- Kraken loses its SEC lawsuit challenge in far-reaching defeat
- Crypto staking giant forced to pay $30 million and close down staking services
- Metacade’s presale powers forward with increasing momentum
Crypto markets have been shaken again, this time by the news that popular crypto staking service Kraken has lost the lawsuit brought against it by the US Securities and Exchange Commission (SEC). The suit alleged that its crypto staking-as-a-service program was offering unregistered securities in the US. Kraken has been fined $30 million and is closing down all of its U.S. staking services.
What this means for crypto staking longer term as a means of earning passive income remains to be seen, as the fallout from this case becomes more apparent. However, one clearly unaffected currency belongs to the brand-new online gaming arcade Metacade, which continues to rally against market forces during its presale event.
Metacade exceeds expectations in presale event
The GameFi platform Metacade continues to excel during its presale event, particularly considering the prevailing bear market conditions that continue to dog currencies across the board. After launching at the end of 2022, Metacade’s native MCADE token has garnered seriously tangible interest, with investors flocking to this exciting presale and helping to raise $14.7m in just 18 weeks.
With MCADE tokens continuing to sell at an unexpected rate, early investors already on board can look forward to the excitement of watching MCADE’s price flourish when it hits exchanges at the end of the presale. Those looking for a new investment project to take on still have the chance to gain excellent returns by purchasing now, while markets digest the impact of the Kraken crypto staking case.
What is Metacade?
Metacade set its stall out early, with an exciting whitepaper detailing plans to build the biggest and best online virtual arcade. It’s setting up to become a user-driven hub, where gaming enthusiasts and crypto fans can collaborate, building a thriving community while taking advantage of an ultimate range of addictive arcade games. To top it all off are lucrative opportunities to earn passive income via its games’ integrated play-to-earn (P2E) mechanics.
Although the platform’s unrivalled P2E capability is unquestionably Metacade’s main attraction, its carefully designed ecosystem offers a multitude of attractions which appeal to users and help sustain community growth rates. Each part of Metacade’s platform provides the community with tangible benefits and pioneering opportunities to earn passive income.
Metacade will introduce an exhaustive rewards system that will set it apart from competitors, with potential ramifications for the crypto gaming industry. For example, by rewarding users for contributing content to the hub – in the form of game reviews, gaming alpha and tips, and contributions to Reddit-esq sub-forums and regular live chats – the platform’s novel Create2Earn scheme incentivizes community building.
Other earning opportunities will be available via their Compete2Earn program, allowing users to stake crypto for entry into online tournaments and prize draws. Meanwhile, 2024 will see the launch of Metacade’s Work2Earn initiative, bringing some of the best and most exciting paid gig work, beta testing roles, and full-time career opportunities within the Web3 space to its vast user community.
How does MCADE work?
The MCADE coin will enable functionality for all activities on Metacade. MCADE will be used for crypto staking and as the medium of exchange for users to purchase merchandise and access exclusive pay-to-play titles, just as users would find in a real-world arcade.
These initiatives offer Metacade community members a chance to contribute to the financial well-being and platform ecosystem. Further funding is to be gained from external sources through advertising, external gaming studios that want to use the launchpad tool to release their titles on Metacade, and eventually, by hosting career opportunities from other Web3 employers on the hub’s job board.
Metacade: Driving GameFi innovation
The most exciting feature among Metacade’s pantheon of innovative schemes is their ground-breaking Metagrants initiative. Launching in Q3 2023, developers can apply for crypto funding to support the development of new, exciting P2E titles exclusively for Metacade.
Ideas are submitted into a pool by developers and presented to the community of MCADE token holders for review. After voting, the most popular ideas receive a Metagrant, which is used to support the game as it progresses. The first Metagrant-enabled title will hit the virtual arcade floor in Q1 2024.
This pioneering program will launch Metacade to the forefront of crypto gaming innovation and encourage competitors to improve their offerings. This can only serve to benefit the wider GameFi industry and its audience. Meanwhile, developers can use the Work2Earn scheme to build on the experience gained through Metagrants by forging a full-time career in Web3, opening doors for external blockchain companies to access the hottest new industry talent.
Is MCADE a good investment?
While holders of tokens that rely on crypto staking as part of their consensus mechanism nervously read through the small print of the ruling in the Kraken case, the potential impact across the wider crypto staking sector could lead them to seek out more versatile projects. MCADE token holders clearly will have no such concerns.
Metacade’s rich project strategy, outstanding tokenomics, and extensive level of utility built into the MCADE token make it a clearly attractive prospect for investors. MCADE is currently trading at $0.020 in its final stage of presale.
With a fixed supply of tokens available, demand for this enormously attractive token is expected to surge when MCADE hits the exchanges, leading to the value potentially skyrocketing. That makes the MCADE presale an outstanding crypto investment opportunity so early in 2023, and welcome relief for any investors hit by SEC lawsuits.
You can participate in the Metacade presale here.
