What is the Circle of Merit (MC)? One of the cryptocurrencies among the metaverse coins that has attracted great attention lately is Merit Circle. In this article, as Kriptokoin.com, we will answer questions such as what is Merit Circle (MC), how it works, how to get MC coin, what are its advantages and disadvantages.
What is the Circle of Merit (MC)? How does it work?
Prepared by the founders of Axie 420 and developed by Flow Ventures, Circle of Merit is a decentralized organization (DAO) that aims to develop the play-to-win (P2E) economy widely used in metaverse games. The project was created to maximize the realization of value in metaverse games and focuses on cryptocurrencies, gaming and investment. It also aims to create a new era of gaming where users can earn money by playing the games they love.
Developed since July 2021, the project started on November 4, 2020. Although it has just appeared, it also has a large community on Twitter with over 64,800 followers. In the past, the project only supported Axie Infinity, the most popular and high-volume play-to-win game. According to the team’s latest statements, the project no longer focuses solely on Axie. DAO aims to consolidate its place in the metaverse world by creating new games and new revenue models. The MC acts as the project’s governance token. Users can use the MC token to vote on decisions about the future of the network.
The coin has several use cases, such as users being able to access gaming NFTs in multiple sub-DAOs. Besides, MC coin can also be used for staking. Token holders can get early access to NFT drops and benefit from product discounts and platform rewards. According to the world’s largest cryptocurrency exchange Binance, the maximum supply of MC coin is 1 billion coins. At the time of writing, 42.6 million tokens were in circulation.
What are the advantages?
Metaverse coins are growing in popularity. In this context, it can be said that Merit Circle may face new opportunities in the future. Token adoption may increase with metaverse adoption. This, in turn, can cause an increase in the price of the cryptocurrency. Play-to-win games are known for providing high income to users who want to join the metaverse. Therefore, the usage of the token may increase over time.
What are the disadvantages?
With the growing popularity of the metaverse space, competition has risen as well. New metaverse coins are announced and released frequently. In this competitive environment, MC coin may fall back over time and remain in the shadow of its competitors.
How to get the Circle of Merit (MC)?
If you want to buy Merit Circle (MC) tokens, you must first be a member of an exchange where the cryptocurrency is listed. These crypto exchanges include HitBTC, Bitrue, Binance, and Uniswap (V3). After you become a member of the exchange, you need to verify your account and transfer money. After completing all these processes, you can buy MC tokens.
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