As the messiest period of the bear market seems to be behind us, investors have started looking forwards once again. People are wondering which projects, and which sectors, could drive the industry towards the next crypto bull market.
Many are betting on GameFi and two projects that could play pivotal roles are Enjin and Metacade.
What is ENJ?
ENJ is the native cryptocurrency of the Enjin Network. With Enjin, developers can create or mint digital assets to be used in blockchain-based games. The way that it works is that ENJ tokens are locked within the game asset itself, which serves to provide instant liquidity when users trade the assets during play. For game developers, this can be extremely useful.
Fully-functioning in-game economies underpin the entire GameFi industry. For most blockchain games, every digital asset has a specific in-game utility. Players trade these assets in integrated NFT marketplaces to access new features and unlock unique customisable items. This blockchain functionality provides a natural way to generate liquidity, which can be used to provide crypto rewards to players for the time they spend in the game.
Before venturing into the blockchain space, Enjin was a gaming company founded in 2009. The Enjin Network was created to provide a simple method for developers to create assets on the blockchain, specifically for the purpose of gaming. Since blockchain games rely so heavily on ringfenced virtual economies, the kind of service provided by Enjin is crucial.
Locking ENJ in digital assets provides instant liquidity, which enables instant NFT trades. As well as this, ENJ is used to pay fees for transactions and smart contracts on the Enjin Network.
Pushing GameFi to new realms
Since its blockchain inception in 2018, Enjin has been actively driving the GameFi industry forward. By making blockchain game development more accessible, Enjin has enabled a new wave of online games that reward players in ways that were never before possible.
Now, platforms such as Axie Infinity and Splinterlands are some of the most widely-used applications built on-chain. In-game economies, such as those facilitated by Enjin, remain at the core of what they do. Today, the total value of all blockchain-based games is over $8bn.
As GameFi continues to shake up the wider gaming industry with its unique functionality, there are brand-new titles being developed that look set to attract a large following over time. One such project is Metacade – but this one works slightly differently.
What is Metacade?
Community Driven
Metacade offers brand-new features to GameFi enthusiasts. Gamers can get together and share their knowledge about their favourite titles, including all the tips for how to maximise crypto earnings and make the most out of the playing experience.
Not only can users connect with people on the same journey with the same kind of interests, but MCADE token rewards are also earned for providing value to the community. By sharing great insights and helping others uncover new ways to enjoy blockchain games, users will earn rewards in Metacade.
Play-to-Earn Opportunities
In Metacade, users will gain access to exclusive tournaments. These tournaments are hosted on the platform for a variety of top GameFi projects, and players can tune in, start playing, and earn lucrative rewards if they perform well.
As well as this, the Metacade community will be provided with unique job opportunities in Web3 in the future. As game developers build the latest play-to-earn titles, they’ll be seeking enthusiastic players who can test out the games before they officially go live. Metacade can connect players to exclusive testing roles directly on the platform.
Not only can players form direct relationships with the developers of brand-new games, but they can also earn MCADE tokens as a reward for testing and providing feedback.
Funding the Future
Over time, Metacade plans to become a decentralised autonomous organisation (DAO). MCADE holders can use their tokens to vote on governance proposals. The future of the project will be driven by the community, providing more power back to gamers and facilitating a more democratic approach to gaming.
One major element of this is the Metagrants program. Developers will submit their proposals to the community directly who will vote for the best ones and then the platform can provide financial support. In this regard, Metacade community members will be contributing to the future of GameFi on the most fundamental level.
Driving Progress and Making Gains
Enjin and Metacade are two independent projects that are each supporting the expansion of blockchain gaming to a large degree. GameFi continues to revolutionise the wider gaming industry with features that can’t be matched by legacy titles and it seems as though ENJ and MCADE will be key players as the sector approaches the global adoption phase.
For now, it seems that both tokens are underpriced. These bear market conditions can represent a prime buying opportunity, as one thing always remains true: great projects continue to build for the future regardless of current asset prices.
With ENJ sitting at $0.43, and MCADE just kickstarting its journey in the space with its presale event, these are the kinds of opportunities that people call once-in-a-lifetime after the expected explosion occurs.
Gamers are intrinsically attracted by the possibility of earning while playing and Metacade is offering a unique opportunity with its initial token price being set to only $0.008. Over time, this will increase, so it’s important to get in early to make the most gains.
You can participate in the MCADE presale here.