Over 99% of game tokens have fallen, MetalCore will continue to release its native token MCG

MetalCore has announced that its third closed beta (CB3) will be launched on June 27, along with the debut of its native token, MCG. The developers clarified that CB3 will integrate new off-chain currency, SHARDS, and NFTs to attract both Web2 and Web3 players.

Decline in Game Tokens Over the Past Week

In the past week (June 17-23), the blockchain gaming sector experienced a consistent decline. According to Coingecko data, the GameFi sector saw an 11.1% decrease, with the total market cap dropping to $16,644,365,990, placing it 33rd in sector rankings, down one position from the previous week. The number of GameFi tokens increased from 373 to 376, positioning the sector 5th overall, following Meme, DeFi, NFT, and Finance/Banking sectors. Among the issued Gaming projects, only one project saw a positive increase, with over 99% experiencing negative growth. In terms of gaming NFTs, the floor price dropped by 4.76% over the past seven days, ranking fourth among sectors according to NFT Price Floor data.

What is MetalCore?

MetalCore is a AAA sci-fi MMO set in a future where warring factions battle for interstellar resources. Players choose a faction and fight against other players or the environment. Although players can opt out of Web3 elements, the cryptocurrency MCG powers "MetalCore". Players can earn MCG and convert it into NFTs. Another in-game currency called "Tags" is earned through in-game contracts, social missions, and participation in the game's guild system.

MetalCore financing

MetalCore private placement financing

MetalCore raised $15 million in an undisclosed funding round on March 9, 2022. This round of financing was led by Delphi Digital and BITKRAFT Ventures, with support from Animoca Brands, Sanctor Capital, Immutable Capital and other companies.

MetalCore’s funding round

MetalCore raised $5 million in a funding round on March 12, 2024. Participants in this financing include Delphi Digital, Bitkraft Ventures, Sanctor Capital and Spartan Group.

MetalCore Team Introduction

The game development company behind MetalCore, Studio 369, is led by CEO Matt Candler. Their mission is to revolutionize traditional gaming by integrating blockchain technology. The team consists of Unreal Engine experts focused on PC, console, and mobile platforms, with core skills in multiplayer gaming. Members have previously worked at Activision, Epic Games, Paramount Picture, Skybound, and Sony, contributing to popular games like Fortnite, H1Z1, The Walking Dead, Star Trek, and Gears of War 3. They are currently developing MetalCore and several undisclosed AAA multiplatform games.

MetalCore and Immutable zkEVM Collaboration

MetalCore will launch on the Immutable zkEVM blockchain, becoming the first playable game on this platform.

Coinlive's Investment Advice

Coinlive advises users not to invest in MetalCore. Given the overall bearish sentiment in the crypto market, with BTC dropping to around $62,000 and the blockchain gaming sector also declining, it suggests a cautious approach, focusing on observation and finding opportunities over the next 1-2 months.