Some of the best alt coins have returned incredible profits in recent years. Metaverse projects like Decentraland and The Sandbox soared over 24,000% and 100,000% from launch to their 2021 peaks, respectively. Picking winners is more complicated than it seems, however, so exploring the key factors that could drive a project to success is vital for your portfolio choices.
Today, we're going to do just that and take a look at what could lead a new metaverse project called Metacade. Does it have the potential to become one of the best alt coins to invest in for 2023?
Metacade plans to build an inclusive, virtual hangout where Play2Earn enthusiasts, crypto fanatics, and game developers meet and play the latest games together. The team behind Metacade envisions a platform where users can go to meet like-minded friends, contribute to the future of GameFi, and discover the potential opportunities to earn in Web3.
One of Metacade's core philosophies focuses on community first, which means putting value back into the hands of the players. For instance, Metacade is implementing a system to reward users with its native token, MCADE, whenever they review or test a game. They also plan to introduce Metagrants, a way for developers to win funding – in turn to create Play2Earn titles across the platform, all voted for by a motivated community. These factors could propel Metacade to best alt coin status, as they bring a unique and fresh approach to the space.
After Facebook rebranded to Meta, the term metaverse became one of the hottest topics throughout late 2021/early 2022. It seems like every major company is planning to invest in the metaverse, from Microsoft to Nike. But why are so many betting on the metaverse as a source of future social interaction?
As Morgan Stanley puts it, "the metaverse will be the next generation platform to replace the mobile internet." They forecast that the metaverse will one day be worth $8 trillion. For perspective, it's currently worth around $50 billion as of 2021, according to Precedence Research, meaning that novel platforms like Metacade have plenty of room to grow, and could potentially be one of the best alt coins to invest in for the future of the metaverse.
As a relatively niche industry, at least when compared to the typical video game industry, finding the best tips to maximise your earnings from Play2Earn titles can be tricky. You might end up searching multiple forums just to come away empty-handed or become even more confused by the answers you do find.
Metacade plans to solve this problem by creating a centralised platform where you can log on and find reviews and leaderboards to help find the best Play2Earn titles at-a-glance. More experienced players will post the best GameFi alpha to further help get the most out of gaming on the blockchain.
To incentivise the community to keep up with sharing their thoughts or tactics for a new game, Metacade will offer its native token, MCADE, to reward users. Alongside staking, which generates a passive income for those that choose to lock up tokens in the economy, Metacade aims to put value back in the pockets of its users for their role in keeping the community an active, vibrant, and useful place to be.
One of the strongest reasons that makes Metacade potentially one of the best alt coins to invest in is the launch of Metagrants. Metagrants are a mechanism for allocating the Metacade community's resources to the most popular gaming projects amongst the platform's users.
Developers enter their ideas into a competition and let players decide which games they want to see developed, meaning that every idea, no matter how small the development team, gets its chance at success. Eventually, Metacade plans to have a whole library of games built and backed by the community within its virtual arcade – the first of its kind.
As investment in the metaverse and blockchain gaming grows significantly over the next few years, the number of opportunities for casual and long-term work in the industry will increase tenfold. However, as of 2022, places to find these opportunities are few and far between – unless you are already connected to the right people.
One of Metacade's goals is to create an equal playing field where enthusiasts can work and play on the same platform. You might be testing one of Metacade's latest games one day and applying for an internship with blockchain gaming's biggest development team the next.
At this early stage, it's impossible to definitively say that Metacade will be one of the best alt coins in years to come. That said, with its community-centric vision and ideas for value generation, it seems like Metacade is a project with a bright future ahead of it, and we are eagerly looking forward to see how it progresses.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.