Metacade price prediction as Chinese city unveils government-backed Metaverse platform

05/25/2023 03:52:29 ET

The

price of MCADE

Metacade’s native token, struggled below its final pre-sale price for most of May as the project prepared for the game development phase that would follow

Partnership with MetaStudio

.

At press time, MCADE was trading at $0.02127, up 1.11% over the past 24 hours. Although the token posted some gains, it was still a few cents below the final pre-sale price of $0.022. Still, there is a prospect that the token will generate significant profits due to its popularity

metaverse

Projects and their native tokens.

Metaverse platform supported by the Chinese government

Recently, the capital of China’s eastern province of Jiangsu, Nanjing, launched the China Metaverse Technology and Application Innovation Platform to boost Metaverse development and research across the country. The move is one of many other Metaverse developments taking place around the world as the gaming realm moves toward the Metaverse.

The state-backed Chinese platform is led by Nanjing University of Information Science and Technology (NUIST) and consists of founding members from several academic institutions and Metaverse-related companies across mainland China.

Nanjing and other Chinese cities are competing to become the country’s metaverse development hubs. The new platform comes months after the city of Nanjing announced its Metaverse strategy, which aims to create a thriving industry with annual sales of over $19.13 billion (135 billion yuan) by the end of 2025.

Shanghai, another Chinese city, recently unveiled its first collection of 20 Metaverse use cases, covering diverse areas including virtual health diagnostics and digital recreations of the city’s historic architectural landmarks.

What is Metacade and how has it evolved so far?

Metacade is a community-based platform

Blockchain

Arcade that aims to offer an extensive collection of play-to-earn (P2E) arcade games on a single Metaverse platform. It also aims to provide players with ample opportunities to earn crypto rewards in some of the most immersive blockchain gaming experiences.

According to Metacade’s team, the platform aims to become a central hub for the Web3 community that offers several unique earning mechanisms beyond gaming, designed to benefit gamers, investors and entrepreneurs, with the MCADE token being at the heart of the ecosystem.

One of the proposed earning mechanisms on Metacade is Create2Earn, which aims to reward content creators with MCADE tokens for bringing value to the platform, including posting game reviews, sharing the latest information about blockchain gaming, and engaging with the contributions of other users in the Community Hub.

On April 17, Metacade CEO Russell Bennett hosted the first Metacade AMA, which was followed by several more AMAs with the most recent

AMA took place seven days ago

and provides insight into Metacade’s plans for the near future.

So far, Metacade is widely considered to be one of the most exciting

cryptocurrency investments

in the growing GameFi sector. The Metacade presale raised $16.35 million over eight phases.

Since the pre-sale was completed, MCADE has been launched on several popular cryptocurrency exchanges, including

Uniswap

, BitMart and MEXC Global. As a result, the coin more than doubled in value, hitting an all-time high of $0.04569 on May 3, 2023.

Currently in the game development phase, the Metacade project has already signed its first partnership with MetaStudio, an innovative Metaverse development company. The MetaStudio partnership is game changing and aims to produce fresh and exciting mobile games for the Metacade arcade.

MetaStudio, which recently announced a partnership with Immutable

In order to strengthen the gaming metaverse industry, he is expected to bring a wealth of experience and expertise as he has been involved in various gaming projects and popular animated franchises such as How to Train Your Dragon, Kung Fu Panda and Shrek ” has worked.

Will MCADE Bounce Back Above $0.045?

Although investors may be skeptical about MCADE seeing any major price moves as the company has been struggling for most of May, Russell Bennett’s upcoming AMAs are expected to cause excitement in the crypto community .

The AMAs will shed more light on the project’s prospects and give investors a clear picture of what to expect from the Metacade platform and its native token.

In addition to the AMAs, the MCADE token has extensive utility on the Metacade platform, which is expected to be a key bullish catalyst to favor the short-term price action that may take the MCADE token above $0.045 by month-end leaves.

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Metacade price prediction as Chinese city unveils government-backed Metaverse platform

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