Bear markets are the perfect opportunity to build a long-term investment portfolio in the crypto markets. One of the leading areas of blockchain development over recent years has been GameFi, and it remains a hub for long-term investment during 2023.
While Axie Infinity (AXS) has been one of GameFi’s highest performing projects in recent years, the Axie Infinity price has declined significantly. Meanwhile, Metacade (MCADE) has become one of the most talked about projects of the year within the GameFi sector.
Both projects have potential, but which of them represents the best long-term investment opportunity ahead of a crypto bull market?
Axie Infinity’s price suffers while Metacade’s starts to soar
The Axie Infinity price has fallen drastically following unsettling problems for the popular play to earn platform. In March 2022, the Ronin Bridge was hacked in the most costly exploit to ever impact a crypto platform. In total, $600 million worth of user funds were lost.
While crypto prices rose across the board at the beginning of 2023, the Axie Infinity price has remained stagnant. Furthermore, the Axie Infinity price is 95% down from its all-time high, which has led to fears over whether it can ever reclaim its previous price levels as a long-term investment.
In contrast, Metacade has been a favored long-term investment for GameFi enthusiasts in 2023. The MCADE token presale attracted $16.4 million worth of funding during its eight stages, with most fundraising rounds selling out completely.
Metacade’s comprehensive play to earn (P2E) experience has been a hotbed of long-term investment activity, while the Axie Infinity price has been somewhat disappointing.
MCADE has launched on two leading crypto exchanges, Uniswap and BitMart, with a further Mexc entry in May, resulting in over 2x profit in 48 hours towards the end of April for early buyers.
What is Axie Infinity?
Axie Infinity (AXS) is an innovative blockchain-based game built on Ethereum that combines collectible characters and pieces of land to form a vibrant world. Players can battle, breed, and raise their own “axies” – fantasy creatures minted as NFTs and collected by players as they battle PvP.
The native token, AXS, is used as a medium of exchange in the game. It is also used as part of a rewards system for achievements and given out in special events hosted by the project. Axie Infinity spearheaded the GameFi movement during the 2021 bull market and grew to become the most widely-used blockchain game before it was hacked in 2022.
Could AXS reach $66 in 2025?
The Axie Infinity price underperformed during the bear market rally of 2023. However, the next Bitcoin halving is scheduled to take place in March 2024, which could lead to a fully fledged bull market for GameFi platforms such as Axie Infinity and Metacade.
A long-term investment at the current Axie Infinity price could produce significant returns. Price analysts have highlighted key resistance levels at $66 and $104 as the Axie Infinity price targets its previous all-time high of $165. A long-term investment at the current $8 price level is expected to be profitable.
What is Metacade?
Metacade is building a giant blockchain gaming (GameFi) arcade. The platform will be home to the most extensive collection of play to earn titles found in Web3, with every gameplay experience offered on the platform having integrated financial rewards for players.
Metacade’s community hub will display all the latest trends in the blockchain gaming space and reward contributors in several ways. While most blockchain games, including Axie Infinity, offer only a single gameplay experience, Metacade plans to offer a vast selection of games with extensive levels for players to progress through.
How does MCADE work?
One of the MCADE tokens’ utilities is to pay rewards in the metaverse arcade, where players can play casually or competitively. Solo gamers can choose from a wide variety of games and earn MCADE tokens while trying to beat their previous high score. In contrast, competitive gamers can join paid entry tournaments to win substantial crypto prizes.
Metacade is also developing decentralized finance (DeFi) services for its community. This will include staking to earn a passive yield on investment (although currently sold out) and future voting privileges for MCADE token holders, who can vote and influence future project developments.
Metacade’s community hub introduces several additional earning mechanisms beyond the metaverse arcade. Among them is Create2Earn, which rewards content creators with MCADE tokens for their contributions to the platform. In addition, users can post game reviews, share the latest information about blockchain gaming, and interact with other users’ posts in exchange for crypto rewards.
Metacade will also have a jobs board that will connect gaming enthusiasts to paid job opportunities in Web3. The jobs board will advertise open positions at some of blockchain’s hottest start-ups, including part-time and full-time roles. As well as this, a feature called Work2Earn will create unique gigs, such as testing out new blockchain games before they are released to the public.
Could MCADE reach $2 in 2025?
The MCADE token rose from $0.008 to $0.02 through the presale, with a total 140 billion tokens being sold. This reflects the widespread demand for a comprehensive GameFi platform such as Metacade, and its representative crypto coin has since launched on leading exchanges and seen massive price action in April.
The MCADE token has embedded utility on the new platform and all-important deflationary tokenomics. In addition, long-term investment analysts have highlighted the vast potential of the new MCADE token, with some of them predicting possible gains of up to 100x should the price go to $3 by 2025.
Metacade vs. Axie Infinity price prediction: Which is the best long-term investment?
Despite the popularity of AXS in the past, the Axie Infinity price has suffered due to fundamental issues with the platform, such as the infamous hack. Metacade’s recent successes, on the other hand, have provided plenty of reason to be bullish as the crypto market exits the final stages of a multi-year bear market.
An investment in MCADE has huge potential during these market conditions. The platform is a massively exciting development in GameFi, and several analysts expect significant returns over the coming months and years. To find out more about how to buy MCADE, detailed information can be found on the Metacade website.
You can find more information, including how to buy MCADE, here.
Disclaimer: Insights provided by crypto industry players and is not a part of the editorial content of BanklessTimes.
