Review of Top Memecoins of 2021: Yooshi Success

With metaverse and PlaytoEarn continuing its trend, Yooshi’s GameFi prospects look bright as we head into the new year.

The Rise of the Memecoin

As the year comes to a close we take a look at one of the better performing projects, initially termed a ‘memecoin’, that has become a crypto mainstay.

Yooshi is a decentralized memecoin and NFT GameFi ecosystem built on Binance Smart Chain. Yooshi token was launched in May 2021 as 100% community-owned with no pre-sale or team allocation. The token had a total supply of 1 Trillion at the token generation event (TGE). However, 50% of the total supply which was allocated to the developer’s wallet was burned upon launch. Yooshi token’s liquidity was locked at launch and contract ownership transferred to the ‘blackhole’ which essentially means that the project would find it exceptionally difficult to rugpull. The memecoin also has a deflationary burn mechanism designed to continually drive its price upwards. 

Yooshi appeared on the scene at a time when memecoins began to draw large followers. It drew inspiration for its dinosaur theme from the popular Super Mario video game. From a relatively humble beginning, Yooshi has grown its ecosystem. Indeed, the platform’s potential has attracted positive reviews:

“It is usually unheard of to see memecoins have this much utility and depth. YooShi is challenging this stereotype with unique DeFi offerings and metaverse aspirations”, Adrian Zmudinski of CoinMarketCap wrote in a review of the platform on December 6.

Major Events

Yooshi had a very eventful year. A couple of key moments that graced Yooshi’s year include:

• Top MOU

In June 2021 – roughly 1 month after its launch, Yooshi signed a strategic memorandum of understanding (MOU) with Samsung Games. The MOU enabled Yooshi and Samsung Games to cooperate in the development of blockchain games. Samsung Games dreams of the union of blockchain games and entertaining game content – concepts that align with Yooshi’s metaverse ideas. The signing of an MOU of this calibre so early in Yooshi’s life signalled the team’s strong intent to build an ecosystem with use-cases beyond mere memes.

• Guild Alliance

Yooshi took another step towards growing its playtoearn platform by forming a guild alliance with other game guilds. A game guild is a group of gamers who pool resources and play together to progress faster in the game than if each gamer had played solo. 

The guild alliance was the world’s first PlaytoEarn guild alliance. Members of the alliance include Unix Gaming and Avalon World Gaming. 

Yoshi’s guild alliance potentially would be able to achieve what each guild would have found difficult to achieve on their own. This will lead to more earning opportunities in PlaytoEarn games, and aid Yooshi in achieving its goal of helping millions of low-income people around the world increase their income through PlaytoEarn. 

• Auction on Binance NFT

On November 9, Yooshi auctioned 10 of its unique Angel NFTs on Binance NFT marketplace. The proceeds from the auction were donated to charity through Binance Charity. This move is in keeping with Yooshi’s soft spot for charity. The design of the Angel NFT is derived from Angelman syndrome – a genetic disorder that affects children. Yooshi also has a dedicated donation page for anyone to support efforts towards finding a cure for the syndrome. 

• Yooshi GamePad

Yooshi incubated two NFT metaverse games DNAxCAT and StarMon in 2021. Both games have posted impressive results and have shown good stability. StarMon’s $SMON and DNAxCAT’s $DXCT tokens each have a daily trading volume of more than $6 million. 

Social Presence

On the social space, Yooshi has not fared badly. The platform’s community across its media channels has been steadily increasing. Yooshi’s Telegram group has 101,324 members and its Twitter page has 212,000 followers as of the time of writing. At one time Yooshi was in the Twitter top 10 most talked-about GameFi projects according to GenX Analytics. 

Market Performance

The Yooshi token has had a decent performance in the market. Based on data pulled from Coinmarketcap, 375 Trillion Yooshi tokens are in circulation with a market capitalization of over $370 million. The token’s all-time low value is $0.00000002672 reached on September 30. As of the time of writing 1 Yooshi trades for $0.000001008 which represents about a 3,600% increase from the all-time low. 

Outlook for 2022

One feature that is likely to keep Yooshi a step ahead of other platforms is its GameFi incubation service. At the moment the trending theme in the blockchain industry is the metaverse concept. Lots of GameFi metaverse platforms will likely spring up in 2022, and they will need incubation and technical support to beat the competition.

Yooshi was the first GameFi incubation protocol on Binance Smart Chain. The protocol has successfully incubated two games: StarMon and DNAxCAT. GameFi incubation seems to be Yooshi’s area of strength and may give it the edge heading into the future.

2021 was a good one for Yooshi by all estimations. As we head into 2022, we look forward to what Yooshi has up its sleeves for the new year.‍

Where to find Yooshi:‍

Website | Twitter | Medium | Discord | Telegram | Reddit | YouTube

Source : bsc.news