As the race to grab hold of market share across the layer-1 protocol projects continues to rage on, many seasoned investors believe that Polkadot and its native DOT token might be the closest to dethroning Ethereum (ETH).
For those looking for the biggest gains, however, it’s a new project called Metacade that is generating the most serious attention due to its high potential and exciting price forecasts. Read on to learn more about the Metacade and Polkadot price forecasts.
Metacade is a cutting-edge platform that combines gaming and blockchain, bringing users together in a new kind of gaming community that will transition to a DAO (decentralized autonomous organization) governance structure over time.
It is designed to be a safe, secure, and transparent environment for developers to build games and users to play them. The platform has already had an incredibly successful presale, raising almost $1.5 million in the first four weeks.
There are a number of different revenue streams outlined in the whitepaper, which incentivize the adoption of the project by attracting different types of users in differing demographics. Play2Earn will generate revenue income for users through pay-to-play arcade games, while Compete2Earn will allow tournaments and competitive play to reward users through prize funds. Create2Earn incentivizes broader user engagement across the ecosystem, through users being rewarded for generating valuable content. Work2Earn expands earning opportunities to include game testing and a jobs board to help people find roles in Web3.
Metagrants are another thing that is exciting gamers about Metacade. The initiative provides funding to developers to build games on the platform. Developers will submit game proposals to the community and MCADE holders will vote on their favorite ideas. Winning proposals will receive funding and be released on the platform.
Metacade has an associated utility token called MCADE. MCADE is used across the platform as a medium of exchange and for staking and rewards.
MCADE Price Prediction General
As the MCADE token is so critically important to the Metacade ecosystem, there are a number of different ways that the price can be increased through demand. MCADE is used for all value exchanges in the ecosystem, such as for tournament entry fees, buying merchandise, and much more. So naturally, as the adoption of the Metacade platform rises, the value of MCADE tokens will rise along with it. This makes the Metacade prediction more optimistic than the Polkadot price forecast.
Given the expansive and well-considered roadmap from the Metacade team, it’s likely to see dramatic steps up in terms of adoption through 2023, and as a result, a 20x price increase seems to be more a question of “when” rather than “if.”
Should Metacade live up to its potential by 2030, the project’s market cap could far exceed that achieved by a project such as Axie Infinity (AXS) in 2021. With tokenomics that limit the supply to just two billion tokens, a conservative $20 billion market cap would yield a token price of $10 — more than 1,000x from the start of the presale.
Polkadot Price Prediction General
Polkadot (DOT) is a cryptocurrency and blockchain platform that enables users to launch and operate their own blockchains on top of the existing platform. It was created by Dr. Gavin Wood, one of the co-founders of Ethereum (ETH), as an alternative in light of his belief in sharding problems for Ethereum, although he recently stepped down as CEO. Polkadot allows for upgrades to be made on-chain and connects public and private chains with oracles.
The DOT token is used for governance, staking, and “bonding” of tokens. There is no max supply of DOT tokens, just like Ethereum, which means that it is an inflationary cryptocurrency without a scarcity aspect. The Polkadot protocol has seen successful ICOs in 2017 and 2021, raising more than $140 million.
Polkadot benefits from a passionate and active developer community with bullish Polkadot price forecasts; however, the lack of involvement in legal standards relating to interoperability means that the project is not likely to be picked up for enterprise interoperability.
After a poor period for the DOT price, it seems unlikely to rise dramatically by 2030, given that it already has a very high market cap and a wide range of competitors in the space. The limitations with regard to the number of parachains available also mean that the project is unlikely to meet smaller use cases effectively, which could cause issues. Despite this, it’s quite possible that if it can gain some market share, the Polkadot price forecast will see DOT reach its all-time high of around $50, or 10x in price, by 2030.
It will be no surprise to those who have reviewed the project that Metacade represents a rare chance to get in early on a truly disruptive project. Looking closely at the Metacade and Polkadot price forecasts shows the real difference between the projects. Stage 1 of the Metacade presale for the project is underway and demand is high, so it’s advised investors pick up some MCADE tokens as soon as possible.
You can buy Polkadot at eToro here.
You can participate in the Metacade presale here.
Disclaimer: Insights provided by crypto industry players and is not a part of the editorial content of BanklessTimes.