CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

MetaPets price prediction: can the pets token deliver?

By  Yoke Wong

Edited by Vanessa Kintu

16:57, 15 December 2021

Vector. Blue futuristic background. Bitcoin and blockchain. Electronic cryptocurrency and modern technology. Online banking, and financial communications. World wide web. Hologram. Planet Earth.
MetaPets price prediction: can the pets token deliver? – Photo: Shutterstock

The MetaPets price increased sharply after it launched on 22 November, as investors buy into the virtual customised pets world.

The cryptocurrency is a utility coin for the virtual customised pets’ metaverse. The network is supported by the Binance Smart Chain. The project is at its early stage. There is relatively little information on the technology supporting the network and its development plan.

The tokens were listed on many networks, including CoinMarketCap and Coingecko, on 22 November.

According to its creator, MetaPets tokens have a supply of 100 quadrillion. But, there’s no data on the coin’s circulating supply and market cap. According to cryptoassets price-tracking website CoinMarketCap.com, the fully diluted market cap for the coin is estimated at $8.79m.

MetaPets’ prices spiked to $2.275 on 29 November, before moving lower. The price was $8.8 on 15 December, nearly 14.5 times above its launch price.  

MetaPets price chart

Data on CoinMarketCap showed trading volume in the last 24 hours at $1.32m, as on 15 December.

Amid the growing interest in the metaverse following social networking site Facebook’s rebranding to Meta and its commitment to creating a virtual reality world, a flurry of projects with similar themes were launched, including MetaPets.

If you’re interested in the metaverse, read on for the MetaPets coin analysis, the latest MetaPets’ news and analysts’ MetaPets crypto price predictions.

What is MetaPets?

MetaPets is an early-stage cryptocurrency project. It has not demonstrated its vision through deliverables. The crypto has yet to publish a whitepaper, which is an important indicator of the project’s technical feasibility. Instead, it has published a LitePaper, which listed its vision for MetaPets as the first digital platform where you can customise your virtual pets in the metaverse.

“Metapets aims to be a first step in bringing love and companionship to the metaverse in a personalised way, allowing users to become owners of pets of their design,” it says.

MetaPets plans to make its platform interoperable with other metaverses, but the LitePaper did not give details on the implementation. In addition, the creator plans to monetise services in this pet metaverse to create revenue for users.

“Metapets aims to make your MetaPet adaptable to the virtual designs of the metaverse. Interoperable into other worlds, you can show your dog off in a dog show, have your prize cow produce milk to sell, and race your trophy-winning horse in a competition, all while earning a passive income from your MetaPets Investment,” it says.
“Your pet from MetaPets could be pulled into a training camp, a dog park, or any other type of game someone wants to build on different worlds in the metaverse without necessarily needing permission.”

The absence of a MetaPets whitepaper with technical details means that it’s unclear which protocols (proof of work or proof of stake) support the utility coin and its governance.

According to the MetaPets website, wallets for the utility coin are “locked on PinkSale & DxSale”, crypto service launchpad providers that offer a suite of tools to help developers create their own tokens and token sales. This suggests that Metapets is using PinkSale and DxSale to develop Metapets tokens.

Token distribution and tax]

Dee Norris is the Shanghai-based company’s CEO, according to his profile on LinkedIn, which did not share his previous experience in other projects or positions.

The website has also said the project has “partnerships with the best developing companies to help fulfil [its] roadmap and plans”, but does not specify the developers’ identities.

Metapets future plan

As part of the project, Metapets plans to launch a list of games, non-fungible art (NFTs) and applications. The company’s twitter feed said: “Games & NFT’s Dropping soon.” it did not specify a timeline or roadmap for any deliveries. 

According to the LitePaper, the list of planned utilities are: 

1) Prize Fund Games (Telegram, Discord, Tournaments, MetaPets App)

BTC/USD

63,556.40 Price
-1.310% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

BCH/USD

375.95 Price
-0.340% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

ETH/USD

3,397.92 Price
-0.430% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

XRP/USD

0.57 Price
-9.820% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

2) Non-Fungible Art

According to Metapets, “a percentage of every resell of MetaPets NFTs will be redistributed among the $MetaPets Holders and the original owner”.

3) Apps

4) Metaverse (The Final Stage)

The final stage of the project includes virtual reality (VR) games, integration with famous metaverse platforms, MetaPets VR headset and Metapets’ custom metaverse, “where only pet owners can play, meet, breed their pets, and have fun.”

To reward the MetaPets’ community, the company is planning a PrizeFund wallet, “which will collect taxes on every buy and sell in token volume to reward our NFT MetaPet owners when they participate in a collaborative contest for big cash prizes”.

Due to the early stages of the development, MetaPets will only be sharing “its vision along the way within [its] social media circles”.

“Shhh… it’s a secret for now! But we will launch telegram riddles, quests, and mini-games to help you understand more. We can’t give up all the good stuff just yet!” Metapets said.

Early-stage project, high risk investment

Due to the early stage of the project, with the token only launched in late November, MetaPets has no deliverables to-date.

As a result, the project has a low safety score of 3.18 on cryptocurrency research and data site isthiscoinascam.com. The research data on the site showed that there was a lot of missing information on MetaPets, including its project team, which suggests that the MetaPets coin could be highly speculative. 

The site also listed other important indicators for cryptocurrency projects, such as its financial statistics, leadership of the project, experience of the development team, whitepaper, activity on the source code repository and community sentiment in social media.

MetaPets safety stats

MetaPets token prediction

Despite the high risk and high volatility of cryptocurrency projects, some in the cryptocurrency community are bullish about Metapets coins’ potential.

According to Crypto technical analysis provider ZeCryptoMood, the trading signal of Metapets is “bullish” and prices are expected to reach $0.000000001551 in the coming days.

If Bitcoin keeps trending up, it could provide further support to Metapets, which could reach $$0.000000002215, said ZeCryptoMood in its technical analysis video on 7 December.

DigitalCoin’s Metapets/USD forecast

AL-based price forecaster Gov.Capital gave a positive MetaPets price prediction, expecting the average MetaPets coin price to hit 1.4929986578283E-9 in a year’s time.

Please note that algorithm-based Metapets predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

FAQs

Is MetaPets a good investment?

MetaPets is an early-stage cryptocurrency project. It has not demonstrated any of its visions through deliverables. It has yet to publish a whitepaper, which is an important indicator of a project’s technical feasibility. In addition, there is no detail on the project’s development team, other than the CEO. 

Whether Metapets is a good investment for you depends on your personal circumstances and risk appetite. Cryptocurrencies are high-risk, highly volatile assets anns Metapets coin predictions shouldn't be used as a substitue for your own research. Evaluate the level of risk you are prepared to accept before investing, and never invest money you cannot afford to lose.

Will MetaPets go up?

Some analysts expect MetaPets coin prices to go up in the next five years. However, analysts' forecasts can be wrong and have been inaccurate in the past.

Read more: ANJI coin price prediction: will an investment pay dividends?

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading