PancakeSwap’s Gaming Marketplace Goes Live with Diverse Blockchain Support

By Ben Knight November 16, 2023 In Blockchain, PancakeSwap
Source: Adobe Stock
  • PancakeSwap, the third-largest decentralised exchange, has released its gaming marketplace.
  • Developers will be able to build on the platform, leveraging its support for nine blockchains including Ethereum and BNB.
  • The DEX’s native token, CAKE, has surged 130% in the past month in anticipation of the marketplace going live.

Popular decentralised exchange (DEX) PancakeSwap has joined the GameFi revolution, with the platform’s gaming marketplace released today. To begin with, two games will be available to play on the DEX – Pancake Protectors and Pancake Mayor. The first game has been around since May this year and has already established a user base of over 25,000.

How Will PancakeSwap’s Gaming Marketplace Work?

The marketplace will be geared toward all members of the GameFi community. For starters, developers of blockchain-based games and activities will be able to build their own titles on PancakeSwap, and use the marketplace to establish an in-game economy of NFTs or native cryptocurrencies. And just like any other third-party marketplace (such as OpenSea for NFTs), the gamers themselves can swap their favourite in-game items with other players. Perhaps most impressively, the marketplace will include support for nine blockchains – Ethereum, Polygon, Base, BNB Chain, Arbitrum One, Aptos, OpenBNB, zkSync and Linea.

Pseudonymous head of PancakeSwap, “Chef Mochi” was excited about the release:

PancakeSwap’s gaming marketplace marks an exciting new chapter in our continue commitment to innovation and enhancing the user experience.

Chef Mochi, Pseudonymous head of PancakeSwap

What Is The Impact On CAKE Tokens?

PancakeSwap’s native token, CAKE, has posted significant gains in light of the news and release of the DEX’s gaming marketplace. The coin is up 15.1% in the past 24 hours alone, a figure that pales in comparison to the impressive monthly surge CAKE has experienced. The staking and liquidity token has rocketed from US$ 1.08 (AU$ 1.66) on the 18th of October to US$ 2.70 (AU$ 4.15) today, marking an increase of 137.1%.

Source: CoinMarketCap
Ben Knight

Ben Knight

Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.

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