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The year 2023 has been billed by the crypto world as the year of cryptocurrency recovery. While many coins have reacted to Bitcoin’s (BTC) return well above $25,000, some have remained sluggish in performance and outlook. MANA’s price forecast is one example: many analysts expect the price of Decentraland’s native token to rise, but at a much more moderate pace than other cryptocurrencies.
One coin set to surpass Decentraland this year is the new GameFi Metacade, whose presale of the MCADE token sold out quickly, raising $16.35 million. MCADE was incredibly well received after its launch on the Uniswap and Bitmart cryptocurrency exchanges in April, and experts predict a bright future for a coin that could have an extraordinary impact on the GameFi industry.
Summary
What is Metacade?
Metacade has unveiled its plans to create the world’s largest GameFi community through its P2E (play-to-earn) virtual game room. The goal is to enable gamers to generate income while indulging their passion for gaming and chatting with like-minded gaming and cryptocurrency enthusiasts. The project’s approach will appeal to a wide range of different gamers, allowing Metacade to maximize its total addressable market (TAM) and use it to create the most comprehensive library of P2E titles, attracting a large user base.
As the project begins to develop its functionality and MCADE becomes listed on other cryptocurrency exchanges such as MEXC, its user base is likely to increase rapidly. These will have to use the MCADE token to access pay-to-play games and make transactions on the platform. Such extraordinary utility should make MCADE a highly desirable investment choice for anyone who wants to maximize profits as the project develops and as more players explore traditional GameFi.
Metacade’s whitepaper has been enthusiastically received by the cryptocurrency community as it outlines the platform’s plans to build a self-sustaining ecosystem. The excellent and well-thought-out decisions made by Metacade’s experienced project team show a rigorous plan that highlights their shrewd strategic decision-making. For example, Metacade’s reward system goes far beyond the traditional P2E capability of GameFi titles by incorporating several additional avenues for players to earn.
For example, players can earn rewards every time they make social interactions with the platform and post content. Cryptocurrency rewards are given every time they share an alpha version, post a game review, share tips and tricks of a game, or participate in online chats. This incentive is central to Metacade’s ambition to create a fully functioning and supportive gaming community.
Metacade’s tightly integrated token utility and likely unprecedented levels of user loyalty from its diverse offerings make it one of the most attractive new investments currently available.
How does MCADE work?
In addition to providing the medium of exchange for all transactions on the Metacade ecosystem, from purchasing merchandise to participating in tournaments, from accessing pay-to-play games to powering the full rewards system, MCADE is instrumental in providing the foundation for the functionality and maintenance of the platform. With a total coin supply limited to only 2 billion, the pressure will grow as more users flock to the forum.
One of the most interesting functions of the MCADE coin is to provide the impetus for one of the platform’s most pioneering features, Metagrants. The system aims to foster innovation from within by incentivizing developers to submit concepts for new games into a pool. MCADE coin holders review these submissions and vote on their favorites; the most popular will get funding. Metagrant then supports the developer throughout the production process to provide Metacade with a compelling new title to engage its existing members and attract new fans.
The devolution of voting rights is part of Metacade’s final transition to a full-fledged DAO, supporting MCADE in becoming a governance token. MCADE will also be available to staking, allowing users to earn income in exchange for token commitment to the platform and preventing dilution of MCADE’s token offering.
Decentraland (MANA) price forecast for 2023
Decentraland is not alone in seeing growth in the value of its native MANA token so far this year, with prices nearly doubling since the beginning of the year. However, since reaching $0.8388 in early February, it has declined significantly to its current value of $0.59.
MANA price forecasts for the remainder of 2023 estimate that its value may either recover, reaching as high as $0.889, or the price may struggle to recover from the doldrums.
Is MCADE a good investment?
Unlike Decentraland, Metacade is starting from scratch as an exciting new project in early 2023. In addition, MCADE had a solid presale that spurred investor interest as it listed on cryptocurrency exchanges.
Among Metacade’s recent announcements is news of its collaboration with MetaStudio, which is responsible for projects related to such giants as Pirates of the Caribbean and Kung Fu Panda. MetaStudio is expected to boost the project by contributing titles and helping to further increase the project’s exposure.
With the intense upward pressure expected for MCADE and the ever-increasing usefulness of the token evident with each feature released and the continued increase in users, there is tremendous potential for MCADE’s price to increase from its current price of $0.026.
With MANA price forecasts remaining low for 2023, public attention will be drawn to MCADE on cryptocurrency exchanges, making this new GameFi token one of the best investment opportunities of 2023 and beyond.
You can find more information, including where to purchase Metacade, here.
*This article was paid for Cryptonomist did not write the article or test the platform.
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