Non-fungible tokens (NFTs) have proven extremely popular with crypto fans, with projects like Yuga Labs’ Bored Ape Yacht Club (BAYC) capturing the imagination. Meanwhile, other platforms, such as Decentraland and The Sandbox, have recognized the value of adding NFT art to their metaverse worlds in the guise of exhibitions to attract new users.
New GameFi project Metacade is the latest platform to consider adding NFT art to its platform, with experts asking whether doing so could further increase investor interest in its native MCADE token and drive the price higher.
How could NFT art help Metacade?
When done well, there is money to be made with NFT art. The most expensive NFTs have reached between $50 million and $100 million. For budding artists, producing NFT art is an excellent way of showcasing their work in front of a whole new audience while offering them the chance to monetize their creativity.
Metacade’s ethos is to empower individuals and promote creativity, as shown with their groundbreaking Metagrants scheme. Providing a platform for new NFT art creators could offer another potential audience stream. NFTs are also going to be used increasingly in play-to-earn (P2E) games. Metacade will not find itself displaying or selling anything to challenge the most expensive NFTs. Other platforms, such as BAYC, have shown that NFT art can build a solid and dedicated following.
What is Metacade?
Metacade is a brand new project in the GameFi sphere that gained significant momentum during its successful presale event, raising $16.4 million before listing on leading exchanges Uniswap (at $0.022) and, more recently, BitMart. A further listing on MEXC will take place in early May, while leading crypto sites CoinMarketGap and CoinGecko have also added MCADE to their sites.
The primary offering of Metacade is to provide crypto fans, gamers, and developers a space where they can hang out, collaborate, and unite under a common goal, to help Metacade become a pioneer in the P2E gaming industry. The platform’s wide-ranging feature list includes live chats and forums in its vibrant social community, the world’s largest virtual arcade, and a careers board as part of its much anticipated Work2Earn initiative.
The ecosystem will be fueled by Metacade’s native MCADE token, which powers the platform’s comprehensive rewards system and provides a medium of exchange. It offers coin holders extensive utility and, in 2024, full governance voting rights. In addition, users can earn MCADE tokens as a reward for contributing to the building of the community each time they post social content to the hub.
Why are investors flocking to Metacade?
While the extraordinary speed at which MCADE sold out its presale is one reason behind the rate at which investors are flocking to Metacade, other innovative features, such as the pioneering Metagrants scheme, are contributing to maintaining the momentum. In addition, developers are encouraged to apply for crypto funding to support their ventures in designing new, exclusive titles for Metacade; They are invited to submit their ideas, which the Metacade community votes on. The most popular can be awarded a grant from the central treasury and go into production.
Metacade has been quick to establish a partnership with a reputable gaming studio, MetaStudio, which has recently enjoyed success collaborating with Kung Fu Panda and Pirates of the Caribbean and is now bringing its expertise to the virtual shelves of Metacade. Such partnerships will likely help Metacade drive user retention to unprecedented levels while attracting more new members to the platform to increase its community.
Finally, recent developments in support of MCADE’s listing on Uniswap and BitMart are contributing to this upstart platform’s roaring success. For instance, Metacade filled its 250 million token staking pool in less than five hours, allowing its lucky members to earn passive income as the platform develops and releases exciting new features.
Early investors who reserved their MCADE tokens during the beta presale phase at $0.008 have already seen a jump in their holding of around 125% at the time of writing. With features coming throughout the year and other listings to come, the value of MCADE could increase rapidly, potentially even breaking the $0.50 barrier by the end of the year.
With or without NFT art, MCADE could be a viable investment opportunity
It’s questionable whether Metacade needs to add NFT art to achieve success. While they may strike gold and collaborate with someone that might produce one of the most expensive NFTs ever, the platform’s interesting and ambitious whitepaper has more than enough exciting features and ideas to grow into an enduring success in its own right.
That said, NFT art has a history of enhancing a platform’s appeal by widening its total addressable market (TAM). With this being a stated aim of Metacade, any expansion into NFTs is only likely to enhance the platform’s desirability to a broader audience.
Whether or not Metacade eventually decides to go down the NFT art road, the platform has a bright future that will likely prove profitable for investors purchasing MCADE tokens. With the project still in its infancy, a rich toolkit of features being released throughout 2023, extensive token utility, and a transition to becoming a DAO in 2024, MCADE looks to be a very promising investment for the coming months and years.
You can find more information, including how to buy MCADE, here.
