The cryptocurrency market has gone through a painful bear market but investors are looking for the best projects to lead the next bull run. A new project called Metacade taps into the meme token power of play to earn (P2E) gaming and the metaverse and the project’s MCADE utility token could be a great opportunity for crypto investors.
What is Metacade?
Metacade is set to be a brand new Web3 community where gamers and crypto fans can meet, to communicate and collaborate on the best metaverse games. The project is seeking to build a fun, dynamic meeting place where gaming enthusiasts can become absorbed in the latest GameFi trends and earn rewards. One of Metacade’s key goals is to create the world’s first community-driven, play-to-earn arcade and that positions it well to be a potent rival to any top meme coin.
Users can see which games are trending, view leaderboards, write reviews, and get involved in governance votes on the best upcoming games in the space. The native Metacade token (MCADE) will be used for prize draws, exclusive gaming tournaments, and staking for rewards.
What is a utility token?
A utility token is a cryptocurrency token that is minted to serve a specific use case within a project’s ecosystem. These tokens allow users to perform certain actions on the network. Utility tokens are not mineable cryptocurrencies because they are pre-mined and distributed in a way that is chosen by the founding team. In the case of Metacade, these coins can be staked to support the development of the project.
More on Metacade staking
One of the benefits of supporting the Metacade community through the staking of MCADE tokens will be receiving a share of the revenue generated from the project. Those revenues will be paid out in a stable amount rather than the MCADE token, to avoid inflating the number of circulating tokens.
Once token utility and revenue streams are created, there will also be a token-burning mechanism or a buyback to lower the total number of coins in circulation over time. The total fixed supply at launch will be 2 billion MCADE and 1.4 billion of those tokens will be available during the presale.
What’s the roadmap for Metacade?
The Metacade project will be launching its token presale in November 2022. The path to the first quarter of 2023 will focus a lot on the project’s marketing in order to grow the community, which will be vital to the project’s growth. MCADE is also planned to be listed on Uniswap, which is important for any coin seeking meme coin status.
Later in 2023 will be the full development of a create2earn, play2earn, and compete2earn GameFi model is the target. The project will keep the platform fresh with a host of third-party games, tested by its community, but it will also hand out grants to developers with ideas for the best metaverse game, to bring further content. As we saw with Axie Infinity, just one game can create an explosion of attention and see a surge in the native token.
What makes the Metacade project so unique?
Metacade aims to bring the best blockchain and web3 games to a community-driven platform in the form of an arcade. Play-to-earn games are growing in popularity but they are usually focused on one title and a desktop-based experience. Having only one theme and a limited number of worlds to explore can also be a headwind for adoption. At Metacade, players earn rewards, over a range of game titles, while joining fellow gaming enthusiasts in the community. Once the arcade is developed, there will be regular prizes, and exclusive tournaments and each game could have its own NFTs that link to the MCADE utility token.
Why should you invest in play2earn?
According to a BGA report, 1.4 million wallets are interacting with games daily. That number accounts for a huge 49% of blockchain usage.
Another report by Bloomberg said the global Metaverse revenue opportunity could approach $800 billion in 2024 vs. a previous estimate of $500 billion in 2020. The primary market for online game makers and gaming hardware may exceed $400 billion in 2024 while opportunities in live entertainment and social media make up the remainder.
Play-to-earn gaming was one of the hottest cryptocurrency sectors before the recent bear market and the race will heat up for the best metaverse game. Metacade’s arcade theme can tap into the metaverse with a thriving community for gamers and developers to earn rewards for gaming and creating. Metacade has the potential to be a very strong utility token offering and investors should look to take advantage of the presale.
You can participate in the Metacade pre-sale here.