The crypto market is in a bit of a pickle as bitcoin has fallen back to earlier support levels. The market’s top asset, as well as others, looked like it was going to break resistance levels, but the market had other ideas. Now it looks like there is more turmoil brewing in the market, with several notable events having taken place recently.
Among them is the fact that there has been a huge surge in BUSD redemptions, as United States authorities are looking into Paxos. The latter event prompted investors to pull funds out of Binance. On top of that, Grayscale’s Bitcoin Trust (GBTC) has also seen a sharp drop to a discount of 47%.
Let’s take a look at how these have been faring and why it appears as if the market may be in for some tough times for a few months more. We also look at a few tokens that look like they have strong potential during this bearish period.
What’s Going on With Binance USD?
Binance has experienced a tremendous number of withdrawals over the last day as a result of regulatory actions against Paxos. At the same time, users have redeemed a lot of BUSD tokens, to the tune of roughly 342 million.
The primary reason for this is the fact that the United States Securities and Exchange Commission has given notice of potential enforcement action against Paxos. The reason for this is that it believes that Paxos is an unregistered security. Binance has of course confirmed that funds are safe. It maintains that it has 1:1 backing for every user asset.
Grayscale’s Discount is Also a Worrying Sign for Some
Meanwhile, Grayscale is experiencing its own troubles. The Grayscale Bitcoin Fund hit a discount of 47%, which is close to the record high of 49% in December 2022. Grayscale is a subsidiary of the Digital Currency Group (DCG), which has attempting to deal with the bankruptcy that its associated firm Genesis is going through. Back in December, the collapse of FTX led to the discount in GBTC, but this time its Genesis’ financial issues.
DCG has sold some of the shares in its crypto funds, which has led to some analysts worrying about its health. DCG owned about 67 million shares in the FBTC trust, which amounts to about $784 million.
Which Projects Are Worth Looking At This Time?
Despite the woes that the market is going through, some projects are looking strong as we head into the future. Some of these are the most innovative in the market so far.
1. Meta Masters Guild
One project that is doing phenomenally well is Meta Masters Guild. This project, which is currently hosting its presale, is a Web3 mobile gaming project. The ecosystem as a whole has everything one needs to have a fun and rewarding experience in the world of mobile gaming, which is fast growing.
Meta Masters Guild is positioning itself as the “future of P2E” due to its extensive range of features. It is important to note that the project focuses on the “Play & Earn” model rather than solely “Play-to-Earn”, with the goal of creating enjoyable games for players.
The system incentivizes player activity through staking, reward earning, and trading, while also featuring NFTs that will appeal to collectors in the crypto market. Overall, the Meta Masters Guild offers a well-constructed and comprehensive platform for gamers and crypto enthusiasts alike.
Meta Masters Guild is addressing the issues in the gaming industry with its comprehensive platform. The team is committed to tackling these issues to enable the industry’s further growth.
Their mission is to create a decentralized gaming ecosystem by building high-quality, blockchain-integrated mobile games that allow members to earn rewards sustainably in exchange for contributing to the ecosystem. Meta Masters Guild aims to establish itself as a playground for Web3 enthusiasts and to revolutionize the gaming industry with its innovative approach.
The design principles of Meta Masters Guild prioritize the player’s enjoyment, ownership of assets, community-driven games, and play-to-earn. The platform allows players to win gems by playing games, exchanging them for MEMAG tokens, purchasing NFTs from a store, staking tokens, and NFTs to earn yields, and trading MEMAG for other tokens such as ETH and USDT.
Each game in the ecosystem offers in-game rewards in the form of Gems, which players can exchange for MEMAG tokens. These tokens can be cashed out or reinvested into the Meta Masters Guild ecosystem, creating a sustainable and rewarding cycle for players. The platform’s focus on fun, ownership, community, and earning opportunities makes it an exciting prospect for both gamers and cryptocurrency enthusiasts.
There are also premium, in-game NFTs, which can be purchased from the Meta Masters Guild store on the website and these will be held in the wallet and can be used in-game. Premium items have better stats and will give players a better chance of winning in various games and in turn increasing the number of gems that they earn.
Additionally, the team is encouraging developers to work in the ecosystem to build good games. Meta Masters Guild will focus on forming partnerships to this end.
The project will also work with eSports teams and content creators. The project will support any official eSports team and any creators who wish to play its developed titles. This will help in marketing the titles. These creators can access some of the better in-game items and features right off the bat, which is good for showcasing the possibilities.
None of what has been said so far would matter if there weren’t actually some high-quality games. Fortunately, the team has several such games in the pipeline, namely Meta Kart Racers, Meta Masters World, and Raid NFT.
The first game to be launched is Meta Kart Racers, a racing game that is being developed by Gamearound, which is one of the developers in the Meta Masters Guild ecosystem. This is your standard PvP racing game where players compete in the Meta Kart Championship. Furthermore, players will have to escape from the evil Meta overlords and doing this nets them gems which can be traded for MEMAG.
The next game is Meta Masters Worl, which is an actual metaverse. This is a universe that players can explore and carry out various activities. These include exploring, collecting resources, and entering competitions, among other things. However, this game is further down the pipeline and is still in the conceptualization stage. Once Meta Kart Racers has launched, the game will enter actual development.
The third game that is lined up is Raid NFT, which is a strategy game where players compete against each other or by themselves. This turn-based fighting game lets players choose from several different warrior classes. These units fight players or bots in harsh environments as well as complete challenges. It is currently in the design stage.
Meta Masters Guild is currently hosting the presale for its MEMAG token, which is at the center of the ecosystem. The utility token will power all the features.
The presale is so popular that it has managed to hit $4.3 million in investment in a matter of weeks. By the looks of things, it looks like it’s going to reach its $4.9 million target very soon.
The token is currently in the last stage of its presale, with 1 MEMAG costing 0.023 USDT. There are only about 25 million tokens left in this stage, with about 3 days remaining.
The token can be purchased with ETH, USDT, or a card. The card option is powered by Transak and is especially helpful for crypto beginners.
If you’d like to get more involved and stand a chance to win some rewards, consider joining the Meta Masters Guild giveaway contest. This $100,000 giveaway is simple and all it requires you to do is complete a few minor tasks. Examples include following the project on Twitter, joining the Telegram group, tweeting about the project, visiting the subreddit, and so on.
Visit the Meta Masters Guild Presale
2. Metropoly
Investing in the real estate market has become increasingly difficult due to high entry barriers. Owning a home for safety and security is no longer a possibility for most people, as the market has become dominated by large corporations acquiring more properties.
Two significant statistics highlight the bleak outlook for the general population if the real estate market continues on its current trajectory. These trends suggest that without intervention or change, real estate ownership will become increasingly inaccessible for the masses.
In 2021, the global real estate market was worth $6.8 trillion, with a compounded annual growth rate (CAGR) of 1.9%. The US real estate market, valued at $3.69 trillion, is expected to see a CAGR of 5.2% from 2022-2030.
The second concerning statistic is the median house price-to-income ratio of workers in the US, which currently stands at an alarming 7.61. This is higher than the ratio during the 2008 financial crisis and significantly greater than the value of 4.4 recorded twenty years ago. These numbers suggest that affordability is becoming increasingly challenging for potential homeowners, further highlighting the challenges of the current real estate market.
Although the real estate market is experiencing high demand, the increasing entry barriers mean that fewer average investors can participate. This situation is particularly concerning as younger investors miss out on the benefits of investing in real estate, such as portfolio diversification, inflation hedging, and the security of homeownership.
Metropoly’s solution to disrupt the real estate market is fractional investment, enabled by NFTs that represent ownership in specific properties. All NFTs on Metropoly are fully backed by real-world properties, with multiple investors owning a fraction of the same property. These fractional investments are highly affordable, with Metropoly offering investments starting from as low as $100. This approach has the potential to significantly expand the accessibility of real estate investment and allow more people to benefit from the market.
Fractional share owners on Metropoly’s blockchain-based real estate investment platform receive voting power and rental income proportional to their share ownership. This includes the power to vote on decisions such as the sale of the property.
Using a blockchain-based investment platform for real estate has numerous benefits. Firstly, investments can occur much more efficiently and from the comfort of one’s own home. According to Metropoly, investments can be made in under 30 seconds by connecting a wallet, browsing the marketplace, and purchasing shares in various properties. This convenience has the potential to attract more investors to the real estate market and allow for more accessible, streamlined investment opportunities.
Then there’s the advantage of being able to earn passive income through the renting out of properties. Users can purchase property from anywhere in the world, which is also a substantial benefit. All said and done, they can earn passive income, diversify their portfolios and hedge against inflation.
Seeing is believing, and Metropoly actually has a prototype of its marketplace that showcases the various features. The properties on it are only for illustrative purposes, but one can see what the property listings will be like, ongoing auctions, and payouts.
Metropoly offers a lot of exciting benefits for being a presale investor. All presale investors will enter the Platinum Member’s Club, which comes with a lot of benefits. The exact benefits depend on the amount invested and how early in the presale the investment is, which is more incentive to enter the presale as soon as possible.
This tiered system has multiple levels. All levels offer early access to the Metropoly Beta and a Metropoly NFT. However, at higher levels, investors receive rarer NFTs, real estate NFTs worth $10,000 and cashback on rental income.
There are Always Good Projects During Bearish Times
While the crypto market may not be in the strongest position, there are always good projects around. Meta Masters Guild and Metropoly are two strong examples of this, bringing novel solutions to some much-needed industries. Those interested should consider joining the presale.
Visit the Meta Masters Guild Presale
