It seems like there is a new headline about faux pas Twitter’s new CEO Elon Musk makes almost every day — from sending an email demanding the employees commit to Musk’s “hardcore” culture, where they are expected to work “long hours at high intensity,” to his controversial connections with polarizing political figures to his refusal to pay rent on his office spaces.
It’s unclear what impact, if any, this will have on Musk’s favorite crypto project, Dogecoin. But with his attention elsewhere and the Dogecoin price predictions looking poor, many are focusing their attention on an innovative new project revolutionizing the gaming space, Metacade, which is making waves after announcing that its beta presale round raised more than $1.12 million in just three weeks and is storming quickly toward hitting $2 million.
Read on to learn why the disruptive newcomer Metacade seems to buck the crypto market trend and looks set to continue to see its price climb.
What is Metacade?
Metacade is an innovative new GameFi project that has set its ambitions on dramatically improving the gaming industry using Web3 technology. It centers on a unique community hub that allows gamers to connect, play, and collaborate with one another.
A key feature of the Metacade ecosystem is the massive play-to-earn (P2E) library it is building, providing gamers with a way to earn an income while they play their favorite games. Metacade also offers rewards through other user actions, such as playing in competitive gaming tournaments and contributing to the platform in different ways.
The Metacade team’s strategy includes multiple revenue streams, including staking, which enables the project to become a sustainable platform that allows users to generate a passive income by holding the utility and governance token MCADE.
The project also takes an active role in pushing forward the depth of the ecosystem, with game developers able to apply for funding for their projects through a feature called Metagrants. Token holders can then vote on their preferred projects to determine the distribution of funding — just one signal of the governance rights the token holds even before the planned transition of the project to become a decentralized autonomous organization (DAO) by the end of 2024.
How does Metacade work?
Metacade is powered by the MCADE token, and the utility the token provides is far-reaching. Beyond its use for staking, the token is used throughout the ecosystem for rewards and plays a key role in almost every user action as a medium of exchange.
To use the Metacade arcade, buy merchandise or enter competitive tournaments, users need MCADE tokens, and so as adoption of the platform rises, so with the demand for MCADE in order to use the platform.
The holistic approach taken by Metacade adds a lot of potential to the project, with initiatives like Metagrants having a direct secondary benefit by increasing the amount of Work2Earn opportunities there are for alpha testing. The W2E initiative also offers Web3 jobs and internships. Dogecoin lacks any of this kind of utility, which is a reason that recent Dogecoin price predictions look poor.
Why is Metacade’s presale so popular thus far?
The Metacade whitepaper details the project’s roadmap and shows the potential of the undertaking. While most GameFi projects are limited in their scope and lack incentives for the users to contribute to growth, Metacade has clearly thought very carefully about how they can evolve and grow.
Metacade also leverages the Ethereum network for security, with MCADE meeting the ERC-20 standard. Not only this, but treasury accounts use multi-signature security to ensure their security. At the same time, the entire project has been submitted to respected Web3 auditor Certik in order to provide further reassurance to backers.
With so much potential, many investors see Metacade’s presale as an opportunity to get in early on a project destined for success. The project’s small team means that it can be much more agile than a huge behemoth — like Musk is finding at Twitter.
In addition, Metacade investors can also be reassured by the plans to transition into a DAO by the end of 2024. This is true to Metacade’s vision of being a platform run by gamers, for gamers, and as a result, investors are even more comfortable taking advantage of the amazing presale prices.
Is MCADE a better investment than DOGE?
While the Dogecoin project and the token DOGE are much more well-known, this is actually in Metacade investors’ favor and could be a reason behind a bearish Dogecoin price prediction. With a very high market cap, it’s very difficult for DOGE to continue to rise, and with Musk’s hands full for the foreseeable future, it’s unlikely to rise up to the highs seen briefly in 2021.
In contrast, Metacade offers an incredible chance to get in early on a project that shows signs of dominating the GameFi space in the future. The presale also comes with MCADE prices that are much lower than they will be in the future, likely locking in gains for early investors.
With nine stages of the presale ahead of its first major CEX, the Bitmart exchange, MCADE tokens offer incredible value at just $0.01 each in the current stage. It’s clear that Metacade is one of the best investments in crypto as a whole, let alone in comparison to Dogecoin.
You can buy Dogecoin at eToro here.
You can participate in the MCADE presale here.
Disclaimer: Insights provided by crypto industry players and is not a part of the editorial content of BanklessTimes.
