Play-to-earn: A cryptocurrency sector with massive potential?
Play-to-earn (P2E) cryptocurrency projects were popular during the last bull run, with projects like Axie Infinity (AXIE) providing significant gains. These projects still hold immense promise in the upcoming bull market considering their profit-making potential.
Despite the bear market, new play-to-earn projects are emerging and developing. Also, Play-to-earn projects are a great way to make a profit in the current market conditions.
Being a fan of play-to-earn projects, I came across Metacade (MCADE) which is a Web3 community hub for gamers and blockchain enthusiasts to communicate and collaborate. It seems to be a new addition to the play-to-earn sector. If you have any knowledge of similar innovative projects, feel free to share.
As with most play-to-earn projects, the token supply for Metacade is massive at 2 billion MCADE tokens. However, Metacade has a deflationary token system that will gradually reduce its supply over time. In my opinion, the supply allocated to the presale is too vast, and once the early investors receive their tokens, it is likely to cause a crash in its price.
I will be happy to get your opinion about the project and the play-to-earn sector in general.
Link source: https://beincrypto.com/the-webs-largest-play-to-earn-crypto-arcade-metacade/
I don't think the supply allocated to the presale will have a serious impact on the project if the team continue to build and give investors the reason to hold. I also learnt that about 70% of the total supply is already in circulation at this nascent stage which speaks well of the project.