Twitter’s new head honcho Elon Musk does nont disguise his love of cryptocurrencies. His backing of the meme coin Dogecoin caused a temporary hike in the price of DOGE. Some big name price charts are being published on Twitter, Bitcoin and Ethereum for example, in a move no doubt pushed by Musk to bring crypto to a broader audience.
What this means for the value of Dogecoin since Musk’s purchase of Twitter, Bitcoin and Ethereum in the coming months remains to be seen. However, it could prove good news for new cryptos such as Metacade, which has gained plenty of presale momentum generated by exposing a new generation of investors to the potential of new blockchain projects.
What is Metacade?
Metacade is a brand new experience in the burgeoning GameFi sector, with the platform hosting the metaverse’s first-ever virtual video gaming arcade. The project’s primary aim is to build the most extensive library of play-to-earn (P2E) video games anywhere in the metaverse, while building a community of gaming fans and like-minded enthusiasts together where they can hang out harmoniously and benefit from each others’ contributions.
As well as the vast P2E capabilities Metacade offers users, members also stand to benefit through other earning initiatives. This includes its Create2Earn scheme, where users are rewarded for contributing socially to the broader community. Rewards can be claimed for writing game rewards, sharing alpha, passing on gaming tips to other users, and contributing to live chats.
In addition, the Compete2Earn program allows users to stake the native MCADE token to enter online tournaments and regularly occurring prize draws with potentially lucrative rewards to be earned. These stakes are a source of revenue generation for the platform, some of which is reinvested into the projects, with the rest helping to fund gamer rewards.
How does Metacade work?
Staking forms one of the revenue generation streams from internal sources, with several contributions from external routes contributing to Metacade’s self-sufficient ecosystem. These include selling advertising space on the platform, charging external companies to release their games on Metacade, and charging Web3 companies to post job vacancies on its careers board from Q1 of 2024.
These revenue streams raise MCADE tokens, which underpin the entire Metacade platform and the various avenues for members to earn passive income. They also provide the source of one of the gems in the…