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To find out even more about this project, check out our deep dive of Merit Circle.
What Is Merit Circle (MC)Merit Circle is a decentralized autonomous organization (DAO) that focuses on developing the play-to-earn (P2E) economy. The project wishes to create a new era of gameplay where users would be able to earn money by playing games that they love, instead of treating them as a simple hobby. The project launched on 4th of November, 2021, but it has been in development since July 2021. Despite its young age, it already has a massive community, with over 64,800 followers on Twitter.
Merit Circle currently supports Axie Infinity — the most popular monster-battling play-to-earn game with the highest volume traded. Meanwhile, by playing-to-earn, its scholars are gaining new skills that will soon be in huge demand as employers are slowly but surely expanding into the crypto metaverse.
In the pipeline, the DAO plans to support Star Atlas, Illuvium, and Hash Rush. Star Atlas, for example, was described as the most ambitious blockchain game. Illuvium appears to be a type of an upcoming survival game that takes place on an alien world, while Hash Rush is an online sci-fi/fantasy RTS set in the fictional Hermeian galaxy, where once again, players have to build, fight, and trade their way to survival and victory.
What Makes Merit Circle Unique?While the concept behind Merit Circle is not entirely new, the project itself is a leading DAO with the goal to maximize value accrual across different games in the metaverse. Its platform is at the intersection of capital, expertise and players — representing investors, platform and managers — and of course, gamers.
The returns that the project has the potential to make will be able to translate into potentially life-changing income for some of the gamers engaging with it. The players have recognized the value of the project and the scholarship program that was created for them, and there are already over 500 scholars currently playing Axie Infinity.
There are already significant revenues that are flowing into the Circle of Merit, which benefits the DAO itself, as well as players and liquidity providers. More are expected to come, especially since Merit Circle DAO will now start focusing on other opportunities in the metaverse through new games.
Furthermore, Merit Circle boasts an impressive list of partners, including DeFiance Capital, Spartan Group, Yield Guild Games and more. These and others are all industry-leading names, who have praised Merit Circle for building a scalable operational process that can effectively grow, onboard, and sustain new members. In fact, DeFiance Capital’s Arthur said that DeFiance believes that “Merit Circle will be among the top guilds that will be kingmakers in this land.”
All of the partners, plus a number of angel investors, supported the company during its seed round, helping it raise $4.5 million
Related PagesWant to invest in Axie Infinity (AXS) itself? You can find it here.
Be sure to check out Ethereum (ETH) — the blockchain that hosts the Axie Infinity game.
Also keep an eye on Small Love Potion (SLP), whose token is needed to breed Axies.
Keep track of the progress of MC on the page of top DAO tokens by market capitalization.
How Many Merit Circle (MC) Coins Are There in Circulation?Merit Circle (MC) has a total supply of 1,000,000,000 MC. The information on how many of its tokens will be released in circulation is not yet available. It is known that 20% of the total supply will be allocated to the team members and advisors; 29.4% will be used for community incentives; 14.1% will be allocated to early investors; 7.5% will be up for public distribution; while the DAO Treasury will keep 15%. The remaining 14% will be used as rewards, for liquidity rewards (10%) and Retroactive rewards (4%).
How is the Merit Circle Network Secured?According to Merit Circle’s Medium post, the project was audited by Quantstamp — one of the leading security assessment firms in the industry. Quantstamp analyzed and evaluated all aspects of the project, originally finding a total of 12 issues. The problems were resolved immediately, after which the code was analyzed by several individual senior developers. In addition, the project has held a bug bounty, allowing the community to comb through its code and check for additional problems that may have slipped through the standard checks.
When Will Merit Circle Trading Begin?Merit Circle is available for trading, with the earliest trading data suggesting that the coin trading started on Nov. 4, 2021, and the first volume data came in around Nov. 5, 2021.
Can MC Hit $10?Merit Circle (MC) launched with the price of $2.8, and while it did briefly go below this price on November 5th (dropping to $2.7024), it quickly recovered and hit an ATH at $9.55 on November 6th, before correcting slightly yet again. Now, the biggest question in the community is whether it can return to its ATH and breach it, and whether this would also allow it to hit $10? The project’s biggest recent developments include the introduction of staking which was announced on November 7th, as well as voting on ecosystem-related decisions.
Where Can You Buy Merit Circle (MC)?Merit Circle is available on Uniswap (V2), Uniswap (V3), 0x Protocol, Hoo, and DODO. If you wish to learn more about how you can purchase cryptocurrencies, you can read more on CoinMarketCap’s educational portal — Alexandria — and start trading alongside other crypto community members on CoinMarketCap.
referencePosted on 03 Oct 2024, this text provides information on Miscellaneous in Cryptocurrency related to Cryptocurrency. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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