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How Projects Like Metacade are Getting the Spotlight as Axie Infinity Falls

Alice Davies

The cryptocurrency bear market has been hard on Axie Infinity. The play to earn adventure saw its token soaring last year as game-fi became one of the hottest sectors in crypto. The crypto bear market, a drop in users, and a recent hack have been the problem for Axie however. As the dust settles, investors are looking for emerging opportunities and Metacade is catching a lot of eyes on social media.

What is Metacade?

Metacade is a brand new Web3 community for gamers and crypto enthusiasts. Users can communicate and collaborate on games and also develop their own. The project wants to build an inclusive and fun hangout where gamers can play-to-earn, or just have fun. This will be the world’s first community-driven, P2E arcade, and Axie Infinity could have real competition for users.

Gamers can play trending games, join leaderboards, review titles, and get involved in governance votes for future developments. The MCADE token will be used for prize draws, gaming tournaments, and staking.

Problems for Axie Infinity

Axie Infinity was hurt recently by a $600 million hack of the Ronin Network, which supports the Axie project. It was one of the largest hacks in crypto history and led to some users pulling away from the project, while new users will also be driven to other gaming projects. At its peak in April 2021, Axie had around 2.7 million users. By September 2022, this had fallen to 110,000. The native AXS token had previously soared to $160 but currently trades at only $12. The project could still see a revival once the market recovers and gamers will hold many Axie NFTs that could be used for future collateral.

What makes Metacade unique?

The first thing that makes Metacade unique is the arcade theme that will bring the excitement of a multi-game house to the P2E community. For Axie, the problems with the game are driven by the fact that it only has one title and theme. Gamers are always looking for new challenges and as users disappeared from Axie, the earning part dwindled.

Metacade will keep gamers occupied because they can earn tokens on different titles in different genres. Just like when we look for a film to watch, we might want sci-fi one day and action another. With Metacade, players might have the time to sit down for a role-playing adventure, but on other days they might want a quick shoot-em-up or sports game.

The other benefit of the platform is that the Metacade token can be staked and investors will earn a share of revenues. That means that gamers will have a further reward from commitment, but passive investors can also benefit.

Why should you invest in Play to Earn?

According to a recent Blockchain Game Alliance report, 1.4 million wallets are interacting with games daily. That number accounts for a massive 49% of blockchain usage.

The metaverse is the next step for the P2E industry and NFT tokenization could explode when that develops. Big corporations like Walmart are already setting up their virtual premises and bringing their products into a digital world. It is a clear sign that corporate America has done its due diligence and sees the metaverse as the future of its brands. Until that develops further, investors and gamers can get access to a blockchain arcade in Metacade, and metaverse titles will ultimately be a feature when the time is right. Gamers should get on board and start stacking NFTs and MCADE tokens now.

Conclusion

P2E has emerged as one of the hottest cryptocurrency sectors and gaming is not going away. Axie Infinity has had its problems because of a hack but the real issue is that gamers want the variation to keep them motivated. Metacade will provide that variation, and a constant stream of new titles will mean that in-game rewards, as well as the MCADE token, will hold their value better than a one-game platform.

You can buy Axie Infinity (AXS) on eToro here.

You can participate in the Metacade pre-sale here.

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