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PancakeSwap Unveils Web3 Gaming Platform, Boosting CAKE’s Bullish Narrative after Descent 132% Breakout in One Month
PancakeSwap Finance (CAKE), a vibrant web3 ecosystem that was initially built on BNB Chain but grew to a multichain project, has introduced its PancakeSwap Gaming marketplace for both developers and gamers. According to the announcement, the PancakeSwap Gaming Marketplace will cater to gamifi developers by providing a platform to effortlessly build their projects and get exposure to a vibrant community. Additionally, the PancakeSwap Gaming Marketplace will offer web3 gaming enthusiasts a platform to engage with other community members and get a chance to accumulate more CAKE tokens and NFTs.
Consequently, CAKE’s price edged about 32 percent in the past two days to trade around $2.68 on Thursday during the early Asian session. According to our latest market data, CAKE has gained about 132 percent in the past four weeks, thus securing a solid breakout from the bear market falling trendline.
Closer Look at PancakeSwap Gaming Marketplace
The launch of the PancakeSwap Gaming Marketplace has been described as a strategic move geared towards onboarding more users to the web3 space. Moreover, the gamifi projects supported on the marketplace can be used to educate novice crypto investors on how web3 platforms and digital assets operate in blockchain technology. Notably, the PancakeSwap Gaming Marketplace initially has two projects, thus leaving space for more developers to launch their ideas.
“We’re excited to unveil our newest and most captivating venture – the PancakeSwap Gaming Marketplace! This is far more than just another feature; it’s a significant leap into the exhilarating domain of blockchain gaming, fueled by our community’s enthusiasm and the boundless potential of GameFi,” the company noted in the announcement.
According to the company, the Pancake Protectors, which was recently unveiled on the marketplace in collaboration with Mobox, has been attracting over 25,000 web3 playdaily. Despite the impressive performance, the PancakeSwap developers have promised to continually improve the gaming platform. Moreover, the mainstream adoption of blockchain technology through gaming platforms heavily relies on the fluidity of the game at hand.
The other gaming project on the PancakeSwap Gaming Platform is Pancake Mayor by Binary X, which intends to introduce high-quality games to web3 and the metaverse industry.
The PancakeSwap Gaming Marketplace offers web3 gaming developers a chance to scale their ideas to a community of more than 1.5 million users. Furthermore, the PancakeSwap ecosystem has proved to be a crucial part of enabling mainstream adoption of digital assets.
The successful launch of PancakeSwap Gaming Marketplace is expected to significantly boost the $1 billion valued CAKE network. As of this report, the PancakeSwap platform had about $1.49 billion in total value locked (TVL). Ultimately, the success of PancakeSwap means the improvement of general crypto liquidity as it is a leading automated market maker.
