Lately the news for Avalanche and the price of AVAX has been mixed. On the one hand, an increasing number of cryptocurrency apps are choosing Avalanche as their core blockchain protocol; however, Avalanche’s X and C networks have recently suffered brief disruptions. Meanwhile, Metacade has successfully concluded the presale of the MCADE token and now sees excitement growing for pricing on exchanges. But will it be enough to see MCADE outperform the price of AVAX?
Enthusiasm for MCADE grows with upcoming price on exchanges
Exchange listings are always an exciting time for any token because it means more cryptocurrency traders and users will learn about the token and perhaps decide to increase its price. Metacade’s recently launched MCADE token is expected to be priced on Bitmart in the near future, and listing on major decentralized exchanges, such as Uniswap, is also said to be around the corner.
The team behind Metacade is expected to announce the listing on several exchanges soon, some of which are in the top 10 in terms of trading volume.
What is Metacade?
Metacade is one of the newest decentralized gaming platforms that aims to become the premier destination for gaming in the metaverse. The platform is still under development, but will eventually offer users multiple ways to generate income, build careers in Web3 and connect with the broader gaming community.
Metacade is created on the Ethereum blockchain and will use the MCADE token as its native currency. The platform will allow users to earn MCADE tokens by playing games, participating in contests and contributing to the community. These tokens can be used to earn revenue from the Metacade platform through staking, to participate in tournaments with cash prizes, and more.
Eventually, the plan is to transform Metacade into a truly autonomous decentralized organization (DAO), which will put MCADE token holders in full control of the direction and governance of the platform. This will differentiate Metacade from all traditional, centralized gaming platforms already on the market.
How does Metacade work?
For now, Metacade is still in the early stages of development. The project is currently trying to get its MCADE token listed on the most well-known cryptocurrency exchanges, as its presale has only recently ended. The project aims to have MCADE listed on three to five of the top ten cryptocurrency exchanges by the end of April.
In the second quarter of 2023, the Metacade platform is expected to be launched with basic functionality, including an initial version of a DAO that will eventually take over the project. The key aspect of Metacade at this early stage of the project will be the launch of an online hangout for all things GameFi and Play2Earn Web3 gaming platforms.
Metacade has raised $16.35m from early-stage cryptocurrency investors. Perhaps the most interesting phase of Metacade’s development will be the launch of Work2Earn functions in the fourth quarter of 2023. In addition to Metagrants for game developers and job ads for the Web3 gaming community, Metacade users will also be able to get paid to test new gaming projects that collaborate with the Metacade community.
Will 2023 be the year of MCADE?
2023 could be an extremely good year for the MCADE token and for the Metacade platform as a whole. Although the first goal will be to get MCADE listed on major cryptocurrency exchanges and bring more liquidity into the system, there is a clear roadmap for providing valuable products and services to the Web3 gaming community that paints a bright picture for the future of this platform.
The tokenomics planning that has been done for MCADE has been outstanding, and it is clear that MCADE should see an increase in price as Metacade’s user base grows in size. MCADE is highly integrated into almost every aspect of Metacade’s economics, and token holders will be able to earn a portion of the revenue that comes to the platform through advertising, tournament entry fees in cash, job postings, and more through the staking feature.
Can the price of AVAX keep up with MCADE?
It is a bit difficult to compare AVAX and MCADE because they operate in two different areas of the cryptocurrency market. While MCADE is an ERC-20 token on Ethereum focused on the Web3 gaming niche, AVAX is the native token of a layer 1 blockchain, known as Avalanche, focused on expressive smart contracts.
That said, there are reasons to believe that MCADE will be better priced than AVAX in both the short and long run. First, those who buy MCADE today have the opportunity to be involved in the project early in its development. AVAX, on the other hand, has been around for years.
Another factor to consider is that, while both cryptocurrencies can be staked for passive income, those who stake MCADE tokens will be rewarded in value denominated in stablecoins rather than in other MCADE tokens. This means that, unlike those who are staking AVAX, MCADE holders will not dilute the value of the very token they are holding through the staking process.
There will be many growth opportunities for both cryptocurrencies when the bullish cryptocurrency market takes off in 2023, but when comparing the risks and potential rewards associated with these two coins, it seems clear that MCADE offers the best trade-off and will likely outperform AVAX this year.
You can purchase Metacade here.
*This article has been paid for. Cryptonomist did not write the article or test the platform.