To find out even more about this project, check out our deep dive of My DeFi Pet.
What Is My DeFi Pet (DPET)?
My DeFi Pet is a lifestyle-based pet game combining NFT collectibles and DeFi. The game has been described as a crossover of Pokémon and NFTs, ideally suited to pet lovers. The gameplay revolves around collecting, breeding and evolving NFT collectible pets, which all have individual characters. The game is set in “an enchanted land with mysterious creatures and objects for everyone to go on an adventure and discover the magic behind the mystic veil.”
See more: Mydefipet coin
My DeFi Pet launched on May 14, 2021, and has achieved impressive growth since, growing to 166,000 token holders and over 100,000 followers on Telegram and Twitter each as of August 2021.
To achieve their goal of a game that gets mass-adopted, the team broke up the usual long-winded rhythm of collectible games, replacing it with seasons.
The first season features a competition with a grand prize of 100,000 USDT. To win, players have to find the NFTs with the exact specifications as prescribed in the contract and then send these to the contract to claim the reward. The particular requirements will be decided after launch. Tentatively, the prize requires 10 legendary pets with maxed level.
Besides that, My DeFi Pet offers yield-farming in cooperation with other projects and plans to have battle and storage options. The release of these features and updates has been announced from Q3 2021.
Who Are the Founders of My DeFi Pet?
My DeFi Pet was launched in April 2021 by a Vietnamese team, which is also behind KardiaChain, the first interoperable blockchain in Vietnam and South East Asia. The CEO of My DeFi Pet Trim Pham is also the CEO of KardiaChain. COO Liem Thai is the CEO of Topebox, one of Vietnam’s leading game development studios. He boasts more than 15 years of experience in the game industry and media and 30 years as a passionate gamer.
The other three team members that are part of the core team are also members of either KardiaChain or Topebox. My DeFi Pet is also backed by a four-man strong advisor team and a diverse group of venture capital funds, such as Animoca Brands (NFT-focused), Spark Digital (DeFi-focused), Axia 8 and Bixin Ventures (product development and strategies), and others.
What Makes My DeFi Pet Unique?
My DeFi Pet features intricate gameplay to keep players hooked.
Players can obtain pets in two distinct ways. The first option is to summon them, that is obtaining a random egg by consuming a certain amount of DPET tokens. Alternatively, players can participate in auctions for a pet. A new pet is born every hour, and players can bid with DPET tokens for 24 hours. After the bidding period, any unclaimed pet will remain at the Altar for later purposes.
Players can also breed new pets by combining any two pets that will inherit their parents’ genes. That means entirely new pets can arise as a result of breeding, since the offspring inherits features from both parents.
Pets have certain evolution levels and capabilities, so players can feed them DPET tokens to evolve their pets. Furthermore, pets can participate in battles and fight bosses to earn DPET tokens as a reward. A boss has 100 levels, and each boss level will appear 15 minutes after the previous boss is defeated or the time runs out. Pet Masters have 12 hours to defeat any boss levels before they run away. For the last boss, players have 48 hours.
My DeFi Pet will also have play-to-earn features and social features in the future and plans to release a mobile app before the launch of Season 2 in Q2 2022.
Check out Axie Infinity (AXS) – another pet-oriented trading game incorporating NFTs.
Check out CryptoZoon (ZOON) — a Pokémon-inspired NFT trading game.
Learn how NFTs work in our guide to non-fungible tokens.
Get the latest crypto news and latest trading insights with the CoinMarketCap blog.
How Many My DeFi Pet (DPET) Coins Are There in Circulation?
The total supply of DPET is 100 million. 21.875% were distributed in a private sale (vested at 10% per month) and 1.5625% in a public sale. 16.5% of the tokens go to the team but are locked for one year and then vested linearly for one year. 10% go to partners and are locked for six months, then vested linearly for one year. 3% go to advisors with the same vesting schedule. 1.25% serve as liquidity for the DEX, 18.8125% as reserve and 27% are reserved for marketing and vested at 5% per month.
How Is the My DeFi Pet Network Secured?
DPET itself is a BEP-20 token on the Binance Smart Chain, while the game itself is running on the interoperable KardiaChain. The team states it wants to make DPET available on other blockchains as well and mentioned plans to launch on Ethereum and Polkadot. Recently, it also integrated a VRF function from Chainlink to guarantee 100% randomness in its game.
BSC is secured through the proof-of-stake consensus mechanism. 21 validators are elected every 24 hours to validate transactions and maintain blockchain security. These validators have to stake a certain amount of BNB coins with Binance to be eligible to do so.
When Will My DeFi Pet Trading Begin?
My DeFi Pet was launched on May 14, 2021, on Pancakeswap.
Where Can You Buy My DeFi Pet (DPET)?
DPET is available on PancakeSwap, nftgamef.com and Kucoin. If you want to learn more about how to start buying cryptocurrencies, you can read more here in our guide.
As the game has grown in popularity, DPET to PHP price has increased dramatically in the Philippines.