The cryptocurrency bear market has hurt projects like Decentraland and its MANA token. The project was trading at a total of around R$53 billion at its peak, but has now dropped to around R$5.8 billion. The project could take advantage of a major advantage in the metaverse, but investors should also consider the potential that Metacade (MCADE) has shown. This new project is being negotiated and ready to build a vibrant gaming hub with a community-led blockchain gaming arcade. The addition of a create-2-earn and play-2-earn ecosystem can further boost the MCADE token, which has the potential to be the best P2E project in the metaverse.
Analyzing the Metaverse
The gaming market and the metaverse suffered in the market downturn. On the other hand, that makes now the perfect time to enter. When companies like Facebook, disney and Walmart start to enter the metaverse, so you know there’s huge earning potential. Some estimates say that the revenue potential for the virtual universe is up to R$4.2 trillion by 2024.
Table of Contents
What is Metacade?
Metacade is exploding on the blockchain gaming scene as the ultimate community hub for gamers and game developers, who are helping to build the world’s first metaverse arcade. While many projects that combine games and crypto only feature one or two games, Metacade will have an entire library. These will be created by and for the players themselves to help foster a true community on Web3. The creation and development of the space will be driven by the community with the MCADE token providing governance votes on the future of the project. A create-to-earn dynamic will see developers rewarded with funding the best game ideas, while gamers will be able to test and review new titles. This will encourage the community to work together and make Metacade the best P2E project and game-fi destination. All this makes Metacade a completely new and disruptive idea when compared to similar projects.
Decentraland Price Forecast
Pricing for Decentraland will depend on the rate of adoption with the metaverse and also on the project’s ability to remain relevant amid stiff competition. A Bloomberg report mentioned that metaverse revenues could reach R$4.2 trillion by 2024. This is a huge market for the right projects, but Decentraland will have competition from corporate giants such as Meta Platforms and Disney. In the past, Decentraland had risen to R$26.46 per token at the end of 2021 after Facebook announced its move to the metaverse. That was a speculative explosion, however, and the coin dropped to R$3.18. Meta CEO Mark Zuckerberg has admitted that the metaverse will take years to develop and that means projects need to attract users along the way. Decentraland has sold enough of its LAND tokens and virtual land parcels, but users are free to build anything and that adds some risk to the project. If the metaverse delivers the revenues that Bloomberg predicted, the Price Forecast Decentraland is that the MANA token is traded at R$52.93.
Why should you invest in Metacade?
Metacade definitely has the potential to surpass Decentraland’s gains because it’s still an early stage project. The project is coming at just the right time to catch the metaverse as it’s evolving, but while it’s still not mainstream. The project is planning a huge marketing push in 2023 to bring developers and gamers alike to the project. This means that there is a small window of opportunity before the MCADE coin can move closer to MANA. To use Axie Infinity as an example, the coin rose to give the project a market cap of R$53 billion at its peak, having had 1 billion tokens available in the pre-sale. Nonetheless, Metacade will also benefit from being a multi-title platform and this could increase the potential valuation by 2x or 3x. And looking at it all together is why investing in MCADE should be on everyone’s radar.
Conclusion
The Decentraland platform has the potential to challenge other projects for the large revenues expected in the metaverse. However, the project has been struggling lately and may be overcome by Metacade’s disruptive efforts in the near future. Decentraland has little control over what is built on its land, but Metacade will be fully developed by a gaming community that will carry a sense of belonging there. Furthermore, bringing a multi-game arcade to the metaverse is a unique and brilliant plan that is sure to bring a huge gaming audience to the project. As such, the create-to-earn and play-to-earn dynamic could drive the price of MCADE and investors should look to get involved before the community rapidly expands.
You can participate in the Metacade pre-sale here🇧🇷
