tl;dr
Coinbase has announced the listing of Pirate Nation (PIRATE), an ERC-20 token on the Ethereum network, resulting in a 150% price increase. PIRATE can now be traded on Coinbase and Coinbase Exchange in supported regions. The trading is set to begin once liquidity thresholds are met. Pirate Nation's s...
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Coinbase has announced the listing of Pirate Nation (PIRATE), an ERC-20 token on the Ethereum network, resulting in a 150% price increase. PIRATE can now be traded on Coinbase and Coinbase Exchange in supported regions. The trading is set to begin once liquidity thresholds are met. Pirate Nation's success is attributed to strategic pre- and post-Token Generation Event (TGE) approaches, which focused on creating network effects, incentivizing user interaction, and maintaining player retention. Following the listing, PIRATE's price surged 150% to an all-time high of $0.3312, with a market capitalization of $74,337,691 and a 24-hour trading volume of over $56,610,286.
Coinbase has officially announced that it will be supporting the Pirate Nation (PIRATE) token. The exchange noted that trading of this asset is only possible on the Ethereum network (ERC-20). Users are advised against transferring this asset over other networks, which may lead to losing funds. The Ethereum network contract address for PIRATE is 0x7613C48E0cd50E42dD9Bf0f6c235063145f6f8DC. The trading is expected to commence later today, provided certain liquidity thresholds are achieved. PIRATE may be limited in some jurisdictions, meaning its support is only available in specific regions.
The success of Pirate Nation can be attributed to the strategic approach it took in its Token Generation Event (TGE). The pre-TGE strategy focused on creating network effects and kickstarting the in-game economy by utilizing off-chain points known as Booty to incentivize user interaction. The post-TGE strategy aims to maintain player retention, solve the initial players’ acquisition issue, and establish a long-term token usage system. 47% of the total token supply was given directly to the community to ensure that game economies are driven by the players themselves.
Following the listing announcement, PIRATE experienced a notable price increase, surging 150% to an all-time high of $0.3312. PIRATE's market capitalization rose to $74,337,691, and the 24-hour trading volume was just over $56,610,286, making PIRATE the 128th most traded cryptocurrency.