When looking at investing during the current state of the crypto market, it’s always important to focus on the strength of a project when making predictions and assess which aspects are more important than others. Whether it's the total market cap, past growth performance, utility, or future scope, all projects can appeal in different areas, but which are most significant?
This article addresses two metaverse projects of the moment. One platform is Metacade (MCADE), a brand-new project seeking to radically alter the traditional model of game development by creating a novel, virtual arcade packed full of blockchain gaming and metaverse gaming titles.
The Sandbox (SAND) is the other metaverse-building project that looks to do well if it can gain further adoption.But the strong bear market and great competition emerging could throw SAND into a freefall.
In this price prediction, we will look at the potential for both MCADE and SAND as we move into 2023.
What is Metacade?
Metacade is bringing a uniquely creative idea to the blockchain gaming and metaverse sector by establishing itself as a multi-game virtual arcade. This gaming hub will ultimately be led by the community who have the chance to vote on which developers will receive funding to build games on the platform, while gamers get an exclusive chance to both test and play them.
Over time, this metaverse is set to become the go-to gaming destination. Players will flock to the Metacade arcade to meet, earn money, and play a part in the future of Web3 and metaverse gaming. The create-to-earn and play-to-earn models present on the platform are an attractive way to motivate the community and boost their income. The MCADE token’s extensive use cases mean even passive users can gain a share of project revenues through holding the token and staking.
Essentially, The Sandbox is a metaverse project that sells parcels of land for virtual development. The project is known for hosting some ground-breaking metaverse events and could continue attracting diverse users from different industries.
The music industry has already embraced the metaverse with Snoop Dogg and Ozzy Osborne playing virtual concerts. The heavy rock band Slipknot has even created a KNOTVERSE experience for fans. These types of live events are really what the metaverse is allegedly about and The Sandbox has made a valiant attempt to play host to them.
SAND traded at only $0.03 in 2020 and rocketed to a high of $7.00 last year. The price now sits at $0.70, but clearly, investors have missed out on the earlier gains.
There have been some relatively outlandish predictions, as much as $800 billion for the project’s revenues, but so far, The Sandbox currently only has a valuation of around $1 billion. That gives room for a Sandbox price prediction target of $10-20 per SAND but it will depend on what direction the project takes. When or if such an increase could take place is virtually impossible to predict.
Metacade Can Bring the Same Price Surge
Metacade has the realistic potential to experience a similar surge to SAND, as it is a novel project still in the early stages of adoption. It currently remains under the radar - like The Sandbox once was when investors were just learning about the metaverse.
Metacade is already ahead of the game, however, and currently implementing a global marketing campaign running into 2023 to attract the best game developers and professional gamers.
The other important support factor for Metacade is its dedicated social element. In the case of Sandbox, users may attend a virtual concert for 1 or 2 hours per week, but where are they supposed to go after that? Metacade offers far more reasons to spend time in the metaverse.
Finally, for Metacade, the returns could be much bigger in 2023, due to its early-stage status and the great utility cases for the MCADE token. The option that gamers to vote on which games will be developed next will bring a lot of interested and like-minded people onto the platform.
To get some idea, the popular Axie Infinity game commanded a valuation of $10 billion at its peak. With a multi-title approach, MCADE could easily follow the same path, with the added bonus of starting at a much lower buy-in than Axie Infinity. It could even imply a price of $10 or upwards for MCADE, with solid potential for a meme coin-style surge due to its gaming user base.
Metacade and The Sandbox will both have a part to play in the future of the metaverse, but SAND has likely already seen much of its gains. It will need to see further metaverse adoption before it hits anywhere near its former highs.
MCADE can readily benefit from early traction on daily users and the community, and could rapidly catch up to the price of SAND. Investors ought to take the opportunity to invest before mainstream attention arrives. Fortunately, there’s a presale where savvy investors can do just that.
Available through 9 stages of the presale, Metacade is offering 125MCADE at $1 in its beta stage, with the price increasing at each stage. The final stage offering 50MCADE for $1. Clearly, early bird investors are going to want to look at this sooner than later and start preparing their portfolio for an arcade-centric 2023.
You can participate in the Metacade pre-sale here.
Disclaimer: Insights provided by crypto industry players and is not a part of the editorial content of BanklessTimes.