A recent study of the metaverse showed a startling lack of users in projects like The Sandbox. As it turned out, the data did not accurately reflect the whole story, but there has nevertheless been a general slowdown in user adoption across metaverse projects during the crypto bear market.
However, one new platform is trending in the opposite direction. Metacade (MCADE) is seeing significant interest in its ongoing presale. Its project roadmap outlines Metacade’s strong growth potential in the metaverse, united with the growing popularity of play-to-earn blockchain gaming.
Investors should have Metacade on their radars as a project like this has the potential to catch up with, or quite possibly overtake The Sandbox.
Metacade is looking to rub shoulders with projects such as The Sandbox in the virtual universe by launching itself with an exciting niche idea. The project aims to attract phenomenal game developers and a huge, motivated gaming user base to build a virtual arcade right in the metaverse.
Metacade offers much more than current blockchain gaming projects and has genuine potential to make Metacade one of the top metaverse cryptos. Many of the current metaverse games or incarnations are solitary, housed in their own limited worlds but Metacade is proposing to become the host of a wide range of titles. Its seemingly endless gaming variety has the potential to bring in a large user base.
Metacade will be driven by its community and the MCADE token will allow investors to take part in governance votes for the direction of the project. The token has a range of extra utility cases, including entry and winnings exclusive gaming tournaments.
Developers will be able to get grants, called Metagrants, for the best game ideas as voted for by the community. Gamers themselves will be able to test and review titles before they are accepted, even receiving rewards in the process. This will ensure the arcade is filled with high-quality games that gamers truly want to play. It’s clear to see that Metacade could become a blockchain gaming star in the virtual universe.
The Sandbox lacks user adoption
The Sandbox has been under heavy scrutiny recently over actual user numbers within its virtual worlds. One report stated that it had only 38 active visitors. The Sandbox later clarified that those users were counted by looking at interactions with wallet addresses and that the number was closer to 1,000 daily users.
While the actual visitor count is higher, it is still clearly a far cry from the type of adoption expected from the platform. More than $120bn was invested into metaverse companies in 2022, more than double the $57bn invested in 2021, according to a McKinsey research report. Of course, it could be argued that it is still early days for The Sandbox.
However, for a project with a $1 billion valuation after a surge in its token price last year, having only 1,000 users raises serious questions as to whether the platform has any real intrinsic value at all. The project could potentially still do well, but if history is any indicator of success, it seems unlikely that user adoption is going to increase sufficiently to see any big gains for the SAND token.
Savvy investors should be looking at early-stage tokens with true diversity such as Metacade, which has fundamental advantages over The Sandbox. For one thing, Metacade has not yet become mainstream but more importantly, it is a utility powerhouse in comparison to The Sandbox, with solid expansion prospects for the future.
More data supports P2E gaming and the metaverse
Statista said that gaming is a billion-dollar juggernaut, with annual revenue of a staggering $197 billion. The Web3 industry is now becoming a growing part of that, with blockchain technology bringing greater transparency to markets of in-game items and the overall gameplay.
The Sandbox data on daily users only reflects the early stages of the metaverse because the Axie Infinity game drew in 2.7 million users at its peak, so there is a clear market for blockchain gaming. A recent BGA report also said that 1.4 million wallets were interacting with games daily, making gameplay a whopping 50% of blockchain usage. The gaming sector has also played a big part in the rise of NFTs with in-game items and marketplaces.
The Sandbox was a hot crypto token last year as the project initially launched into the mainstream. However, with its $1 billion valuation and abysmal user numbers, investors should seriously consider whether it’s worth pursuing the project further.
Many switched-on investors are turning their attention to Metacade for the extensive growth potential it offers as we look to the future. The project is in its token presale at the moment, of which there are 9 stages in total, starting with an early bird deal of 125 MCADE for $1, although this will drop to 50 MCADE for $1 in the final stage.
While Metacade is still at an early point on its roadmap, the MCADE token looks extremely promising and could rapidly soar as the pieces continue to click into place. Big investment has been happening in the metaverse and Metacade is looking to leverage it with a resourceful project to attract a massive user base and potential meme coin gains.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.