Coinbase Launches Trading for Ethereum-Based PIRATE Token from Pirate-Themed Game

Coinbase Launches Trading for Ethereum-Based PIRATE Token from Pirate-Themed Game

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  • Coinbase has recently added support for a new native token from a blockchain-based pirate-themed role-playing game.
  • The token, PIRATE, is designed as a utility and staking token within the game Pirate Nation.
  • This ERC-20 token launched this week with a significant surge, gaining nearly 90% within its first 24 hours of trading.

Coinbase adds a new token, PIRATE, to its listings, promising exciting opportunities for blockchain gamers and crypto investors alike.

Coinbase Supports Pirate-Themed Blockchain Game Token

Coinbase, the leading US cryptocurrency exchange, has expanded its token listings to include PIRATE, the native utility and staking token for Pirate Nation, a blockchain-based role-playing game. This development is particularly significant as it marks the platform’s ongoing commitment to exploring innovative digital assets. The inclusion of PIRATE under the “Experimental Label” category signifies Coinbase’s approach to integrating riskier and lower liquidity tokens into its ecosystem.

PIRATE Token Launch and Early Market Performance

The Ethereum-based token, PIRATE, made its debut on Wednesday and quickly gained attention due to its impressive nearly 90% surge within the first 24 hours of trading. In addition to Coinbase, other exchanges such as Gate.io, based in the Cayman Islands, and Coins.ph, a Philippine exchange, have also enabled trading services for the token. The rapid acceptance and trading of PIRATE highlight the growing interest and potential of blockchain gaming tokens in the crypto market.

Insights into Pirate Nation’s Ecosystem

Pirate Nation offers a unique gaming experience, allowing players to recruit crews, construct ships, explore islands, search for treasures, and engage in battles with various creatures. This fully on-chain game leverages the Apex chain, developed by Proof of Play, a gaming studio focused on blockchain technology. According to the game’s litepaper, Pirate Nation currently operates with over 300 smart contracts, ensuring all in-game logic is executed directly on the blockchain.

Technology Behind Pirate Nation

The Apex chain powers the Pirate Nation ecosystem, providing robust backend support for the game’s operations. The litepaper reveals that the current player base generates more than one million transactions daily through various in-game activities. Impressively, throughout much of Pirate Nation’s initial season, the Apex chain has ranked within the top three Ethereum Virtual Machine (EVM) based Layer 2 solutions for transactions per second (TPS) and gas usage per second (MGas/s). This demonstrates the significant transaction volume and efficiency of the Apex chain in supporting a dynamic gaming environment.

Conclusion

The addition of the PIRATE token to Coinbase’s platform underscores the exchange’s dedication to supporting innovative and emerging blockchain projects. With Pirate Nation’s unique offering in the on-chain gaming sector and the promising early performance of its native token, PIRATE, the game and token both stand to capture considerable interest from gamers and crypto enthusiasts. This development signals a promising future not only for Pirate Nation but also for the broader intersection of gaming and blockchain technology.

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