Gaming is one of the most popular fun activities adopted by people globally. Statistics indicate that there are over 2.5 billion video gamers globally today. Earlier statistics predicted that the gaming world could hit over $180 billion by the end of 2021.
One catalyst of the recent growth in gaming is the adoption of blockchain and NFT. Now, more than ever, it’s easier for gamers to make an income while gaming. The concept of Play to earn is gaining popularity as new NFT games come up every other month. One such platform is Metaface.
Metaface defines itself as a decentralized gaming network with a free-to-earn token NFT and many games. This network combines tokens with NFTs to create a play-to-earn mechanism for gamers.
The Metaface token takes the most primary task of powering this entire gaming ecosystem. According to Metaface white paper, this token will have two types of holders. First is those who purchase for speculative and investment reasons. The second is those who buy the token for the METATHUG P2E game.
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This BEP20 token has many use cases and features, including;
The Metaface ecosystem instills policies that make the MFT token hyper-deflationary. One of the policies is a manual token burning mechanism. According to their whitepaper, the Metaface team will seek its community’s opinion on burning tokens and buyback mechanisms. This in turn gives the community a say over their investments. Burning enhances the token scarcity, which results in more demand; hence value increases over time.
Furthermore, the network has a rebate policy where they distribute 4% of everyMFT transaction to token holders’ wallets. Metaface will distribute the rebate based on the holding per wallet. This will encourage more people to purchase and hold the token. Altogether, the rebate and burning policy will make the coin deflationary.
High Liquidity Token
Another feature defining the MFT token is high liquidity. Accessing this token and exchanging it in the markets will be easy. In every transaction, 3% will go back to liquidity pools to regulate MFT token prices.
The 3% liquidity return policy will help bolster liquidity and make the token gain value in the long term.
Minting and Buying NFTs
The third and final feature of the token is minting. All holders of the token will mint metaface NFTs and sell them to the marketplace.
Aside From minting NFT, the token will help users buy NFT. It will be the main currency to use in the NFT marketplace. Hence, holders will buy NFT using this token.
Holders of the Metaface token will participate in contests to create game scenarios. The community will choose which design is best, and the creator will earn rewards for designing.
This token will be listed on top Dexes, where holders will trade in and out. The first Dex targeted by Metaface is the Pancakeswap. Trading the token will be a good source of income for traders. The MFT token will also help in rewarding the holders in Dex.
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The Metaface NFT
The network also notes that the token will work in synergy with the NFT to provide services. The NFT will be the most necessary asset in the Meta thug game. The NFTs represent the in-game items and features.
For gamers to start playing and earning, they must first purchase the Metaface token. On holding the token, they can now purchase the NFTs from the marketplace. Aspects like rarity, uniqueness, and features will contribute to the increasing values of these NFTs.
The METATHUG Game
Meta Thug game is the flagship service provided by the Metaface network and MFT token. This game will combine several game modes to boost the gamers’ experience. The Metaface team is working hard to ensure the graphic quality of the games is high.
The MetaThug game will first launch as a mobile gaming application. It will be available both on Android and iOS devices starting quarter 1 of 2022.
Metaface: Audit for Security
To ensure it ultimately secures the investors, Metaface decided to take an audit. The audit which Techrate completed intended to identify any errors and vulnerabilities in the smart contracts. After thorough checks, Techrate never found any serious issues.
Metaface decided to post the audit report on their web page. This shows the level of transparency that the network has.
Metaface: The Pros and Cons
The Metaface gaming network will come with several advantages and drawbacks. The few top benefits will include;
- Have fun and earn income
- Exposure to the NFT space
- Mobile applications for convenience
- High token liquidity
- Deflationary token
This network is entirely new in the market. Hence, users cannot be able to identify issues. However, the team behind it is fully KYCed, and its smart contracts are audited by Techrate, eliminating any chances of a rug pull and ascertaining the security of investors’ assets. Moreover, over $600K in investments are locked in the network’s liquidity pool, which guarantees it is a long-term project and puts investors’ minds at rest.
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Wrapping Up: To The Future
The Metaface ecosystem has a lot in store in the coming months. In the fourth quarter of 2021, the platform completed several plans, including the ongoing Presale.
However, after the presale, Metaface will complete NFTs, and launch the game in 2022. It also plans to continue listing on more exchanges as it continues to develop the NFT marketplace. At the end of 2022, Metaface intends to ensure the NFT marketplace, the Metathug game, and its other services will be available for everyone.