- Coinbase, the leading cryptocurrency exchange in the U.S., has announced the listing of a newly launched altcoin.
- Users on Coinbase will now be able to trade the token associated with the game Pirate Nation.
- “PIRATE is an ERC-20 token on the Ethereum Mainnet and serves as a utility token for Pirate Nation,” according to Coinbase’s statement.
Discover the latest in crypto as Coinbase lists Pirate Nation’s utility token, sending its value soaring.
Coinbase Lists Pirate Nation Token
Coinbase, one of the largest cryptocurrency exchanges in the United States, has officially listed PIRATE, a utility token designed for the Pirate Nation game. This strategic move allows Coinbase users to trade PIRATE on its platform, broadening access and liquidity for the token.
The Utility of PIRATE Token
PIRATE token, classified as an ERC-20 token on the Ethereum blockchain, plays a critical role in Pirate Nation—a blockchain-based game created by the game studio Proof of Play. This studio is helmed by Amitt Mahajan, one of the original founders of FarmVille. The token serves various in-game functions, enriching the gaming experience and engaging the community.
Substantial Financial Backing
In September, Proof of Play secured a substantial $33 million seed funding round. This round was led by prestigious investors such as a16z crypto, Anchorage Digital, and angel investor Naval Ravikant. This investment underscores the confidence in both the game and its utility token, PIRATE.
Remarkable Market Reaction
Following the announcement by Coinbase, PIRATE’s price surged significantly. According to CoinGecko, the token’s value increased by 114%, climbing to $0.2646, with a trading volume of $72.1 million at the time of writing. This dramatic price movement highlights the market’s positive reception and the high level of interest from traders and investors alike.
Conclusion
The introduction of PIRATE on Coinbase represents a noteworthy development for both the cryptocurrency and gaming sectors. This listing not only enhances the token’s accessibility but also provides a robust boost to its valuation. As PIRATE continues to integrate within the Proof of Play ecosystem, its practical applications within Pirate Nation will likely grow, solidifying its role in the broader crypto landscape. Investors and gamers alike will be keenly observing the token’s performance and the upcoming innovations from Proof of Play.
