Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The global GameFi market grew enormously in popularity during the COVID-19 pandemic as gamers turned to new ways of socializing with friends while playing games. That boom has exploded since global lockdowns have eased to a point where experts predict that the blockchain gaming market will grow from $4.6 billion to $65.7 billion by 2027 – an annual growth rate of more than 70%.
Crypto gaming investors have quickly jumped on the GameFi bandwagon, backing one of the several play-to-earn (P2E) platforms predicted to go big over the next five years. One project that has recently captured the imagination during its presale event is Metacade.
What is Metacade?
Metacade is a brand-new crypto gaming platform that uses the power of blockchain gaming to host the broadest range of P2E titles in the metaverse. A community-driven hub, Metacade will bring together online gamers of all types – from those casually wanting to beat their mates in a PvP duel to the seasoned online tournament gamer – in one place where they can hang out, find the hottest new P2E games and earn crypto rewards as they play.
The wide-ranging and ambitious white paper sets out Metacade’s plans to become the leading name in the GameFi industry while driving sector-wide innovation and capturing a substantial piece of the ever-growing blockchain gaming industry as their own.
Metacade’s multi-faceted earning streams alongside the primary P2E mechanism are a critical facet driving the platform to the head of the GameFi sector. Among these initiatives is the Create2Earn scheme, where users are rewarded for social interactions with the hub, including providing alpha, writing game reviews, sharing tips, and contributing to online chats.
How does Metacade work?
Metacade is fuelled by the native MCADE token, which underpins everything to do with the platform while acting as the currency that fuels the platform’s self-sufficient ecosystem. MCADE tokens are required for users wanting to purchase Metacade merchandise or to play any of the platform’s pay-2-play games.
Income from these pay-2-play titles is one source of revenue generation that funds the platform. Community users can also contribute through the Compete2Earn scheme by staking MCADE tokens to enter online tournaments, and prize draws with the chance of earning a share of lucrative prize pools.
Additional revenue streams are generated from external sources. These include advertising on the hub, the launchpad program whereby other companies pay to launch their games on Metacade, and charging Web3 companies to post job vacancies as part of the Work2Earn initiative, which will form another vital part of Metacade’s drive for GameFi innovation.
Metacade: Driving GameFi forward
Metacade’s ground-breaking Metagrants scheme is an initiative that seeks to support talented developers in the creation of new exclusive titles. Developers are encouraged to submit ideas for new games to the community of MCADE token holders, who vote on and select the games they want to see on the platform. Those submissions with the most votes are awarded funding to support their design, development, and eventual launch.
Metagrants launches in Q3 of 2023 with its first round of funding, with the first titles hitting the platform in Q1 of 2024. The scheme is just one of the many community-led facets set to attract gaming enthusiasts to the venue in their droves since they have control over which games see the light of day, unlike in PC and console gaming, where they’re at the mercy of the whim and fancy of gaming studio executives.
The Metagrants scheme will eventually feed into the Work2Earn plan, which is due to go live with a job’s board in Q1 of 2024 and will host the most exciting Web3 opportunities in crypto gaming and the wider metaverse. While these opportunities will be attractive prospects for developers who have benefitted from receiving Metagrants, there will also be gig opportunities for gamers to provide beta testing for new games.
These initiatives tie together to provide the impetus for the GameFi industry to develop, grow and take advantage of the latest Web3 developments.
Metacade: Part of the crypto gaming revolution
Metacade has already captured the imagination of investors familiar with play-to-earn gaming since the recent launch of their presale event. The presale stages are continuing to sell quickly, and Metacade has stormed forward to raise $4.9m, meaning that the current price of $0.013 will soon increase as this stage ends and the next begins. After launching at $0.008, the value of MCADE will rise to $0.02 by the conclusion of the presale.
With the enormous projected growth in the crypto gaming arena over the next five years and Metacade’s attractive vision and community-driven approach putting them in a prime position to be a leader in the development of the industry, there won’t be a better time to invest in MCADE at such a low price. Demand for MCADE coins is expected to surge after the presale, which will likely drive the price higher in the short term and potentially sky-high by 2027.
You can participate in the MCADE presale here.
The post Metacade: The hottest P2E investment to ride the GameFi wave? appeared first on Invezz.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.