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The last two years have been a struggle for Tron with the coin seeing a peak of $0.16 in 2020, and only touching $0.12 in the 2021 market high. The coin now trades at $0.06 after the recent bear market and still ranks as the number 14 coin, but investors can’t expect miracles from this project after years of stagnation.
On the other hand, Metacade has an exciting idea for the play-to-earn gaming sector and the utility token is currently in its presale.
Read on to find out more about the future paths for both these projects.
What is Metacade?
Metacade is a brand-new project which is seeking to create a Web3 hub for gamers and crypto fanatics to meet and collaborate. The ultimate goal of the project is to create the world’s first community-led arcade for play-to-earn (P2E) games in the metaverse. Users will be able to play trending games, view leaderboards, write reviews, and get involved in governance votes for the path of new games, as well as the platform itself. The native Metacade utility token will be used for prize draws, exclusive tournaments, and staking for rewards.
Why is Tron having problems?
One problem for Tron (TRX) this year was the creation of a stablecoin called USDD. The project got into the stablecoin market just a couple of months before the collapse of the Terra project and its UST stablecoin. Tron’s stablecoin slumped to $0.93 versus the dollar but has since returned to trade at $0.98. At the time of Terra’s problems, Tron was having to add collateral to keep the token afloat. Investors have now shied away from the decentralized finance market and after recent hacks and crashes, there is no institutional appetite for stablecoins.
What is a utility token?
A utility token is a cryptocurrency that is minted to serve a specific use case within a project. These tokens allow users to perform certain actions on the network. Utility tokens are not mineable because they are pre-mined and distributed to investors in a supply designated by the founders. In the case of Metacade, these tokens can also be staked to support the development of the project.
More on Metacade staking
One of the benefits of supporting the Metacade community by staking MCADE will be receiving a share of project revenues. It is rare for projects to deliver more than an annual yield and it highlights the community-owned aspect of the project.
Once those revenue streams are created, there will also be a token-burn mechanism or a buyback to lower the total number of coins in circulation. The total fixed supply at launch will be 2 billion MCADE and 1 billion of those tokens have been allocated to the presale.
What’s the roadmap for Metacade?
The Metacade project will focus on marketing into the first quarter of 2023 in order to grow the community. Developers and gamers will play a vital role in the project’s growth. MCADE will also be listed on Uniswap, which is an important feature for new coins. If Metacade can attract a strong gaming community and is accessible via large exchanges, the price of the tokens could rocket.
Later in 2023 will be the completion of a create2earn, play2earn, and compete2earn GameFi model. The project will stay fresh with a host of third-party games, tested by its community, but it will also hand out MetaGrants to developers with ideas for the best metaverse game. Once this project is developed then the sky is the limit with opportunities to purchase land in other metaverses and host the arcade where the largest footfall is.
Why does P2E have potential?
Coins like Tron want to appeal to serious developers and decentralized finance enthusiasts. Those sectors are boring and will be slow to attract new users after the DeFi sector rout. Axie Infinity has shown the potential of P2E. In 2020, the popular role-playing game had 15,000 Daily Active Users (DAU). Industry experts had doubts about blockchain gaming due to transaction speed and costs.
However, Axie’s daily users rocketed to 2.7 million at its peak and even the project’s developers were caught off guard. Metacade is bringing something new to the sector with a multi-game theme that has real social potential, a community-owned project, and metaverse potential. All of those themes can supercharge the price of MCADE in the coming months and even years.
Coins like Tron (TRX) just look really tired after the bear market. They have had their time in the sun but are not doing anything that is going to bring a huge community. The future of cryptocurrency is the metaverse and what could be better than merging virtual worlds with the hot P2E gaming sector. Once the Metacade development is in full swing then the MCADE token could be in high demand.
You can participate in the Metacade pre-sale here.
The post Tron (TRX) Struggles While Metacade Sails Ahead with MCADE Presale appeared first on Invezz.
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