DigiToads raises $4.7m as it pushes to be the next big Meme coin
In the cryptocurrency arena, projects with market value or uniqueness stand the test of time. It is not enough to just try what existing incumbents have done and expect miracles. DigiToads creators have taken this mantle by introducing a special project to the industry.
The unique aspects of new projects are what separates them from the rest. There are already hundreds of cryptocurrencies, and getting your head above the crowd is difficult. DigiToads has managed to raise close to $5 million in its presale after only a few weeks, selling over 97% of the tokens available. Let’s highlight some of the reasons why investors are keen on this project:
Utility in the gaming ecosystem
DigiToads has distinguished itself from memecoins like Dogecoin by providing utility. It will not merely be another speculative memecoin for users to hype and dump. Instead, DigiToads creators conceived a metaverse gaming ecosystem that rewards users for their gameplay. The goal is to nurture digital toads within the game to hunt flies and protect their precious swamp habitat.
For their efforts, players earn TOADS tokens. This incentivized usage means that the token is not merely for holding but instead has an active community of users. Creating such use is the essence of utility because users see value in spending time on the platform and creating value there. This utility distinguishes DigiToads from other memecoins and presents a crucial value proposition.
Notably, the project has real-life sustainable ideals. 2.5% of overall profits will go to charities committed to protecting precious rainforests. This ethos forms a core part of the DigiToads, with the conservation theme also apparent within the game.
In mid-2021, Non-Fungible Tokens were the hottest assets in the crypto scene. The rise of NFTs plateaued somewhat as many creators started selling NFTs with little creativity and were not part of productive ecosystems. DigiToads has NFT collectibles within the game and seeks to preserve the value of these collectibles. The key to this vision is to allow collectors to stake their NFTs.
Accordingly, the staking sees stakers get 2% of TOADS transaction fees. This return incentivizes token holders to lock their NFTs, creating some scarcity in the market which is good for NFT value. Accordingly, the NFTs on DigiToads have a sustainable approach in ensuring holders get a productive asset with value in just holding. For this reason, the collectibles could incentivize DigiToads uptake, with the utility providing an anchor for prices.
The power of memecoin marketing
To top it off, DigiToads also leans into the power of memecoin marketing. Industry leader, Dogecoin, has shown the sheer power of internet marketing on notoriety. This project also has a memecoin angle, using the theme of toads engaging in battles to create a fun environment for its users. DigiToads has fun concepts such as the Toadmaggedon, Toadvengers, and more.
The utility will be complementary to its memecoin theme. This utility creates a difference from Dogecoin’s likes, which make no pretense of being serious projects. Memecoin hype on platforms like Twitter and Telegram should boost this project further and bring many users and investors keen to replicate the rise of Dogecoin.
History rewards those who dared to do things differently. DigiToads comes in with this mentality as it looks to add more dimension to the memecoin sphere. The model of Dogecoin has run its course, and there is no further room to imitate its structure with several copycats in tow. DigiToads will look to leverage the above reasons and a vibrant community to keep growing its user base and overall value.