Utility tokens are a specific type of crypto coin that goes towards providing users with a real-world solution. Investment in these tokens gives the token holder access to a product or service. They are not simple investments in cryptocurrency for people looking for investment. Utility tokens have become one of the most popular types of coin to buy, particularly among investors to be part of the next big crypto success story.
Utility Tokens Explained
Utility tokens are generally involved in cryptocurrency projects and have a more specific use case. For example, utility tokens will be the native form of currency to undertake the following types of transactions:
- Playing P2E games
- Trading NFTs in crypto marketplaces
- Purchasing and trading virtual real estate plots
- Investing in the metaverse
- As a source of transactional currency
- For passive income
Some coins, known as DeFi coins, enable holders to earn interest on their holdings on DeFi swap exchanges.
Utility tokens are very different from meme coins, which hold no long-term value and usually have an unlimited supply. Meme coins are most often traded as speculative assets. As such, projects with meme coins are often not seen as viable crypto investment opportunities.
With this in mind, it’s time to consider the three best utility tokens to buy in January 2023.
1. Metacade (MCADE) — Best Utility Token
Although still in its presale stage, Metacade and its token MCADE has gathered significant interest over the past few months. Styling itself as “The ultimate Web3 community hub”, Metacade is poised to be the one-stop shop for metaverse gaming.
As well as building the leading GameFi platform in the Web3 space, Metacade aims to go beyond just offering users a wide range of games to play by bringing with it an unrivaled social sphere, earning opportunities, investment returns and a chance for developers to hone their skills. In short, Metacade is looking to make itself the hottest gaming space in the metaverse.
To do this, Metacade has created a place where game developers can build a vast catalogue of games that will suit gamers of every ilk. That includes gamers who just want to hang out with friends and casually play games to those that want a more competitive and in-depth experience. All games on the platform will have play-to-earn potential, meaning gamers can earn MCADE tokens as they progress through tournaments and climb leaderboards.
In addition, there are earning opportunities through other means within the hub. For example, users can offer feedback on new games for developers to ensure that the games that end up in the Metacade are the best they can be. This backtesting is a potentially lucrative source of earnings. In addition, interacting with games by writing reviews will also earn users MCADE tokens.
The MCADE coin is the native currency of Metacade and will underpin the project’s self-sufficient economy. The aim is to build a constant flow of funds from advertising and investors that will turn into earnings for gamers. One of the other uses of MCADE is something utterly new in the metaverse gaming world.
Developers within Metacade can apply for funding via Metagrants to help support their projects. They create gaming proposal and present this to the community users, who then vote on whether or not to provide the developer with the funds. This level of interaction and social cohesion brings gamers and developers together and removes the considerable obstacle provided by enormous multi-layered gaming development studios in the real world.
Other opportunities offered by Metacade will include a careers hub where those looking for job opportunities within the metaverse can be matched with Web3 companies. This is another example of how Metacade’s community-led ethos will allow members to determine the future of the GameFi industry within the Web 3.0 space.
The ultimate goal for Metacade is to become a fully functioning, self-sufficient community whereby the core developers of the project hand over complete control of the platform and the treasury to elected community members. This aim to become a fully-fledged DAO where members have the power to determine where Metacade goes in the future is what makes it such a potentially rich longer-term utility token investment ahead of the move into 2023.
>>> You can participate in the Metacade presale here <<<
2. Dash 2 Trade (D2T)
Dash 2 Trade is another new utility token that’s currently in its presale stage. At the time of writing, it’s in its third presale round of nine, and has already raised almost $6 million. Already the platform’s potential has captured the imagination of many investors, with more than 70,000 investors already signing up. With that, they’ve raised more than $400,000 in its first 24 hours of the presale.
Dash 2 Trade is a new crypto trading platform aiming to become the number one crypto signal provider. The platform will have many tools to help traders and investors make fully-informed investment decisions. These include:
- Social indicators
- Alerts for new listings on the exchange
- Analytics to highlight on-chain trends
- Strategy builder
- Built-in backtesting capabilities
In addition, Dash 2 Trade will provide an auto-trading API that users can customise to suit their needs. This detailed scoring system will highlight the best presales and ICOs on the market and a social trading system designed to increase the community’s social interaction with trading. All these outstanding features in one platform mean that Dash 2 Trade could quickly become the crypto trader’s best friend.
All D2T token holders will gain access to the Dash 2 Trade platform once it’s been released, and there will be two plans users can choose from: Starter and Premium.
There is also a free subscription version where potential users can get a feel for the platform’s layout. However, one of the two plans is required to get the best out of Dash 2 Trade.
D2T is an excellent option in December 2022 for investors. There are nine presale rounds, each of which has up to 87,500,000 utility tokens available. The value of 1 D2T increases with each round, meaning those that get on board in the third or fourth round will already receive significant increases in their holdings by the time the presale ends.
3. Decentraland (MANA)
Utility coins are a big deal in the metaverse and nowhere is that as true as on Decentraland, one of the leading virtual real estate platforms in the metaverse. There, users can purchase real estate plots in Decentraland’s Ethereum-hosted blockchain, converting them into LAND tokens using the world’s native token, MANA. Budding property magnates can combine multiple plots and LAND tokens to create an Estate.
Decentraland comprises 90,000 individual and unique LAND plots on the Ethereum blockchain. Users that purchase plots take advantage of the ERC 721 smart contract to create their LAND NFTs. As with real-life real estate plots, the cost of each LAND plot varies depending on its location within the metaverse and various other market factors.
Once a plot has been purchased, users have a range of options for what to do with it. They can utilise the plot by building a virtual building or creating a use for the plot, as Warner Music have done by creating a music-themed virtual amusement park. Meanwhile, users with LAND plots near Paris Hilton or Snoop Dogg may wish to take advantage of their real estate premium and cash in for a tidy profit.
Users can stake MANA in Decentraland in a variety of ways. These include buying stakes in other projects and also taking part in votes that ensure the platform’s ongoing security and maintenance.
As well as the conduit for real estate transactions, MANA can be used to play P2E games within the Decentraland metaverse and buy, sell, and trade NFTs. As the metaverse grows, the expectation is that more utility will be released to allow more plots to be cultivated. With that in mind, considering MANA’s current value, December 2022 is a great time to invest.
In November 2021, MANA peaked at an all-time high of $5.90. Compared to its current value of $0.485, more than 90% lower than its’ ATH, now could be the perfect opportunity to invest in this utility token at a considerable discount before the metaverse takes off in the coming months and years.
Conclusion – Metacade’s All Round Potential Make it the Best Utility Token
Our utility token of choice to invest in January 2023 is Metacade. The platform’s enormous potential and exceptionally well-thought-out roadmap has created a multi-layered use for the metaverse’s rich landscape.
Unlike many other metaverse developments, Metacade offers something unique and offers it to more than one potential audience sector. In this case, investors, advertisers, gamers and developers can interact with the platform and help Metacade make the most of its enormous potential. Rather than being reliant on a single game, Metacade’s scope for continual evolution and expansion provides far more longevity than other similar projects.
While many of Metacade’s competitors will be hampered by their one-dimensional single-use offering, the depth of Metacade’s plans offer an exciting vision of what is possible within the GameFi space. Metacade is aiming high and with good reason. They have an excellent chance to lead the GameFi revolution as Web 3.0 grows.
It is this multidimensional future that makes Metacade’s MCADE the best utility token to invest in for January 2023.
You can participate in the Metacade presale here.