There's a new "meme" coin on the market called "Tamadoge". It had a pre-sale for quite some time which turned out to be a huge success.
Totally they raised $19M from beta sale and presale so you are right to call it as a huge successful crowd sale.
According to the website, the "meme" coin will have its own P2E (Play-to-Earn) game where you can earn TAMA on the ETH blockchain.
The concept and financial model of Play to Earn is broken that result in huge selling pressure from gamers. They have to buy NFTs at beginning and can play to earn forever (in most Play to Earn projects) that is unbelievable.
Tamadoge has idea to reduce this buy-once and use-forever NFTs with Tamaghost. It is a smart step to reduce selling pressure. To support this, support token price, they have buy back and burn from their Tama store with which 5% of money by selling NFTs in store will be used for that purpose. I can not deny it is good strategy from Tamadoge team but I don't believe it is enough to balance their finance model.
Whenever the project will be a success or a failure in the long run, it's yet to be seen. While I don't think TAMA will become extremely-valuable in the future (it's a "meme" coin after all), it could certainly become a profitable venture for early investors within the short-term.
Play to Earn projects are projects for non-gamers to play and earn. Real gamers don't play it that is hilarious.
What do you think about this coin? Is it a scam or is it legit?
Scam or legit won't help all people get profit because it's a zero-sum game.
Do you think it's possible TAMA will reach $1 within the not-so-distant future?
I don't believe in its financial model and its future but in near future, I believe Tamadoge team can create hype and price will make higher all time highs. $1 is somewhat possible price for it but I don't recommend it to anyone. It's risky!