How is Utility Token Metacade (MCADE) Different From Binance Coin (BNB) and The Sandbox (SAND)
- Novel gaming community platform Metacade exhibits robust use cases for its new native token
- Explore the ups and downs of BNB as it struggles to find utility in a saturated market
- The Sandbox token keeps pushing hype, but are its foundations solid enough to weather the storm?
Whenever new crypto projects are released to the public, tokens are typically never far behind. Whether as pure investment vehicles, or utility tokens with practical use cases for their platforms – they all serve in some way as integral to the future development of their projects.
A relative newcomer to the scene, Metacade, has been flexing its development progress recently – showing off an informative whitepaper with information on its unique utility token, $MCADE. The platform is taking aim at explosive growth, looking to quickly integrate itself as a forerunner in the future of gaming across Web3.0 and the metaverse.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
In this article, we delve into $MCADE and see what differentiates it from two currently popular utility tokens – the Binance Coin known as BNB and The Sandbox game’s SAND token. As for which one has the potential to be the best utility coin, we’ll let you be the judge.
An Introduction to the Metacade
The Metacade aims to be a bustling Web3 community where people with similar interests, such as Web3 culture and GameFi tech, can come together to play games, find new job opportunities, and share their experiences with each other. At the heart of this cooperation we find the $MCADE token – the core currency which facilitates interactions across the Metacade platform.
What we Know About $MCADE – The Token that Makes Metacade Tick
After consuming everything from white papers and developer Q&As, we have a clear idea of the $MCADE token and how it’s to be used across its platform.
Primary Uses Within Metacade
Reflecting Metacade’s foundations in gaming, $MCADE is intended to be used for a variety of related cases:
- Gaining entry into tournaments and prize draws & acting as a prize pool currency
- Playing games within arcade section of Metacade.
- Receiving rewards for play to earn games
- Buying gaming and platform merchandise
- Game development aspects, such as payment for beta-testing opportunities
- Game funding – providing grants to game developers to create their projects (winners of grants voted for by the community)
As with other cryptocurrency platforms, Metacade is also planning to offer the option of staking its token – essentially enabling a level of passive income for users who prefer a more dividend-style approach.
Technical Aspects of the $MCADE Token
From our in-depth research on both release and technology of the token, we can state the following:
- It will use the ERC Ethereum Blockchain.
- There will be a fixed supply of 2 billion $MCADE tokens.
- 1.4 billion have been announced for presale, with 600 million for future allocations:
- 200 million for development
- 100 million for liquidity
- 250 million for marketing & CEX listings
- 50 million for a competition pool
In summarising all of these aspects, we can see that $MCADE has both a sound approach in terms of its release, as well as excellent utility cases which closely integrate with its platform more fully than the majority of projects out there in the wild.
How Does $MCADE Differ From BNB and SAND?
$MCADE has some important differences to be considered when comparing it with utility tokens like BNB and SAND. Understanding the relevance of these is vital if you are planning to invest in any of them, so let’s look at why $MCADE stands out.
BNB – A Widely Used Utility Token
The Binance Coin (BNB) was created with trading in mind, promoted as a utility token which reduced fees on its native Binance exchange. Over time it has evolved, and BNBs can now also be used to pay for travel expenses (such as hotels and flights booking), to buy virtual gifts, to shop using a credit card, and much more.
Therefore, BNB Binance Coin acts as a basic transaction medium, much like a currency – and like any currency, BNB is subject to market conditions, both good and bad. In the past year, Binance has come under scrutiny from the SEC for its business practices, the press of which negatively affected the value of BNB, pushing it to a low of under $200.
SAND – Gaming experiences and voxel assets
From the outside, The Sandbox game and its $SAND utility token may appear similar to Metacade and $MCADE.
While The Sandbox is a community-based platform, it is focused mainly on game design. Its users can either work individually, or come together in order to create gaming experiences and assets. The most common driver behind the Sandbox’s economy centers on the creation and sharing of items called voxel assets. Voxel assets are essentially 3D models – animated or static, which can be created, then sold by their artists for use in Sandbox games in exchange for utility tokens.
There also exists a game creator, allowing designers to create games using the Sandbox’s native coding framework. These can also be sold in exchange for the platform’s currency, which the buyers can then utilise with an exclusive license.
Finally, there is a marketplace – where the trading of both created assets and games occurs – much in the same way as NFTs are traded. It is the Sandbox’s marketplace where much of the hype occurs, although as is the case with certain other NFTs out there – quality does not always follow the hype.This could explain many investors out there begging question, “Why is the Sandbox down?”
$MCADE – Striving to be the Best Utility Token Through Different Features
As you can see, while $MCADE does share some utility with both BNB and SAND – its advantages really come into focus when we look at the other platforms’ issues surrounding market stability, and project sustainability.
When investing into a cryptocurrency which purely exists for transactions, market forces and its platform foundations play a significant role in how stable the investment can be over time. While the Binance Coin BNB can be used for a variety of transactions, its volatility over time could make it a risky investment moving forward and certainly not the best utility coin to consider.
While The Sandbox utility token, with its asset and game marketplaces, has great current potential – it is the long-term sustainability of the platform as a hub for mainly designers which creates questions about how far the trend can run. Without a diverse breadth of users and accordingly a loyal customer base, it is becoming increasingly difficult to determine the value of the token over time.
By having the community-centric support of Metacade behind it, both in terms of its gamer population and developer teams, $MCADE is poised well to offer both long-term stability and strong sustainability as it continues to develop. In order for the best utility tokens to stand out, they have to offer use cases which integrate universally across their platform – and it looks like $MCADE is shaping up nicely to fit into this mold.
You can find out more about BNB here.
Find out more about SAND here.
You can participate in the Metacade pre-sale here.