The crypto gaming industry is expected to grow tremendously over the coming decade. Blockchain-based gaming has exploded by 2,000% since Q1 2021, according to Coindesk, and now, investors are seeking to benefit from this budding industry.
Two projects at the forefront of Play2Earn and GameFi are Polkadot and Metacade. Today, we’re going to explain how the tokens for these two platforms could help develop the future of gaming, and which one might offer the best potential in terms of investment.
Polkadot Has the Perfect Infrastructure for Play2Earn
Polkadot is an Ethereum rival that was launched to solve the issue of interoperability that has plagued the crypto ecosystem since its inception. Interoperability essentially means the ability to communicate and share information across separate blockchains. Polkadot remedies this issue by allowing users to build links between blockchains, both public and private, that can communicate in a fast, scalable, and secure way.
Because of these links, also known as parachains, games across Polkadot can run seamlessly – with low gas fees, high transaction throughput, and lightning transaction times: essential for any title in the crypto gaming industry. Already, Play2Earn games are being built on Polkadot that have incredible potential.
For example, DomiOnline is an MMORPG similar to Runescape and League of Legends, except for one key difference: players have ownership rights over their in-game items. This means that its users are actually rewarded for their time spent grinding to earn rare loot, and gives players the ability to sell their cache for real money outside of the Domi marketplace.
Another game, Polychain Monsters, sees players battling their 3D virtual monsters, known as Polymon, to win PMON tokens, which can be exchanged for real cash. Like Axie Infinity, Polymons are represented by their own non-fungible tokens (NFTs) and can be traded for a profit.
These two projects demonstrate Polkadot’s potential as a serious contender to support the crypto gaming industry. By combining elements of already successful games and implementing them through Polkadot’s robust infrastructure, DomiOnline and Polychain Monsters could be the start of something epic for Polkadot-based gaming ecosystems.
What is Metacade?
Metacade is an up-and-coming community hub that’s seeking to become the leading driving force behind the crypto gaming industry. Metacade’s platform is a virtual hangout for Play2Earn gamers, crypto enthusiasts, and developers to connect, earn, and contribute to the future of blockchain gaming.
To do this, they’re putting the community first from the ground up. This not only means rewarding users for their role in the Metacade community but allowing them to vote on games they’d like to see funded, helping users find work in the crypto gaming industry, and eventually letting the community govern itself.
These features are all designed to shake up the conventional, centralised video game industry. Instead of out-of-touch studio execs directing the future of decentralised gaming, Metacade aims to give the power back to the players and become the world’s first community-run virtual arcade.
What Is Metacade Doing to Revolutionise the Crypto Gaming Industry in 2023?
Rewarding Users for Their Role
As mentioned, Metacade plans to reward its users for contributing to the community. Every time someone shares a review, leading GameFi alpha, or content that helps new players better understand the world of Play2Earn, they’re rewarded with the MCADE token. There will even be opportunities to earn some extra cash by testing prototypes built by Metacade’s developer community.
Funding the Latest Titles
To fund the next wave of groundbreaking Play2Earn titles, Metacade plans to launch Metagrants. To win a Metagrant, developers must first enter their project idea into a competition alongside dozens of others. Metacade users then vote for the game they’d like to see developed, and the most popular idea wins funding from the community treasury. Eventually, Metacade plans to have a virtual arcade packed with the crypto gaming industry’s best Play2Earn games, as voted for by the Metacade community.
A Place to Find Work in the Digital Economy
In 2024, Metacade’s ambitious plan to launch a native job board will come to fruition. This will see cutting-edge Web3 companies, metaverse projects, and leaders in the crypto gaming industry offering work to the community through gigs, internships, and potentially full-time salaried roles. Currently, no central platform exists where all of these jobs can be found, and Metacade’s goal is to change that.
A Community-Owned Platform
Eventually, Metacade plans to turn its community into a decentralised autonomous organisation (DAO). This will see the Metacade team handing over leadership positions to members of the community, allowing holders of the MCADE token to vote on features they’d like to see developed – potential partnerships, and even the rate at which MCADE is burnt/bought-back. To secure this, they’re implementing multi-sig wallets, which will require two or more of Metacade’s trusted keyholders to sign off on any transactions made from the treasury.
Should You Invest in Polkadot or Metacade?
Both Polkadot and Metacade are two incredible platforms that will facilitate the rapid growth of Web3 and Play2Earn gaming over the next few years. But there’s a clear winner here: Metacade. That’s because the platform has added exposure gained from the rapid growth of the crypto gaming industry – which, according to Crypto.com, is expected to increase at 10 times the rate of traditional gaming over the next 3 years.
While Polkadot might benefit from this growth, it won’t be at the same level Metacade could be. It’s akin to investing in a promising company vs. the S&P 500; even if the index shows some growth, you’re always going to gain more from a company in a ballooning industry. For this reason, if you’re looking to invest in the nascent GameFi industry, then you should strongly consider Metacade as a serious contender to add to your portfolio.
You can buy Polkadot at eToro here.
You can participate in the Metacade pre-sale here.
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Image and article originally from invezz.com. Read the original article here.