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PancakeSwap (CAKE) Launches Play-to-Earn Program, CAKE Price Up 20%

source-logo  cryptonews.net 30 May 2023 15:00, UTC
Anna Martynova

Decentralized cryptocurrency exchange (DEX) PancakeSwap has launched a Play-to-Earn program (“play and earn”), under which users will have access to a crypto game called Pancake Protectors. According to the official statement, players will be able to receive unique non-fungible tokens (NFTs) and rewards in the native CAKE token.

The game supports the implementation of third-party NFTs: each player can integrate their own BAYC, MAYC or other NFT as an avatar image. The technical design of the game is based on the GameFi PvP protocol known as Mobox. Owners of CAKE tokens get the opportunity to have unit heroes that can increase the characteristics of players. The game features two types of unique NFTs – rabbits and squads, which can be used to enhance the abilities of heroes.

On May 29, 2023, the price of CAKE, an incentive tool and the main element of the PancakeSwap tokenomic scheme, increased by more than 20%. On Monday morning, the token jumped from $1.54 to over $1.8 on some major spot trading platforms. Thus, the news about the launch of Pancake Protectors helped CAKE mitigate all the losses of the past week.

Image: Shrimpy Academy