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

PancakeSwap (CAKE), a decentralized cryptocurrencies exchange and yield farming machine, shares the details of its GameFi offering. Here's how cryptocurrency gaming fans can get unique NFTs and rewards in native token CAKE.

PancakeSwap (CAKE) becomes first DEX to launch its own GameFi

According to the official statement by the PancakeSwap (CAKE) team, its pioneering GameFi platform Pancake Protectors kicks off in mainnet. The new project invites all enthusiasts of decentralized video gaming to exciting gameplay with fictional characters, PvP battles for towers, tournaments and so on.

🎉 The official launch of Pancake Protectors has arrived! 🛡 Unite your heroes, protect your territories, and claim victory! 🦸
🎮 Immerse yourself in the captivating world of tower defense gameplay now: https://t.co/gq5947psCe

🐰 Holders of PancakeSwap Bunnies & Squads gain… pic.twitter.com/D0hAwPcWQB

— PancakeSwap🥞Ev3ryone's Favourite D3X (@PancakeSwap) May 29, 2023

The tech design of the game is powered by industry-leading PvP GameFi protocol Mobox. Holders of CAKE tokens are able to claim CAKE Heroes, units designed to boost the features of players.

Besides that, the game has employed two types of NFTs with unusual utilities: Pancake Bunnies and Squads can be used to enhance heroes' abilities.

The game supports implementation of third-party NFTs: every player can integrate his/her BAYC, MAYC or other NFT as an avatar image to make the profile look outstanding.

Right now, the game is available in beta mainnet mode. The top participants of the Arena (Competitive Ranking Board) or the Hero Chart (Consumption Ranking Board) are invited to share an extra prize pool of 10,000 CAKE, the announcement shares.

CAKE price jumps to local highs

Also, all users of Pancake Protectors can claim their rewards in lotteries, lucky draws and so on.

The price of CAKE, the rewards instrument and backbone element of PancakeSwap's tokenomic design, rallied by over 20% today, May 29, 2023.

In the early morning hours, the token spiked from $1.54 to over $1.8 on some major spot trading platforms. As such, the news about the Pancake Protectors launch helped CAKE to mitigate all of its losses of the past week.