Metaverse-based projects are some of the most sought-after technology investments in the world today. The sector is a booming hub of innovation. Two examples of top metaverse projects are Decentraland (MANA) and Metacade (MCADE).
After an explosive run that saw the project gain 200x in value, Decentraland has underperformed in recent times. In fact, its early adopters enjoyed vast earnings. However, many are now jumping into the Metacade presale for a new opportunity.
What is Decentraland (MANA)?
MANA is the native cryptocurrency of Decentraland, a virtual reality ecosystem that runs on the Ethereum blockchain. The Decentraland community collectively owns a decentralised virtual world and anyone can participate by buying or selling MANA tokens. In the Decentraland metaverse itself, users can interact with each other and enjoy some amazing virtual creations.
MANA can be used to purchase metaverse real estate, as well as to create and trade a variety of digital assets. When a plot of land is purchased, users can build just about anything on top of it. A digital creation in Decentraland can then be monetised in a variety of ways. Some users have built places to chill and hang out, while others have created art galleries or hosted arcade games.
Unlike other virtual worlds like Second Life, Decentraland is not owned or controlled by any central authority. Instead, it is governed by smart contracts on Ethereum and by extension, all the people that own the platform’s assets. In this regard, it is a truly decentralised, open source and free virtual reality world.
The MANA token plays a crucial role in the ecosystem. Holding the token means you own a stake in the platform itself and it is used as the primary medium of exchange when users participate in the metaverse world and enjoy all the features it has to offer.
Major Institutional Interest, but the Platform Seems Incomplete…
While Decentraland has attracted vast amounts of investment from venture capitalists (VCs), the platform itself has struggled to attract widespread users. This has been especially true during 2022, as the total number of active wallet addresses has declined across the wider crypto industry.
At the end of October 2022, there were fewer than 600 active MANA token holders. This is a staggeringly low figure for a platform that has a total market cap above $1bn. While the platform offers some amazing features to users and has attracted significant investment from institutional backers, it seems almost incomplete without thousands of users needed to fill the virtual space.
It’s important to remember just how nascent the metaverse is. People that are involved in crypto during these early stages, especially within the industry’s subcategories such as open metaverse worlds, have a monumental opportunity to make the most out of early-stage projects before they fulfil their potential.
The Early-stage Edge
In terms of metaverse-based projects, there are some amazing opportunities that continue to surface. If you backed Decentraland from its inception, you could have made a 20,000% increase on your initial investment. Naturally, people are constantly on the lookout to uncover these kinds of projects. One such project could be Metacade and many are claiming that Metacade could be an even bigger opportunity than MANA.
What is Metacade?
Metacade is a metaverse that connects people across Web3 dApps and the GameFi space. Since Web3 represents the future of the internet itself and GameFi is at the very heart of an ongoing revolution in gaming, Metacade has extremely high potential.
Connecting the GameFi Community
Metacade enables GameFi enthusiasts to join a community of like-minded individuals and share all that they know about the latest blockchain games. If you like to earn crypto while playing games online, then Metacade offers a level of value that you cannot find anywhere else.
Metacade community members can gain exclusive token rewards for contributing in a number of ways. By rewarding users that share knowledge about the hottest titles and connecting people to brand-new ways to earn a crypto income online, Metacade has created an incentive system that could push the industry closer towards global adoption.
Finding (and Funding) the Next Big Thing in GameFi
Like Decentraland, Metacade is a community-driven initiative. The project plans to become a decentralised autonomous organisation (DAO) in the future, providing MCADE token holders with more power to influence the future of the industry itself. Not only can voters decide on protocol developments and new features within the Metacade metaverse but they will also gain the right to decide which GameFi projects get funding to develop brand-new play-to-earn titles.
The Metagrants program will connect new projects to an existing community of P2E gamers. These project developers will pitch their ground-breaking and innovative ideas to the Metacade community, who can then decide which games are the best. The winners of the Metagrants program can then start developing the next batch of high-potential blockchain-based games.
Early-Stage Opportunities
Unfortunately many missed the boat when it came to investing in Decentraland back in 2018. On the other hand, Metacade could represent a brand-new opportunity to make similar gains with the next bull market just over the horizon.
The MCADE token has just started its presale event, which is the earliest stage of them all. The project aims to drive forward the expansion of GameFi itself, attracting users with its integrated earning potential for community members and funding the next wave of blockchain innovators.
With so much value in the roadmap, people are lining up to get involved in the presale. In the short term, the token is expected to gain up to 100%. And Metacade’s long-term potential could be much, much higher than that. It’s initially being released for just $0.08, so now is the time to sign up for the presale and get involved.
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.
