This week, Vietnamese independent gaming studio Topebox announced that it had raised nearly $1 million in its latest round of investments for its upcoming game My Defi Pet. Described as a lifestyle-based pet game on blockchain, it uses the very latest decentralized finance (DeFi) and non-fungible token (NFT).
My Defi Pet is based around the process of breeding, evolving, battling and trading a series of ‘pets’, and each pet is an NFT. Think Pokémon meets Reddit Investors. The game uses DPET tokens which can be earned in the game or purchased. You can buy new eggs using DPET tokens, that develop into pets, or bid on a pet auction. You can also breed pets you own to create offspring – all for DPET tokens.
To level up your pet, you can feed it DPET tokens, making it stronger and then take it into battle. In the first season, there will be a prize of 100,000 USDT (Tether Cryptocurrency, currently around $98,927/£71,170/AU$126,815) to the leading player. The company expects that to involve training 10 pets to their maximum abilities. You can also earn money by breeding pets and trading them in the game.
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The game is about to launch on Kickpad and plans to go live to players in mid-May. If this takes off, like other NFTs, the pets themselves could become worth as much as the ultimate prize, as players build their teams. The downside here is that the winners are likely to be those with the most cash, rather than those with the most skill, but time will tell.
Even if My Defi Pet doesn’t become the global smash that investors hope, it’s unlikely to be the last to combine NFTs and blockchain with gameplay. There are certainly benefits to combining the technologies, if handled the right way.