Metaplanet coin price prediction: What is MPL?
One of the latest play-to-earn metaverse gaming projects, Metaplanet (MPL) launched in January and saw its cryptocurrency price quickly spike, despite weakness in the overall markets. But what is Metaplanet (MPL)? How is the blockchain project differentiating itself among a raft of play-to-earn and metaverse launches?
In this article, we take a look at the project and a number of forecasts for the direction of the price in the future based on its initial trading activity.
Metaplanet builds DeFi
Metaplanet launched on 18 January with a demo version of its first play-to-earn (P2E) game. P2E games allow players to use non-fungible tokens (NFTs) as avatars in metaverse settings to earn cryptocurrency coins as rewards for their gameplay. Metaplanet’s metaverse is based in space, acting as a hub for users to interact with each other virtually, as well as collect and trade digital assets.
Metaplanet aims to bring the benefits of decentralised finance (DeFi) applications to P2E gaming by building a DeFi metaverse ecosystem in which users can swap, trade, earn and play. According to the white paper, in the Metaplanet game:
Metaplanet is built on the Binance Smart Chain (BSC), a smart contract-enabled blockchain that offers developers an alternative to the Ethereum blockchain. The metaplanet token is primarily a utility token used to engage in activities in the ecosystem. Users receive lower fees and faster transaction speeds if they pay their transaction fees with MPL tokens.
The token has a total supply of 10 billion coins, with 9.12 billion in circulation. Holders will be able to use the tokens to participate in governance decisions about the project’s development and revenue strategy.
The token distribution was set as follows:
Presale 45%
Private 14.2%
Liquidity (70% of raised presale) 31.5%
Burn 1.3%
Listing 8%
Transaction fees are distributed to marketing (6%), liquidity and game development (2% each), rewards and development (1% each).
News on 19 January that the Metaplanet token MPL would start trading on a centralised exchange on 22 January lifted the price after it plunged following its launch.
MPL started trading on the Catex Exchange on 20 January. The MPL token price started at $0.00002049 and rose to $0.0001191 the same day, then jumped to $0.0002335 on 21 January. The token could not hold the gains, however, and dropped to $0.00006898 on 22 January, falling further to $0.00003886 on 27 January. On 28 January, the project developers announced that Metaplanet would soon launch its 3D NFT marketplace.
The MPL price then began to trend higher and jumped on 14 February to $0.0002934, its highest price to date, as the developers tweeted that they had secured a deal with Chinese investment firm Golden Shovel Capital to market the project. They also previewed footage of the gameplay to show their game development progress and said that the beta version would launch on 20 February.
MARKETING AND PARTNERSHIP UPDATE
— METAPLANET (@METAPLANETBSC) February 14, 2022
⭐ We have Locked a deal with very big China's investment firm - GOLDEN SHOVEL PRIVATE INVESTMENT INSTITUTION @GSC_Capital
⭐ Game development is progressing well. You guys gonna love it.
Here’s our latest development from team ❤️ pic.twitter.com/pkEdFVAtBG
MPL dropped to $0.000145 on 17 February but bounced up that day to $0.000246 as the developers unveiled the project’s first billboard outside SpaceX and said that the project’s 3D and 360-degree NFT marketplace would launch soon.
The price has since stabilised at around $0.0001 to 0.00012. An update on 27 February said that MPL will launch on the China-based HotBit cryptocurrency exchange. Metaplanet also plans to launch its play-to-earn features in March and is forming a partnership with the LINK token.
The Metaplanet ecosystem includes an MPL decentralised exchange, MPL Swap, which by bringing “centralised functionality to a decentralised market gives you an overview of assets liquidity, volume, community and background, combined with a professional trading terminal”.
MPL Swap will allow “users to become takers or makers from their own wallets through a quick and simple wallet-to-wallet trading experience. It does not need users to deposit their currencies”, so they retain control of their assets. Traders can view live charts to pick the best time to complete a swap.
MPL SocialO is expected to launch in Phase 3 of the project rollout, along with the trading platform, according to the roadmap. It will enable users to engage, create and share their DeFi trades with other users, which they can then copy. That will come after MPL Swap launches in the current Phase 2, along with the NFT marketplace.
The Metaplanet project also includes plans to launch MPL Trax, an advanced DeFi derivatives options trading application that aims to offer an intuitive system for beginner traders. MPL Trax will enable the trader to stake their MPL to speculate on whether a cryptocurrency price will rise or fall over a certain period. If they are correct, they will receive a profit of 75%; if they are incorrect, they will lose the staked MPL they invested. This approach makes it straightforward for traders to manage their exposure to risk.
With the MPL price up by more than 400% in the weeks since its launch, what do forecasts indicate about the direction of the price and what factors are shaping Metaplanet crypto price prediction in the coming years?
Metaplanet token price prediction: How will MPL trade in 2022?
At the time of writing on 4 March, the MPL price prediction from Wallet Investor projected that the price would trend higher, based on data generated by its algorithm, reaching $0.000728 by the end of 2022. Wallet Investor predicted the price could rise to $0.0015 by the end of 2023 and $0.003025 by the end of 2025, then stabilise to trade at $0.00391 in five years’ time.
Gov Capital similarly forecast that MPL could trade at around $0.0043 in early 2027, up from $0.00319 at the end of 2025 and $0.000838 at the end of 2022.
PricePrediction’s MPL coin forecast expected that the price could reach $0.001 but not until 2027. Based on deep-learning technical analysis, the site estimates that the coin could average $0.00016262 in 2022 and $0.00050358 in 2025, reaching $0.003 by 2030.
The Metaplanet prediction from DigitalCoin expected a slower upward trend, from an average of $0.000139 in 2022 to $0.000152 in 2023 and $0.000209 in 2025, based on historical data. By 2030, the price could average $0.000476.
It’s important to keep in mind that cryptocurrency markets are extremely volatile, especially for new coins such as MPL. That makes it difficult to accurately predict what a coin’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their MPL predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns.
FAQs
Is Metaplanet coin a good investment?
Cryptocurrencies are highly volatile assets, making them high-risk investments – especially newer projects such as Metaplanet. In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the MPL token is a suitable investment for you will depend on your risk tolerance and how much you intend to invest. Never invest more than you can afford to lose.
Will the MPL token price go up or down?
At the time of writing, forecasts predicted that the Metaplanet cryptocurrency price could rise over the long term. However, forecasters can and do get their Metaplanet crypto price predictions wrong. You should do your own research to make informed trading decisions. Keep in mind that past performance is no guarantee of future returns.
