MetaDoge (METADOGE) is a cryptocurrency they design to help people make money in the Metaverse. To explain, they are building a METADOGE Metaverse that 3D MetaDoge avatars will rule.
To enter the METADOGE Metaverse, people will receive an NFT Access Pass. People with the pass can enter the Alpha and Beta versions of the METADOGE Metaverse before the public release. You will need to buy the NFT Access Pass with METADOGE tokens or Binance (BNB).
I think they are selling the NFT Access passes to finance construction of the METADOGE Metaverse. To elaborate, they are selling NFT Access Passes for three billion METDOGE and six billion METADOGE. They plan to sell 5,000 NFT Access Passes.
Welcome to the MetaDoge MetaVerse
They have a built a number of apps to help METADOGE holders access the METADOGE Metaverse.
For example, the MetaBridge app supports Layer-1 blockchains for Metadoge holders. They describe the MetaBridge as a decentralized experiment to connect different blockchains. Hence, I consider MetaBridge a bridgecahin. They claim make MetaBridge can connect Ethereum and the Binance Smart Chain.
I think MetaBridge could create security risks because it is a bridgechain or sidechain. To explain a bridgechain or sidechain is less-encrypted shortcut between blockchains. Bridgechains speed up transactions because they have less encryption and security than blockchains.
The METADOGE (METADOGE) Token
The METADOGE (METADOGE) token is an ERC-20 (Ethereum request for comment) token that will serve as the utility token for the METADOGE universe.
I consider METADOGE an inflationary token because they released 100% of the METDADOGE Total Supply through Uniswap. In addition, they locked the METADOGE liquidity for six months to maintain its value.
The METADOGE project began as an initiative that evolved into a decentralized autonomous organization (DAO). The purpose of the DAO is to build the METADOGE Metaverse. A DAO is a blockchain organization built to achieve a specific task.
What Value Does the MetaDoge Token Have?
Mr. Market thinks the METADOGE Token has value. For example, CoinMarketCap estimates MetaDoge was the most trending cryptocurrency on 5 January 2022.
In contrast, MetaDoge (METADOGE) was the 4,,209th largest cryptocurrency on 13 January 2022. CoinMarketCap gave METADOGE a Coin Price of $0.00008137, a Fully Diluted Market Cap of $8.137 million, and a 24-Hour Market Volume of $191,130. They base those numbers on a Maximum Supply and Total Supply of one trillion METAVERSE.
In contrast, Coinbase gave MetaDoge (METADOGE) a Coin Price of $0.000078 and a 24-Hour Market Volume of $191,109.39 on 13 January 2022.
In conclusion, I consider MetaDoge a purely speculative cryptocurrency that speculators need to avoid. To explain, there is no evidence that the MetaDoge METAVERSE exists or if they will ever build it. Therefore, METADOGE’s value is theoretical, and the token has no value.
I advise speculators to stay far away from METADOGE until they build the Metaverse and can make money in it. Until then, I think everybody needs to stay away from METADOGE.