What Is Degen Zoo (DZOO)?

Degen Zoo (DZOO) is a non-profit NFT gaming token tied to the Degen Zoo blockchain game, whose purpose is to raise awareness regarding endangered animal species. DZOO users can also benefit from token staking and Degen Zoo NFTs.

Let’s walk through the details of Degen Zoo and take a look at this new crypto-gaming token.

How Degen Zoo (DZOO) Works

Degen Zoo (DZOO) is part of the NFT gaming mechanics of the Degen Zoo blockchain game. The game has a noble goal of raising awareness regarding the negative impact of industrialization and environmentally harmful practices on endangered animal species. Moreover, the developer team promises to donate all profits from the game to animal charities that help prevent the extinction of endangered animals.

To achieve this, Degen Zoo uses the DZOO token and animal NFTs. The DZOO token is the game’s cryptocurrency players use to engage in NFT minting. The Degen Zoo game contains a maximum of 60,000 animal NFTs that need to be minted from NFT eggs with the help of DZOO tokens.

The NFTs show artistic pictures of 120 endangered animals and come with different traits. The animals all have different weights, endangerment levels, a lifetime counted in days, and staking reward percentages.

There’s a certain amount of DZOO tokens locked in each animal NFT. The only way to unlock these tokens is when the animal “dies,” which means burning the NFT. Players can wait for the animal to mature and burn the NFT to get the full amount of locked DZOO or burn the token earlier and receive a decreased amount of tokens.

An animal’s weight and level contribute to the number of locked tokens. Each NFT can increase its level two times. Animals increase levels by eating other animal NFTs. Users need to merge another animal NFT with the first one to get an NFT with a higher level. The leveled-up animal NFT usually has a higher locked token value than both initial NFTs combined. Higher-level animals also yield higher staking rewards.

Every animal’s life begins as an NFT egg that has to be hatched. The hatching process is basically when you mint the NFT by burning 10,000 DZOO and find out which animal you got. The animal’s DZOO value goes from 7000 to 67,000 DZOO tokens, depending on the NFT’s characteristics.

What Is Degen Zoo (DZOO) Used For?

From the developer team’s perspective, DZOO is a tool to help animal charities aid endangered species across the globe. As for DZOO users, the token allows them to have fun, mint NFTs, and take profits.

Holding DZOO tokens is the prerequisite for participating in the Degen Zoo game and unlocking various benefits. Users need to buy some DZOO tokens and immediately start staking them on the Degen Zoo web platform. The game distributes a certain number of eggs to users each day, and depending on how many DZOO you have staked, you’ll earn an egg sooner or later.

Once you have an egg, you need to burn 10,000 DZOO tokens to hatch the egg and find out which animal NFT you got, along with the number of locked DZOO within the NFT. At this point, you can decide to immediately burn the NFT and earn the locked tokens, minus the 40% early burning token penalty or keep your NFT.

If you decide to keep the NFT, your burning penalty will decrease over time, and you can wait for the animal to reach its lifespan limit to earn the total amount of locked tokens.

However, you can also maximize the number of locked tokens and potentially earn much higher DZOO rewards if you evolve your animal by feeding it another Degen Zoo NFT. The DZOO rewards can get especially high if both animals have higher rarity scores and rare traits, such as heavier weight and higher endangerment levels.

In conclusion, players invest DZOO tokens for an opportunity to earn much more tokens through the Degen Zoo NFT ecosystem. You can easily cash out the accumulated tokens for other cryptocurrencies on some crypto exchanges that support DZOO.

Where to Buy Degen Zoo (DZOO)?

The easiest way to get hold of some DZOO tokens is by buying some Tether (USDT) stablecoins and trading them for DZOO on one of the major platforms with a USDT/DZOO trading pair. Some of these exchanges are ByBit, Gate.io, and HTX Global.

If you’re not into centralized platforms and prefer to just connect your crypto wallet to a DeFi trading platform, you can buy DZOO with Wrapped Ethereum (WETH) on UniSwap or with Wrapped BNB (WBNB) on PancakeSwap. 

How Long Has Degen Zoo (DZOO) Been Around? 

The Degen Zoo Twitter profile was created in January 2023 and has over 200,000 followers just a few months later. The project’s launch coincided with the launch of the DZOO token on March 16, 2023. 

What’s Controversial About Degen Zoo (DZOO)?

Degen Zoo is the result of a charity initiative aimed at helping endangered animals and raising awareness about the need to protect animal wildlife worldwide. Instead of creating controversy, the project is more of an answer to a controversial project called Crypto Zoo. 

Crypto Zoo is an unsuccessful crypto NFT project pioneered by internet celebrity Logan Paul in 2022. Crypto Zoo promised investors an interactive NFT game with similar mechanics to Degen Zoo.

However, users invested considerable amounts of money in the project, which never took off and, apparently, was a rig pull that left thousands of investors scammed. There never was any Crypto Zoo game or NFT collection launch, and the whole case is yet to receive a cour epilogue.

Degen Zoo developers claim that the Crypto Zoo scandal inspired them to show the world that it’s possible to create a project with a similar concept in 30 days and really deliver on their promises instead of scamming investors.

How Many Degen Zoo Coins Are There?

Out of the total amount of one billion DZOO, there are 270 million tokens on the market, and the rest is subject to a linear vesting period combined with staking rewards. 

Can DZOO Be Mined?

Instead of mining, new DZOO coins are available as staking rewards and NFT burning rewards. 

Market Cap and Price History of Degen Zoo (DZOO)

DZOO’s market value is just under 10 million USD, with a token price of 0.035 USD, according to the project’s official page on CoinMarketCap. 

At one point on March 16, 2023, DZOO reached a high of 0.085 USD but has since failed to retest or surpass that price.

Biggest Competitors of Degen Zoo (DZOO)

The blockchain gaming segment is crowded with new projects that utilize similar mechanics to Degen Zoo, but if we only want to mention its biggest competitor, then it’s definitely Axie Infinity (AXS). 

Axie Infinity includes fictional creators called Axies that come in the form of NFTs with numerous characteristics that show their rarity, special powers, and strengths. Users can form teams of Axies and engage in battles on 3D battlefields by connecting their crypto wallets to the Axie Infinity platform. Winners get rewards in the project’s native token and can trade Axies on the platform’s NFT market.

Unlike Degen Zoo, Axie Infinity has millions of players and a well-developed 3D virtual battlefield. Degen Zoo doesn’t have a gaming interface, which is a huge disadvantage compared to Axie Infinity. 

What Does the Degen Zoo (DZOO) Project Road Map Look Like?

Degen Zoo is quite extraordinary in terms of its development because the team delivered all of the game’s features in 30 days. There’s no roadmap and no future updates. Everything is already available.

Pros and Cons of Degen Zoo (DZOO)

Pros

• Exciting token mechanics that let users earn DZOO rewards through staking, evolving NFTs, and eventually burning their animals.
• Users don’t need to wait for any future updates because the team has already launched all DZOO features.

Cons

• Users need to burn 10,000 DZOO to hatch their NFT eggs, which can be a considerable financial barrier for some users.