security and decentralization within the blockchain ecosystem.
The project’s advantages include alignment with the current ZK-Rollup narrative, effective marketing, and strong support from reputable backers.
Taiko’s roadmap outlines key milestones, including multiple testnets, the mainnet launch, airdrop, and a planned CEX listing in 2024.
Taiko has made significant strides since its inception, marked by a series of successful testnets involving over 1.2 million unique wallets and more than 30,000 proposers and 14,000 provers. The project’s development culminated in the launch of its mainnet and an airdrop, allocating 5% of the total token supply (50 million tokens), designed to engage users and increase participation.
Taiko has gained support from the DeFi community, drawing the interest of prominent DeFi aficionados such as Ryan Sean Adams from the Bankless Foundation.
However, there are areas for improvement, such as the lack of information on initial circulation supply, the absence of a vesting schedule, and reliance on a single public security audit. As always, we recommend exercising due diligence and doing careful research before deciding on investing in what may seem like a nascent crypto star.
Fantom (FTM)
Fantom isn’t exactly new, but it’s a hot pick for this June, thanks to its growth potential and established reputation in the crypto scene.
Launched in 2018, Fantom is a high-performance, scalable blockchain platform managed by the Fantom Foundation. It leverages cutting-edge technology, using a Directed Acyclic Graph (DAG) and the Lachesis consensus mechanism to process up to 2,000 transactions per second. Recent adjustments, like lowering validator stake requirements, have made the network more accessible and decentralized.
FTM, Fantom’s native token, is crucial for staking, governance, and transaction fees. Its capped supply and extended staking rewards until 2027 ensure sustained community engagement and network security.
Fantom has recently made waves with significant price action, nearly doubling in value within weeks. Backed by over $340 million in assets and a strategic focus on DeFi, Fantom blends high performance with continuous innovation. Key partnerships, such as the recent collaboration with Google Cloud, and ecosystem enhancements, including a new web wallet and improved security measures, position Fantom for substantial growth.
Fantom’s versatility extends beyond DeFi; it’s a robust general-purpose blockchain. It has weathered market downturns, continuously building and innovating, which signals strong long-term potential. The upcoming Sonic upgrade is particularly exciting. It introduces the S token, which can be swapped 1:1 with FTM, enhancing transaction speeds and integrating seamlessly with Ethereum. This upgrade will boost liquidity and expand its user base.
As of May-June 2024, Fantom’s updates and investment potential has been the talk of the town among prominent crypto aficionados like Coin Bureau, Lark Davis, and Ijaz Crypto.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
