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The FTX crypto scandal has dominated the latest crypto news headlines globally after the second-largest crypto exchange applied for bankruptcy in November 2022. FTX's former CEO, Sam Bankman-Fried, was arrested in the Bahamas and recently extradited to the US, where he pleaded not guilty to money laundering, wire fraud, and campaign finance irregularities. The FTX crypto crash compounded a year of market struggles following global economic uncertainty.
Investor confidence has slumped again on the news of the FTX crypto scandal, with bear market conditions continuing into 2023. One project that's learned from the mistakes made by FTX and is already gaining serious momentum, is the new metaverse gaming platform, Metacade. Here's how.
Metacade is a brand-new Web3 gaming platform striking at the heart of the GameFi sector. It aims to become home to the broadest array of play-to-earn (P2E) gaming titles in the metaverse, bringing together gaming enthusiasts to create a vibrant community of like-minded people. It will offer something for anyone who enjoys the best in classic arcade titles and new games, exclusively designed for the platform.
The P2E capability is the platform's primary attraction for gamers. However, Metacade's exciting and multi-faceted roadmap outlines several other earning streams for the community's membership. For example, users can earn crypto rewards by socially interacting on the hub, writing game reviews, sharing alpha, helping other users succeed in games, and participating in regular live chats as part of Metacade's Create2Earn initiative.
Metacade is designed to be a self-sufficient ecosystem that sees the constant generation of the native MCADE token, through several internal and external revenue sources. These in turn will be directed into the wallets of Metacade users, in the form of lucrative crypto rewards.
Gamers on the platform will be contributing through the Compete2Earn scheme, requiring them to use MCADE tokens to enter online tournaments and prize draws that offer some hefty prizes. They'll also use MCADE for paying to play pay-to-play arcade games, replicating the atmosphere of a real-world traditional gaming arcade.
Meanwhile, external revenue can be generated through the sale of advertising space on the platform to external companies and charging gaming companies to launch their titles on Metacade. From Q1 of 2024, Web3 and GameFi companies will be able to pay to advertise exciting vacancies on the Metacade jobs board as part of Metacade's ground-breaking Work2Earn scheme.
The icing on the Metacade cake is their innovative Metagrants program, which launches in Q3 of 2023 and brings together the Create2Earn and Work2Earn initiatives. New developers will be able to apply for crypto funding to support the creation of new Metacade-exclusive P2E titles.
Each submission enters a pool of applications and is presented to MCADE token holders, who can vote for their favorite concepts. The most popular ideas receive a grant that supports the creation, development, and testing of new titles before they are released on the platform. The first new game is expected to hit Metacade's hub in Q1 of 2024.
The potential of the Metagrants scheme is enormous, with the platform, community, individuals, and broader GameFi industry all standing to take active roles and reap the potential benefits.
Metacade itself gains top titles to help it evolve as the leading GameFi platform in the metaverse, attracting new users and retaining the loyalty of its existing users. Meanwhile, the Metacade gaming community benefits by receiving games it actually wants to play, as well as playing a role in their creation. Complete control of the platform's direction is left in the hands of game players, who arguably matter the most.
Developers stand to gain enormously by winning funding to help them bring their ideas to fruition while gaining essential real-world GameFi development experience, standing them in good stead to make the next step towards a full-time Web3 career.
All of this benefits the broader GameFi revolution by continuing to drive innovation. As developers compete for Metagrants, the most talented individuals will position themselves to advance their careers, applying for the Web3 opportunities listed on Metacade's jobs board. This mutually beneficial introduction will see GameFi companies gain the best new talent to innovate and take the industry forward while developers move to build exciting careers.
Metacade has learned significant lessons from the FTX crypto debacle and the latest crypto news headlines. It looks set not to repeat the mistakes of those that have gone before them.
The Metacade team has submitted itself and the platform's coding for a full CertiK audit to assure investors. This process ensures complete verification of the identity of Metacade's project team while validating the compatibility and safety of Metacade's code. The agile nature of Metacade's team allows them to respond quickly to resolve or mitigate any risk uncovered as part of the audit.
In addition, Metacade has taken significant steps to ensure the platform's financial security using a multi-signatory treasury wallet. No transaction can occur without the approval of at least two of the wallet's signatories, ensuring that no rogue element can empty the Metacade coffers.
These lessons have led to Metacade gaining enormous traction since the launch of the beta presale, which sold out in just three weeks. Momentum continues to grow during subsequent presale phases, with the current price of $0.012 rising through each stage to an eventual value of $0.02 at the presale conclusion.
With forecasters predicting demand for MCADE tokens likely to surge once the coin hits exchanges, the offering represents an excellent opportunity for investors shaken by the FTX crypto scandal to invest safely, and with strong potential for solid long-term gains.
You can participate in the MCADE presale here.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
