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Metacade (MCADE), a fast-growing GameFi platform is doing well as the final stage of the presale token sale nears its end. Data from its website shows that the platform has raised $14.2 million, with 87.21% of tokens having been sold. Over 1 billion tokens have been bought, with only ~104 million remaining.
The rise of GameFi industry
The GameFi industry is expected to have a strong market share in the gaming industry in the coming years. Data shows that the sector was valued at ~$9 billion in 2021 and is expected to have a compounded annual growth rate (CAGR) of 27.3% to $38 billion.
The industry is seeing wide adoption, with a report by Messari showing that the number of unique active wallets (UAW) jumped to over 1 million. This growth has been helped by the rising incorporation of finance tools that make it possible for people to earn when they play.
As a result, most GameFi tokens have jumped sharply since their launch. Decentraland’s (MANA/USD) has jumped by over 4,500% from its all-time low while Axie Infinity’s (AXS/USD) has risen by ~4,000% from its lowest point in 2021. Blockchain gaming tokens have also outperformed other popular cryptocurrencies like Bitcoin and Ethereum.
Metacade presale success
The success of GameFi tokens explains why Metacade has seen significant success during its token’s presale event. Data published in its website shows that the developers have raised $14.2 million after selling over a billion tokens.
87.2% of all tokens have been sold and the MCADE price has continually jumped because of the rising demand. As the countdown to the final day of token sale nears, the price could continue rising.
According to Metacade’s white paper, the next stage after the ongoing token sale will be listing the token in key platforms like Coinbase and CoinGecko. They will also work to list the tokens in key centralized exchanges like Binance and OKX and then start building the Metacade platform.
Metacade price prediction
A common question among readers is whether Metacade price will rise or fall after its token listing. Like other digital currencies, it is hard to predict whether Metacade will become a successful platform. As such, it is not possible to predict whether MCADE will be a good investment but if it suits your portfolio you can take part in the presale here.
In the past few years, we have seen the twist and turns in the performance of digital currencies. In fact, the industry is attempting to move from one of its longest crypto winters on record.
The future price action of MCADE will depend on a number of factors. The primary catalyst for the token will be the development of the platform and its popularity among users. MCADE performance will also depend on the broader performance of other cryptocurrencies. In the past, we have seen a close correlation between digital currencies.
Metacade’s white paper and the success of its token sales show that there is indeed a lot of demand for its token. As mentioned, it has already raised over $14 million while the token’s price has jumped to $0.02 from $0.0185 in the previous stage.
There are other factors that will influence the Metacade price in the future. For example, monetary policy by the Federal Reserve will have an impact on the price. In most cases, as we saw in 2022, cryptocurrency prices dropped as the Federal Reserve hiked rates by ~400 basis points.
What is the future of Metacade?
Metacade’s final token sale will end in the next few days. This will be followed by the development phase of the gaming platform and listing it in key exchanges like Binance and OKX. In the second quarter, the developers will launch Metacade’s platform, create partnerships with established projects, and grow its centralized exchange listings. Also, the white paper notes that the developers will launch the basic DAO model for the community.
As a platform, Metacade’s future will depend on the number of active users in the platform and the evolution of its DAO.
The post Metacade price prediction as the token sale hype continues appeared first on Invezz.
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