Coinbase Adds Pirate Nation Token to Platform, Price Surges by 105%

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Exciting news from Coinbase! They have just added Pirate Nation (PIRATE), an ERC-20 token on the Ethereum network, to their list. As a result, the price of PIRATE surged by 150% following the announcement.

Now, PIRATE can be traded on Coinbase and Coinbase Exchange in regions where trading is allowed.

Coinbase Welcomes PIRATE

Coinbase is pleased to announce its support for Pirate Nation (PIRATE) token, available for trading exclusively on the Ethereum network (ERC-20).

Please ensure not to transfer PIRATE over other networks to avoid any risk of losing your funds. The Ethereum network contract address for PIRATE is 0x7613C48E0cd50E42dD9Bf0f6c235063145f6f8DC.

Coinbase has added support for Pirate Nation (PIRATE) on the Ethereum network (ERC-20 token). Remember, avoid transferring this asset over other networks as it may result in fund loss. You can start trading this asset on @Coinbase & @CoinbaseExch in regions where trading is permitted.

— Coinbase Assets 🛡️ (@CoinbaseAssets) June 13, 2024

Trading of PIRATE is scheduled to kickstart later today, provided certain liquidity thresholds are met. Therefore, once enough supply is generated, trading will gradually begin on the PIRATE-USD pair. Keep in mind that PIRATE may have limited availability in certain jurisdictions.

Pre- and Post-TGE Strategy

Pirate Nation’s successful journey can be attributed to its strategic approach during the Token Generation Event (TGE). Before the TGE, the focus was on creating network effects and igniting the in-game economy. This involved leveraging off-chain points known as Booty to incentivize user involvement and positive activities within the ecosystem.

Players could earn Booty Points during combat and by completing special tasks in the game. These points were valuable for purchasing intermediate assets to upgrade pirates and ships, ensuring a balanced and engaging gaming experience.

The post-TGE strategy aims to retain players, address initial player acquisition challenges, and establish a sustainable long-term token usage model. 47% of the total token supply was allocated directly to the community, emphasizing player-driven game economies.

Pirate Nation has successfully launched their token $PIRATE, marking a significant accomplishment 🏴‍☠️

It’s an adventurous on-chain game involving treasure hunting that empowers all players and creators.

Discover why they have such a strong community backing 🧵pic.com/SwixQIkkR5

— Mash (@Mash_CT) June 13, 2024

To boost visibility and engagement, Pirate Nation introduced innovative social farming techniques. The Discord Blitz campaign encouraged community involvement in various pirate-themed activities across different Discord channels. Additionally, a referral system incentivized gameplay beyond registration, resulting in 5 million gauntlet rounds cleared and 8 million quests completed.

PIRATE’s Price Surge and Market Cap

Following the listing, PIRATE recorded a substantial price surge. Despite opening at $0.1142, the price surged by 150% to reach an all-time high of $0.3312.

Source: CoinMarketCap

Simultaneously, the market capitalization of PIRATE surged to $74,337,691 during the rally, positioning it at 2668th among all cryptocurrencies. The 24-hour trading volume exceeded $56,610,286, elevating PIRATE to the 128th most traded cryptocurrency.

For more insights: Curve Finance Proposes 10% CRV Burn Amid Liquidation Crisis

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