While Canada fights Bitcoin mining, Play-to-Earn cryptos like Metacade gain popularity | Invezz

Canada has become the latest country to fight Bitcoin mining with the news that the city of Quebec wants to end selling cheap power to crypto miners in response to rising global energy prices. Government-owned Hydro-Quebec recently asked the provincial regulator to reallocate the 270 megawatts of energy previously set aside for mining Bitcoin. That equates to enough energy to power approximately 97,000 homes. Energy firms across Canada are now joining the fight against mining Bitcoin using their utility.

Although set to be another blow to crypto markets, following hot on the heels of FTX’s collapse, there is good news for new play-to-earn (P2E) cryptos like Metacade that looks set to succeed regardless due to not being reliant on Bitcoin mining to flourish.

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What is Metacade?

Metacade is a brand-new blockchain-based gaming platform that aims to build the broadest online choice of classic arcade games alongside the most exciting crypto-gaming titles with P2E capabilities. Metacade’s exciting project roadmap, found in its white paper, makes them look set to be a market leader in developing the future standards for GameFi development over the next few years in a sector that’s set to grow exponentially.

The P2E capability is the primary feature of Metacade’s pioneering online gaming platform, but far from the only one that’s likely to whet the appetite of gaming enthusiasts across the globe. Standing alongside its unrivaled P2E mechanics lay additional income opportunities from which community members can profit. Chief among these is the Create2Earn scheme, which rewards users for posting content on the hub. From game reviews to sharing alpha, even the simplest contribution to a forum or live chat is rewarded with crypto income.

Other routes for members to earn are the Compete2Earn initiative, where users can stake MCADE tokens to enter online tournaments and prize draws, and the Work2Earn program, which goes live in Q1 2024. This will allow community users to access the best-paid opportunities, gig work, beta testing, and full-time career opportunities across the GameFi and Web3 industries.

How does it work?

Metacade is aiming to be a self-sufficient, revenue-generating community with MCADE at the heart of all activity on the platform. Funds will flow into Metacade internally and externally. Gamers will contribute by accessing pay-to-play titles and entering competitions and tournaments through the Compete2Earn initiative. 

Meanwhile, Metacade will go out to the market to gain funding from advertisers. It will charge other gaming companies to use its launchpad tool to release titles on Metacade, and Web3 firms to post the most exciting vacancies in the industry on the hub’s job board.

Metacade: A GameFi pioneer

One of Metacade’s most unique features is its upcoming Metagrants scheme. From Q3 2023, developers within the Metacade community can seek grants to support their ventures in creating new playable content for the community to enjoy. They submit their applications into a pool, and the MCADE community will vote for their favorite ideas. The proposal that receives the most votes will go into production and will appear on the hub from Q1 2024.

While Metacade seeks to benefit richly from the constant evolution of the platform fuelled by the release of exclusive new P2E games that retain its current membership and grow it by attracting swathes of new crypto gaming fans, the gains provided by Metagrants will be felt throughout the GameFi industry. It may become standard practice for arcade platforms to invest in the games being developed for their communities, and also to draw from their communities for talent.

Metacade’s existing community wins by having autonomy over which games go into production. This community-led approach forms part of the platform’s transition to a fully-fledged DAO by Q4 2024 and puts online gaming fans in the box seat when selecting what they want to see on the platform.

Meanwhile, as developers gain essential work experience in the Web3 industry, external firms that advertise career opportunities on the hub’s job board stand to gain from the best, most exciting talent looking for full-time jobs. This will provide the wider Web3 sector with exposure to some of the most innovative minds in the industry, accelerating progress throughout the sector, which is set to experience enormous growth in the next five years.

MCADE primed to make excellent returns in 2023 and beyond

Due to Metacade being built on Ethereum, it is unaffected by the Canadian clampdown on bitcoin mining. With the MCADE presale event gaining substantial momentum since its launch, investors continue to flock to this presale of this online gaming platform ahead of potentially excellent gains in 2023.

The project raised $5 million in the 10 weeks on sale, an amount which has subsequently soared to $6.2m. After launching at $0.008, MCADE is now available at $0.014 and will continue to rise during the presale to an eventual value of $0.02. After this point, MCADE will hit decentralized exchanges and is predicted to increase in value, outperforming other coins affected by Canada’s crackdown on cheap bitcoin mining.

You can participate in the Metacade presale here.