With Bitcoin on the verge of breaking $24,000, the excitement has finally been injected back into the cryptocurrency industry. Unfortunately, last year’s bear market took its toll on most players in the crypto sector. Still, the recent price surge has started injecting positivity into the market while simultaneously creating 44,000 Bitcoin millionaires as the great crypto Fear & Greed index flashes “Greed” for the first time in ten months.
With crypto rising, we are also seeing a very strong resurgence in the play-to-earn sector as gamers rush back into GameFi to start earning from the thing they enjoy the most. Heavyweights in the P2E sector have significantly outperformed Bitcoin’s 40% price increase in the last month, with the market leader – Axie Infinity – seeing an epic 80% price surge.
With all eyes back on the P2E sector in the recent revival, one upcoming project is ready to redefine play-to-earn by creating sustainable economics and putting the fun back into gaming. This project managed to raise over $2 million in funding in under three weeks as investors scrambled to get a piece of the platform that is positioned to become the fastest-growing mobile-based Web3 gaming guild in the world.
To find out more, keep reading.
Market Surge Creates 40,000 New Bitcoin Millionaires
Bitcoin has been on an incredible surge since the start of the year and has exploded by 40% over the past thirty days. The cryptocurrency started the year as low as $16,500, but the recent market surge allowed the number one ranked cryptocurrency to break past $20,000 and approach the $24,000 level this week;
The recent market explosion has created another 40,000 new Bitcoin millionaires. According to data from BitInfoCharts.com, there are now over 68,000 addresses that are richer than $1,000,000 in BTC assets;
Just at the start of January, the number of addresses with over $1,000,000 in BTC assets stood at just 24,000. This represents an increase of 40,000 newly created millionaires in this past month alone.
Bitcoin Flashes Greed For the First Time in 10-Months
Adding further to the excitement, it seems that the sentiment of crypto market players has finally shifted from fear and is heading more toward greed again – creating an environment of aggressively rising prices as investors start to take risks.
The Fear and Greed Index, which shows investor sentiment toward cryptocurrencies, was stuck in Extreme fear territory over the past ten months as the bear market took its toll on retail investors. As a result, during times when the market is fearful, investors tend to sell their assets and stay on the sidelines as they are reluctant to take risks in the market.
Well, the recent price surge has now allowed the Fear and Greed Index to finally print “Greed” for the first time in ten months;
With the Fear and Greed Index now sitting in Greed, we can expect investors to start taking more risks, helping push the market higher.
Adding further to the positive sentiment, Bitcoin is on the verge of a golden cross formation. The golden cross has been a long-term indicator of bullishness in the market, predicting a major move higher as early as mid-2019. The golden cross is a situation where the 50-day moving average (MA) crosses up above the 200-day MA – creating a cross of the MAs;
Source: BitcoinArchive TradingView
In addition to the Greed sentiment and the Golden Cross approaching, another valuable insight into the market centers around Elon Musk and Tesla’s Bitcoin holding. The EV market leader infamously sold off 75% of its holding during Q2 2022 – causing a ripple of bearish sentiment throughout the industry. However, a recent results report indicated that Tesla neither bought nor sold any of its Bitcoin for the second consecutive quarter in a row – putting its holdings at 9,720 (worth around $22.6 million).
Prominent Analysts See Surge to $180,000
The recent Bitcoin surge has also caused more miners to come online, causing the difficulty of mining the digital gold to its all-time high level. The difficulty level saw the second largest positive adjustment in over a year to reach a new all-time high level this week, causing the network’s security to increase further. This is largely a result of higher prices, meaning miners are making more money, so they can afford to bring back more mining equipment online.
With prices pushing higher, many analysts are now becoming more optimistic about their price predictions. The majority of analysts are expecting at least $28,000 in the coming days, depending on the outcome of the FOMC interest rate decision – which they believe the Fed will raise rates by a small 25 BPS.
One analyst, Thescalpingpro, believes $28,000 is on the table despite heavy resistance ahead.
Price is near the range high, the entire $23.5k ~ $24.5k is a heavy resistance area.
Bears are still shorting it and are in disbelief , won't be surprised if it breaks out & it goes straight to $28.1k
(without any HTF pullback).#crypto #btc pic.twitter.com/qlmV2XoWPU
— Mags (@thescalpingpro) January 26, 2023
However, despite this prediction, other analysts see extremely optimistic gains in the future. Dave the Wave, an analyst who predicted the May 2021 BTC collapse, expects a huge upside ahead. Using a logarithmic growth curve model, the technical analyst believes that Bitcoin can explode by over 675% by the end of 2024, putting it at $180,000;
A technical target for #btc of 180K late next year… pic.twitter.com/VxVZdwdIBk
— dave the wave🌊🌓 (@davthewave) January 28, 2023
Whichever way you look at it, the market is experiencing a wave of bullish sentiment – helping other crypto sectors outperform Bitcoin.
Players Return to P2E Ecosystems
The increasing market floor resulting from the Bitcoin price increase has caused players to return to prominent play-to-earn ecosystems. The 2022 market collapse caused a mass exodus of players from these P2E platforms as the rewards started to dry up for many top-tier players. However, the recent price hike means that players are starting to return as their efforts in the game are starting to be rewarded again.
Just this past thirty days, the P2E market leader – Axie Infinity – completely outperformed Bitcoin by surging by an incredible 88.5%;
The price increase has resulted in a 60% rise in the number of active users on the platform as players return to start earning from what they love to do best; gaming. Furthermore, there has also been a significant 200% increase in the sales volumes on the platform as players start to buff their player stats through NFTs;
With play-to-earn ecosystems back at the forefront of everybody’s mind, one upcoming P2E platform is ready to revolutionize the gaming sector. This new project believes that the concept behind play-to-earn is inherently flawed, as users tend to leave when the rewards dry up. Furthermore, this new project wants to put the fun back into gaming, bringing it to the forefront of the gaming ecosystem before earning mechanics. As a result, they are ready to completely change the concept behind P2E and birth a new idea: Play-and-earn.
Let’s introduce you to Meta Masters Guild.
Meet the World’s First Mobile-Focused Gaming Guild
Meta Masters Guild is the fastest-growing play-to-earn guild of 2023 and is on track to become the largest mobile gaming guild in Web3. The entire premise behind the platform is to create fun and addictive games with playable NFTs, allowing players to earn rewards, stake, and trade.
The ecosystem is built around sustainability, providing sustainable rewards for members in exchange for their contributions and efforts in the ecosystem. They’re on a mission to create high-quality, blockchain-based mobile games to form a completely decentralized gaming ecosystem.
The project is currently undergoing a presale for its native token, MEMAG, which has seen a flurry of fundraising after crossing the $2 million threshold in under three weeks since going live.
Built with Fun as the Number one Principle
🕹️ FUN COMES FIRST 🕹️
We pledge not to let our #blockchain integration, tokenisation, and earning mechanisms get in the way of what really matters, which is an interactive and fun gameplay experience for the player!
Check out our website for more! ⬇️https://t.co/CciShaUh6l pic.twitter.com/NzxLvd0ygG
— Meta Masters Guild (@MEMAGgames) January 12, 2023
The entire Meta Masters Guild is built on principles that put fun at the forefront of the ecosystem. Creating fun games players love and return to is their number one goal.
To ensure fun comes first, the team has pledged not to let tokenization and earnings get in the way of creating a fun and interactive gaming experience. The team understands to keep a sustainable economy will require a stable player base. Therefore, players need fun and engaging games to keep returning to them, which is precisely why fun is at the heart of the ecosystem.
In addition to making fun their number one priority, the team also understands that multiplayer games are nothing without the community. Therefore, they want to ensure that all players have a voice in the community and can help shape the ecosystem’s future development through a governance voting process.
Play-to-Earn Fundamentally Flawed – Introducing Play-and-Earn
The main feature behind Meta Masters Guild is that they want to redefine the dynamics behind the play-to-earn industry. At its heart, they believe the play-to-earn concept is fundamentally flawed.
The team behind Meta Masters Guild doesn’t want people to play their games solely to make money. They understand that if the entire player base is seeking profit, it’s impossible for the earning mechanisms to be sustained.
Instead, they want to create high-quality games on which players can spend money and time, then give them the opportunity to earn their money back and be compensated for the value they add to the ecosystem.
For this reason, they’ve coined a new term of their own to redefine P2E; Play-and-Earn.
Play-and-earn allows players to play their games for free (with an option to pay for upgrades) and then will enable them to start earning their money back for the time spent in the game. In addition, players can earn GEMs in the various titles under the Meta Masters Guild umbrella, and they have complete control over what they want to do with their rewards.
Some of their options include; exchanging MEMAG tokens, staking MEMAG into the platform for additional rewards, purchasing in-game NFTs with GEMs, or cashing out to ETH to bank profits.
Three Games are Already In Development
Another reason to get invested in Meta Masters Guild today is due to the fact that they already have three fun and addictive games under development – even without finishing their presale. This shows that the team is fully dedicated to bringing their ecosystem to life and isn’t just looking to get funding like many other crypto projects.
In collaboration with Gamearound, a Web3 game development studio, Meta Masters guild currently has the following three games under development;
- Meta Kart Racers
- Raid NFT
- Meta Masters World
Their first set of games is designed to appeal to a wide range of players, providing something for everybody to enjoy.
If you love racing games, then Meta Kart Racers is the game for you. In this game, players are rewarded for their performance on the track – with the fastest track times earning the highest rewards.
Alternatively, if you’re a fan of turn-based fantasy games, then Raid NFT will be ideally suited for you. In this game, players must choose between several warrior classes and battle in harsh environments while completing challenges and earning rewards.
The final game is Meta Masters World, an open-world exploration game. This game is ideally suited for players that prefer less structure, allowing them to explore the Meta Masters World and choose what they want to do. While exploring, players can collect resources, enter competitions, and socialize with other players in the metaverse.
Presale Crosses to $2 Million Milestone as Gamers Rush to Play-and-Earn Ecosystem.
The MEMAG presale recently crossed the $2 million milestone as gamers continue to rush to get a piece of the action;
The presale is currently in stage 4 and is selling the token for a price of $0.016. The presale is set to take place over seven separate stages, with an increasing price as each phase concludes. For example, once the presale raises $2.6 million, stage 5 will commence at a price of $0.019.
Therefore, those entering the earlier stages are likely to come out of the presale with a profit already in the books. The team has announced that they will list the token on exchanges with a price of $0.023.
Overall, Meta Masters Guild isn’t just another play-to-earn platform that will see players coming and going according to the value of the rewards in the ecosystem. Instead, it will revolutionize the entire sector by birthing the new play-and-earn concept. Finally, players will be playing blockchain-based games for fun again, instead of a profit-making endeavor – helping Meta Masters guild to become the most exciting P2E project of 2023.