With the crypto market stuck in a rut, even popular tokens Solana and ApeCoin have struggled to offer investors any substantial gains over the past few months. With that in mind, investors have started to turn their attention elsewhere. One name that’s been circulating in crypto circles is Metacade, a new project poised to dominate the GameFi industry.
In this article, we’re going to examine what’s been going on with Solana and ApeCoin, and why Metacade could be a better investment.
Solana (SOL) Is Up Against One of the Biggest Tokens
Solana is one of many “Ethereum killers” on the crypto market today and is designed to solve the endemic issues facing the king utility token, namely transaction speeds. While Ethereum manages around 30 transactions per second (TPS), according to ethtps.info, Solana uses an innovative consensus mechanism that combines Proof-of-History (PoH) with Proof-of-Stake (PoS) to achieve speeds of 3,500 TPS with no issues. In theory, this number can rise to 710,000 TPS, as stated in Solana’s documentation.
Despite these incredible speeds, SOL has been lagging as of late. After rising nearly 18,500% from $1.40 to $260 in exactly one year, between the 6th of November 2020 and 2021, SOL has tumbled back to $30 and has been stuck in a range since June. Little bullish price action has presented itself since August, leaving some Solana investors disheartened with the lack of gains.
ApeCoin (APE) Could Move Lower Soon
ApeCoin is the native token of the Bored Ape Yacht Club (BAYC) ecosystem, one of the leading NFT projects of 2021 and 2022. After achieving mainstream success, Yuga Labs, the company behind BAYC, created a decentralised autonomous organisation (DAO) to allow the community to direct its future. Being an ApeCoin holder means you can vote on future projects, partnerships, board members, and more, as well as unlock exclusive features.
For all of BAYC’s hype, APE has underperformed since its launch in March 2022. After seeing a runup in late April to $27.57, APE has tumbled -84% to be worth just $4.42 today. Like SOL, APE has been stuck in a range since June. Now, it’s hovering close to support at $4.17 – an area it’s frequently visited. If this price breaks lower, more pain could be in store for ApeCoin investors.
What is Metacade (MCADE)?
Metacade is a metaverse project that’s aiming to capitalise on the tremendous growth GameFi is set to see over the coming decade. It’s a community hub for gaming enthusiasts, crypto fanatics, developers, and entrepreneurs to connect and make the most from Play2Earn.
Metacade’s vision is to build a platform that’s at the beating heart of GameFi, offering its users a chance to not only discover the unlimited potential of Web3, but to earn more from and direct the future of Play2Earn. Instead of letting billion-dollar game studios dominate the space, Metacade aims to put the power back into the hands of the players.
What Makes Metacade (MCADE) Unique?
Rewarding the Community
To encourage the community to be the ultimate resource for Play2Earn, Metacade plans to reward its users for their contributions with the MCADE token. Whenever you post reviews, share top tips, or even test games for Metacade’s developer community, you earn for simply sharing your expertise and making the community a better place.
Realigning Gamers and Developers
As the gaming industry moves ever closer to becoming beholden to shareholder interests and not what gamers genuinely desire, there’s a need for change. Part of Metacade’s ambition is to reestablish a direct link between gamers and developers to align their interests once again. Metacade’s native testing environment, leaderboards, and community forums will allow developers to tap into what their audience really thinks.
Creating Community-Backed Titles
But Metacade isn’t just creating a platform for gamers and developers to engage: they’re also funding the titles the community would love to see built with Metagrants. To win a Metagrant, developers must first enter their game idea into a competition for the community to vote on. The winner is allocated funding from the Metacade treasury, and the finished game is added to the platform’s virtual arcade alongside dozens of others.
Helping Gamers to Earn More From Their Passion
One of Metacade’s main objectives is to help people earn more from GameFi. While sure, you can top up your regular income by contributing to the community, employing Play2Earn strategies shared by others, or winning exclusive tournaments, these aren’t enough to replace real jobs for the vast majority. That’s where Metacade’s job board comes in. As part of its roadmap for 2024, Metacade is planning to host a wide range of exclusive jobs on its platform, from casual testing opportunities to full-time positions with the titans of Web3 to help those with talent get their big break.
Should You Invest in Solana (SOL), ApeCoin (APE), or Metacade (MCADE)?
While Solana and ApeCoin have built up a loyal following, neither project has the potential of Metacade. Solana, for example, is one of many Ethereum competitors that promise to solve this issue or that issue. At the end of the day, unless it can attract more users than Ethereum, it’s destined to fail.
ApeCoin is in a similar scenario. It’s a token that’s seen success from the NFT hype of 2021/2022. While NFTs do pose their own use cases, ApeCoin exists in a market of dozens of other projects that all serve the same purpose: to profit from the NFT hype. While this might work well when investor greed is frothing over, the model is unsustainable.
Overall, amid Solana’s frequent outages and an SEC investigation into ApeCoin, the future of these tokens is in question. Compare that to Metacade: a new project launching into a rapidly growing industry with plenty of features prospective users will find immense value in.
That sentence alone is enough to position Metacade as a potent contender for the future of Web3 and GameFi. The best part is, with Metacade still in presale, it’s seriously undervalued right now.
You can buy Solana and ApeCoin at eToro here.
You can participate in the Metacade pre-sale here.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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