Metacade is one of the most hyped play-to-earn projects launching this year. With play-to-earn gaming set to have a fantastic 2023, some have wondered whether Metacade could overtake other community-based tokens like Decentraland.
This article will explore what could lead Metacade to overtake Decentraland and what the price of its native token, MCADE, would need to reach to do so.
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What is Metacade (MCADE)?
Metacade is an exciting new platform that’s aiming to be the ultimate community hub for GameFi. It’s a place for gamers, crypto investors, entrepreneurs, and developers to link up and immerse themselves in Web3 while exploring the best play-to-earn titles. The platform itself is packed full of valuable features, like leaderboards, forums, live chat, the hottest GameFi alpha, and a virtual arcade complete with titles directly influenced by the Metacade community.
Metacade’s goal is to become a transformative force in the Web3 gaming space by putting the community first at every step. The gaming industry has shifted towards extracting as much wealth from players as possible, from pay-to-win to skins you never really own. Metacade is a breath of fresh air in this industry, placing value back into the hands of the players with rewards, community ownership, and an exclusive developer funding tool known as Metagrants.
What is Decentraland (MANA)?
Decentraland is a 3D virtual world where users can build almost anything their imagination desires. It’s an entire ecosystem of collectibles, games, and virtual destinations generated by the community for others to use and enjoy. One of the fundamental aspects of Decentraland is being able to own and build on digital real estate, which is represented by LAND NFTs. These parcels of land can be traded on Decentraland’s Marketplace with MANA and on third-party platforms like OpenSea, typically fetching at least a few thousand dollars for a small patch of land.
Players interact in Decentraland with their avatars, which can be customised with a wide range of user-generated collectibles, like clothes, masks, and even unique emotes. Like LAND, these collectibles are stored as NFTs on the Ethereum blockchain, enabling them to be traded with the MANA token. Nowadays, Decentraland hosts dozens of events in the metaverse that would’ve been a fantasy just a few years ago, like parkour parties, a virtual Thanksgiving, seminars, and fashion shows.
Why Could Metacade (MCADE) Overtake Decentraland (MANA) in 2023?
One of the most hyped features of Metacade is its community reward aspect. To encourage players to share their knowledge through reviews, tips, and other content, Metacade rewards anyone who posts them with the MCADE token. Not only can you learn how to boost your play-to-earn income with Metacade, but you can also earn by simply offering your thoughts on the latest games you’ve been playing!
While Decentraland lets players shape the world around them, Metacade lets players shape the games they’ll be playing through Metagrants. This is a funding tool that allows the community to vote on which games they believe deserve to be built. To win a Metagrant, developers enter their ideas into a pool of competing projects.
The developer who wins the most votes is allocated funding from the treasury to get their game off the ground with the finished title added to Metacade’s virtual arcade. Eventually, Metacade plans to host dozens of these community-backed titles in its arcade where anyone can enjoy them.
Metacade is also aiming to transform how a traditional community gaming hub is owned and operated. Instead of centralised companies like Twitch and Discord deciding on the direction of their platforms, Metacade is letting the players choose. Once development of the platform is complete, Metacade will become a decentralised autonomous organisation (DAO). From here, community members will step up to take leadership positions and MCADE holders will be able to vote on the future direction of Metacade. In the process, Metacade will become the world’s first community-owned virtual arcade, built by gamers, for gamers.
What Would It Take for Metacade (MCADE) to Overtake Decentraland (MANA)?
As of late November 2022, Decentraland has a market cap of $710m, according to CoinGecko. Metacade will launch with a circulating supply of 1.4 billion tokens at $0.02 per token, giving it a market cap of $28 million. If Metacade increases 26x to $0.52 in 2023, then it will overtake Decentraland with a market cap of $728 million.
While 26x sounds like a lot, consider the fact that Decentraland launched at a similar price of $0.024 before making an all-time high of $5.85. That’s approximately 242x! Everything else being equal, Metacade would need to reach a fraction of Decentraland’s success to potentially overtake it at today’s prices.
Metacade (MCADE) Could Dominate Play-to-Earn Gaming
Above all else, the chances of Metacade overtaking Decentraland seem much better when considering the projected growth of the play-to-earn industry. According to Crypto.com, the play-to-earn market is expected to grow at 10x the rate of traditional gaming by 2025, at a compounded annual growth rate (CAGR) of 100%, making it one of the fastest-growing industries on the planet.
If Crypto.com is right, then Metacade could quickly become a leader in this field by providing a much-needed community space for play-to-earn gamers. And right now, there’s no better time to invest with the MCADE token still in its presale.
In fact, the earlier you buy, the better! That’s because in the first presale stage you can get 125 MCADE for $1. In phase 9, you’ll get just 50 MCADE for $1, meaning that you can potentially more than double your long-term gains simply by being one of the early investors in Metacade. Don’t miss out – it could be your best play-to-earn investment.
You can participate in the Metacade presale here.