Pancakeswap (CAKE) Rises 22% As The Popular DEX Fully Dives Into Web3 Gaming

Popular multi-chain decentralized exchange PancakeSwap has fully ventured into gaming, causing the value of its native token to surge.

The fast-evolving crypto landscape requires even the best projects to iterate and launch new offerings to attract more users and grow their piece of the pie. PancakeSwap is one project going down this path, with the popular DEX announcing Thursday that it has launched a new gaming marketplace.

PancakeSwap gained popularity for its pancake-themed decentralized exchange that originally launched on the BNB Chain before eventually expanding to other networks like Ethereum, Linea, and Arbitrum. The project’s native CAKE token is another primary feature, as users can earn the asset from staking across PancakeSwap liquidity pools and farms.

However, PancakeSwap now has another major offering in the shape of a new gaming marketplace. Alongside the new platform, PancakeSwap also introduced a new Web3 gaming title called Pancake Mayor, created by Binary X. Users can earn CAKE tokens by playing the game and using PancakeSwap NFTs as part of the experience.

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Notably, Pancake Mayor is PancakeSwap’s second gaming release, with the project earlier partnering with game maker Mobox to release Pancake Protectors in May. Nonetheless, the release of the gaming marketplace, alongside a new game, underlines PancakeSwap’s commitment to exploring the Web3 gaming world.

Developers Welcome to Build on PancakeSwap Gaming Marketplace 

In addition to launching its own games, PancakeSwap is also opening up its gaming ecosystem to other developers. PancakeSwap reckons developers who build with and integrate its Web3 gaming marketplace will enjoy access to its broad audience of over 1.5 million monthly players.

🎉 Introducing the PancakeSwap Gaming Marketplace – a GameFi Revolution with 1.5 Million potential players!

🏆 Featuring games like Pancake Protectors & Pancake Mayor
🌐 A dynamic hub for gamers & developers
🕹️ Play, build, & connect in a world of endless possibilities!… pic.twitter.com/jy0Hi0OV7X

— PancakeSwap🥞Everyone’s Favorite DEX (@PancakeSwap) November 15, 2023

Partners who embrace the PancakeSwap proposal will find it relatively easy to integrate CAKE tokens and PancakeSwap NFTs into their gaming experience. They can also benefit from leveraging the platform as a new revenue source.

Meanwhile, the price of PancakeSwap’s CAKE token surged in the days leading up to news of the project diving into Web3 gaming. CAKE is up 22% in the past seven days and currently trades at around $2.64 at the time of writing, with a $642 million market cap.