Merit Circle Price

What Is Merit Circle?

Merit Circle is an organization that is focussed on developing play-to-earn gameplay in crypto gaming. It is decentralized autonomous organization (DAO) meaning that it has no centralized governing body and the decisions on the platform are taken by its members in a decentralized manner.

The Merit Circle DAO wishes to give its users games that they love to play and earn money through it and not just do it as a chore. The project was in development since July 2021 and launched on 4th of November 2021 and has already amassed a huge following across social media platforms. One of the most popular games supported by Merir Circle is Axie Infinity. Merit Circle's aim is to leverage playing games in crypto and use that for expanding and meeting the future demand for skills and technologies in the upcoming metaverse boom.

Another one of the crypto play-to-earn games supported by Merit Circle is Vulcan Forged. The Merit Circle DAO also has its eyes set on supporting games such as Star Atlas, Illuvium, Hash Rush, etc.

Merit Circle Founders and History

The project was envisaged in the year 2020 and Flow Ventures was the incubating team behind it. Marco van den Heuvel is the founder of the project and serves as its CEO. He had previously worked for Presearch and other blockchain projects. Tommy Quite, the Co-Founder of Flow Ventures serves as the CFO of Merit Circle while Mark Borsten, a partner at Flow Ventures serves as the COO.

The team had focussed on developing and scaling the project first before getting into advertising about the project. This has enabled it to attract big names in the niche such as Axie Infinity, Vulcan Forged, etc. In the next part of their roadmap, they wish to diversify more into brand advertisement and expansion which would include sponsorship deals with players, teams, NFT deals, eSports team, etc.

How Does Merit Circle Work?

In the barrage of lots of new play-to-earn games entering the market, MeritCircle distinguishes itself by being the perfect blend of industry experts, players, gamers, platform managers, and capital investors. The goal of the DAO is to maximize the gains made by people by leveraging different games built across the metaverse. This has led to a huge influx of big players to the platform who see its immense potential.

The Merit Circle (MC) token is the centrepiece of the entire DAO superstructure with a total supply of 925,922,704 tokens out of which the circulating supply is only around 15 percent at the moment. The DAO provides various incentives to the token holders for participating in the DAO such as accepting or rejecting proposals and other governance issues.

The DAO of Merit CIrcle is made up of many smaller subDAO's that look after specific operations in a play-to-earn game. Their role is to help the mainDAO in acquiring more assets such as NFTs, yield farming reward strategies, or even focus on creating new gameplay ecosystems. Owning Merit Circle(MC) tokens will let you be a part of all this and earn a hefty dividend as the DAO grows in size.

The Merit DAO consists of many subDAOs, where each subDAO will represent the operations in a specific play-to-earn game. This helps the mainDAO to acquire more NFTs, yield farming strategies and creating a part of new gaming ecosystems. By owning MC tokens you can participate in many games and be a part of a growing DAO. You can also stake your tokens and get early access to NFT drops on the platform.

Merit Circle has tied up with a bunch of investors including and not limited to DeFiance Capital, Spartan Group, Yield Guild Games, etc. And with the help of these partners and other angel investors, it was able to raise USD 4.5 million during its seed phase only.

Merit Circle (MC) Token

Out of the total supply of Merti Circle tokens, according to the documentation and white paper presented by the DAO, only 20 percent of the tokens would be allocated to the team members and its advisors. The early partners and investors would get 14.1 percent and 7.5 percent would be for public distribution. The DAO treasury would hold 15 percent of the MC tokens. While 29.4 percent would be used to incentivize the community, and the remaining will be distributed as liquidity rewards, etc.

Upon its launch, the Merit Circle price was USD 2.8 and dropped slightly in the next few days before recovering. The price recovery took the Merit Circle price to its all-time high. Even though the price has come down significantly, the potential for the token is very high as new players enter the play-to-earn space and pivot towards Merit Circle. The market cap of crypto gaming is very low right now and as majority of the big games are already supported by Merit Circle, the price of Merit Circle token will in all likelihood breach its previous all-time highs and reach new levels. As the market cap of crypto gaming rises in the upcoming years, the prices of tokens like this will also see new highs. This is not an investment advice but an educated guess and users should do their own research before investing in the crypto market as they can be very volatile in nature.

Merit Circle Markets

Even though Merit Circle(ML) token was launched only on November 2021, it has become highly sought after among the investors, gamers, and traders. You can buy Merit Circle on almost all of the major crypto exchanges such as Binance, BitMart, Hotbit, Gate.io, Gemini, Crypto.com, Kraken, Huobi Global, Bitrue, UniSwap, PancakeSwap, etc. Thus it is available to be bought on almost all the widely used centralized and decentralized crypto exchanges, signifying the belief in the project.