There’s a new kid on the block(chain), and it’s another virtual pet collecting play-to-earn game!
My DeFi Pet is another promising entry to the ever growing list of blockchain-based games where players can earn cryptocurrency just by playing.
How does the game work? What does its gameplay look like? And is it already possible to start earning money by playing the game?
Find out more in this article!(Disclaimer: Our articles and guides in LevelDash.com are not financial advice. Please do your own due diligence before putting money on the game and only invest what you can afford to lose.)
What kind of game is My DeFi Pet?
My DeFi Pet is a new play-to-earn virtual pet game that runs on the blockchain. It combines DeFi, collectibles and your personality.
The game revolves around three main characteristics:
- “My” is for personalization
- “DeFi” for the game’s vision of bringing decentralized finance to its players
- “Pet” stands for virtual pets that you collect and level up in the game
In My DeFi Pet, players can:
- collect virtual pets
- breed pets to produce offspring
- evolve and level up these pets by feeding them with farm crops
- battle monsters with other players
- trade collectibles on the marketplace
The game is still in its very early stages and some of these game features are still under development.
What is “DeFi” or Decentralized Finance?
Most of the world’s financial system is very centralized. Think about it for a moment: if you wanted to open a bank account, there’s probably only very few options to choose from in your country.
This has been the case for several decades already, and blockchain technology wants to reverse this.
DeFi is short for “decentralized finance,” a financial system that does not need to rely on centralized institutions and middlemen such as banks, brokerages, and exchanges.
Decentralized finance relies on concepts like transparency, accessibility, and openness. It aims to eliminate decades-old financial system that’s tightly controlled by the big guys in Wall Street.
Through the power of blockchain and smart contracts, DeFi is starting to see the light of day. In fact, billions worth of crypto are now flowing through DeFi applications and services.
People are now lending, making loans, investing, and exchanging currency without big banks and institutions taking a cut for running these financial instruments.
My DeFi Pet is a game that aims to integrate these characteristics and visions of the decentralized finance movement.
How to Start Playing My DeFi Pet
DPET token is the main in-game currency of My DeFi Pet and it is required to start playing the game.
Here are the steps on how to obtain DPET and start playing My DeFi Pet:
- Create a MetaMask wallet
- Create a Binance account to buy BNB tokens
- Purchase BNB tokens
- Transfer BNB tokens to your MetaMask wallet
- Swap BNB for DPET tokens in PancakeSwap
- Go to My DeFi Pet website and connect your MetaMask wallet
Once you’ve successfully transferred DPET tokens to your MetaMask wallet, you can create a My DeFi Pet account on the game’s website and start playing!
You will need to buy at least 1 Pet which costs 3 DPET tokens. You can check the current price of DPET tokens here.
The game doesn’t require any applications to be installed. You can simply play the game right from the browser on any device, whether on a desktop computer or on mobile.
Note: If you can’t see DPET on PancakeSwap, you can add it using its contract address. Here is the official BSCScan page for My DeFi Pet’s DPET token.
How to Earn Money by Playing My DeFi Pet
At the time of writing, My DeFi Pet doesn’t have any play-to-earn mechanics yet. However, the developers of the game are currently working on adding new features allow players to eventually earn while playing.
Here are three ways players will be able to earn money by playing My DeFi Pet:
1. By earning DPET tokens and selling them to the market
The most basic way of earning money in My DeFi Pet is by farming DPET tokens and selling them to the exchange for money.
DPET is the game’s medium of exchange that runs the whole My DeFi Pet ecosystem.
Players will be rewarded with DPET tokens for playing the game such as doing daily missions and evolving pets.
As the game’s main in-game currency, DPET token will provide a win-win economic incentive for players who will continue playing the game and contributing to its economy.
2. By trading Pets on the auction
Once the Pet marketplace goes live, players will be able to buy and sell their Pets to/from other players.
Pets with higher stats, levels or rarity will be very valuable and you can definitely earn a lot if you are good at raising and evolving your pets.
Those who started collecting and raising rare and powerful pets early, even without play-to-earn mechanics yet, will soon be harvesting the fruits of their hardwork!
3. By winning Season Rewards
The last method to earn money in My DeFi Pet is by earning season rewards—and it is not for the faint of heart!
According to the game’s whitepaper, My DeFi Pet “uses the concept of Season to break down the game progress into smaller parts. This mechanism complements our human tendency for short term rewards.”
The locking-in, distribution and claiming of these rewards are all done with smart contracts.
Currently, the proposed reward pool is worth $100,000 in USD Tether tokens.
To win the Season Rewards, players are required to have 10 Legendary rarity pets with maxed out levels.
Many players are taking advantage of the “first-mover advantage” and are already starting to collect virtual pets and raise and evolve them to higher levels.
While the game is still in its very early stages and the play-to-earn features are still under development, My DeFi Pet does show a lot of potential to be one of the top blockchain NFT games in the metaverse.
However, as with other play-to-earn cryptocurrency games, only invest what you can afford to lose!