On Friday, November 11, FTX, the second-largest cryptocurrency exchange, caused a major surprise in the markets when the company confirmed that it had filed for bankruptcy. A takeover proposal by FTX’s main competitor, Binance, failed to materialize, causing markets to tumble after the last cryptocurrency hit in 2022. FTT tokens lost $2 billion in market value and around 10% ($100 billion) of the crypto market capitalization.
Although the impact of the FTX crash extends far beyond the customer base, there are still great options for investors. One of them is Metacade. Here’s why the MCADE pre-sale could be interesting for investors.
Why FTX Crashed
The FTX crash was triggered by a wave of client withdrawals that left an $8 billion balance sheet deficit. As a result, the majority of the platform’s 1 million customers lost access to their funds. FTX’s main competitor, Binance, then announced its intention to save FTX. However, after the discovery of the hole in the balance sheet, the trigger was pulled because it was not possible to provide the necessary liquidities.
The desperate search for a new White Knight has failed, and FTX CEO and Founder Sam Bankman-Fried admitted on Twitter that he made mistakes and “should have done better.” After filing for bankruptcy in the United States, Bankman-Fried was replaced as CEO of FTX. Now, it remains to be seen what the future holds. However, experts agree that this is a similar shock to markets as the 2008 global financial crisis.
Metacade is a cryptocurrency that seems well positioned to weather the current storm in the markets. Other projects like Avalanche, Cardano or AMP.
Metacade is an online virtual video arcade within the Metaverse that aims to put the power of gaming back from the hands of the big game companies into the hands of those who matter: the gamers. Metacade will house one of the most comprehensive offerings of game titles in the Metaverse, appealing to both casual and experienced gamers.
While the gaming experience and the players are at the heart of Metacade’s philosophy, the many multidimensional aspects of the platform promise a certain longevity. Metacade is a platform where developers can bring their ideas to life. Developers in need of funding can apply for metagrants and MCADE tokens that community members vote on. Only projects that add value to the platform will be implemented.
There are various other ways for users to earn money on the platform. Players who interact through User Acceptance Testing and Developer Feedback can earn MCADE Tokens. Additionally, users can earn money by writing reviews.
Other plans for the platform include the creation of a careers hub that will allow users looking to break into the world of gamefi development to find jobs at leading Web 3.0 companies. These features will allow Metacade to become a fully integrated DAO, with control and power transferred from core developers to respected members of the community.
Why MCADE Presales Could Grow Significantly
The FTX crash has severely shaken investor confidence in cryptocurrencies. However, there are reasons to be optimistic in certain areas, especially in the area of crypto tokens that point to a bright future, such as Metacade’s MCADE coin.
Metacade’s well-thought-out roadmap and multi-layered platform offer excellent long-term potential for investors. The company plans to put the future of the platform in the hands of users and build a self-sustaining economy that will allow a continuous flow of funds from investors and advertisers into the wallets of developers and gamers.
Several other GameFi offerings depend on one or a small selection of titles to survive. The wide range of titles and social interactivity of Metacade means that the community must always be able to evolve with the changing needs of members and the market. This level of certainty gives investors more confidence in Metacade than they have in the entire crypto market since the FTX crash.
The FTX crash undoubtedly had an impact on the crypto markets, shaking investor and market confidence. However, new projects still in presale, such as Metacade, have been immune to the tax impact of bankruptcy.
There are nine phases of the MCADE presale, each of which increases the price. The price starts at 125 MCADE for $1 and then goes up to 50 MCADE for $1. This means that the first investors are guaranteed a return on their investment at the end of the presale.
This, coupled with the exciting track record, means buying Metacade during the presale could be the perfect investment in the current market uncertainty.
You can here take part in the Métacade presale.
Disclaimer: Information provided by crypto industry participants and not part of CryptoMonday editorial content.