What Is DEAPcoin (DEP)?

DEAPcoin (DEP) is an ERC-20 utility token belonging to the Playmining Platform. According to the whitepaper, Playmining is the NFT game platform of the worldwide GameFi industry. GameFi is a DeFi platform for creating new blockchain-based games. However, Playmining's goal is to build a system that protects the rights and benefits of worldwide creators while creating all-new entertainment content. The platform’s vision is to create a new culture and economy with entertainment and coins in the digital age built on blockchain technology. DEAPcoin can be used to purchase NFT on the PlayMining NFT marketplace along with upcoming services, including lands and in-games items on the metaverse platform. 

Additionally, PlayMining is built of "Three services and elements." The three services aim to have the the following unique functions:

• PlayMining Games - The launched games are Trading Card Battle Game "JobTribes," Puzzle Game (a combination of PlayMining Puzzle and JobTribes), and Coin Pusher Game "Lucky Farmer."

• NFT Marketplace by DEP - An NFT marketplace focuses on in-game items. The deal takes place through ERC721 standard NFTs. ERC-721 is an open standard to build unique tokens on the Ethereum blockchain.

• PlayMining Vault - PlayMining Vault makes an incentive structure that permits DEPs, NFTs, and PMGs (PlayMining Gold) to users contributing to PlayMining's economics.

Furthermore, the three elements that bond the services together are the following:

• PlayMining Token - PlayMining economy plans to grant PlayMining Gold a voting token within 2022. PMG is the voting tokens running on ERC-20 standard that give voice to users in the goals of the PlayMining economy. Also, DEP is a play-to-earn reward token used as payment for NFT purchases.

• PlayMining Chain - NFTs in the PlayMining economy get traded through a sidechain of the Ethereum network known as the "PlayMining Chain."  The network is connected to BSC (Binance Smart Chain), and DEP can be converted into BEP-20 (B-DEP). BSC is a blockchain network that works on dual-chain architecture and empowers the users to set up their DApp.  

• PlayMining Verse - PlayMining Verse seeks to be launched to build a place that directly connects creators and users.

Moreover, DEP can get staked in the DEP Staking at the Portal of PlayMining. The token aims to be distributed from three significant pillars, in-game contribution, Vault services, and PlayMining Economy grants.

History of DEAPcoin (DEP)

Naohito Yoshida (CEO and founder) and Kozo Yamada (cofounder & CSO) launched DEAPcoin. DEP was issued on August 28, 2018.