Merit Circle is a decentralized autonomous organization (DAO) that is geared towards the development of the play-to-earn (P2E) sector. The project is aimed at creating a new system of gameplay where the participants can earn money from participating in games they already love. Essentially, instead of those games being only a hobby, they serve as an avenue for the users to make money and also enjoy themselves while at it. The project was officially deployed on November 4, 2021. However, it had been in the works as far back as July 2021 and has been able to garner quite the crowd of people on Twitter.
Currently, the Merit Circle platform is a supporter of the Axie Infinity system, the most popular monster-battling play-to-earn game. According to professionals, the game will be gaining major improvements and updates that will be in high demand in the crypto sector due to the influx of people to the network.
According to the DAP platform’s pipeline works, it plans to support Star Atlas, Illuvium, and also Hash Rush. Star Atlas, for starters, was described as tagged as the most ambitious game currently available in the blockchain sector. Illuvium on the other hand is generally viewed as an upcoming survival game that is equipped with an alien world gameplay interface. The Hash Rush is a sci-fi/fantasy RTS that is set within a fictional galaxy known as the Hermeian galaxy, where players are required to build, fight and trade their way to survive and ultimately be victorious in the game.
Who are the Founders of Merit Circle (MC)?
Initially, the concept for the entire project was first birthed in 2020 and was in incubation for a while under the care of Flow Ventures. Later, the founding partner, and his team, all of whom are gaming and cryptocurrency experts took up the platform. Marco van den Heuvel led this group of people after being solely responsible for the creation of the Merit Circle platform.
Heuvel is well learned and is also experienced in the technical and business parts of the blockchain industry and tech world at large. He obtained his bachelor’s degree from Arnhem Business School. Later, he enrolled for an additional degree in international business at San Francisco State University.
Before obtaining his degree, Heuvel was already a part of several fundraising exercises including Pepperminds in 2015 and Direct Result in 2016. Later, he worked as a marketing intern before moving on to co-establish HappyMod and also served as the CMO of the platform. In 2019, he worked at the Presearch.org platform as a community market intern, and then two years later, he established Merit Circle and currently serves as its CEO.
What is Merit Circle (MC) used for?
The Merit Circle coin, also known as the circle of Merit, is a decentralized autonomous organization that is mainly focused on the development of play-to-earn solutions. According to its team, the project is aimed at creating a new era of gaming where there is an avenue for users to earn income by playing their favorite games, instead of gaming just being a recreational activity for them. Because of the reach play-to-earn systems are currently getting, developers and employers are slowly transitioning their focus into that part of the industry and it just might become the most sought-after skill in the industry very soon.
With MC being the dedicated token of the game, users can use the token for transactions both within the confines of the game and also in the real world. For real-world exchange, the tokens can be swapped with other more stable forms of cryptocurrencies. Some of these can include USDT and BNB.
What Is the Unique Point of Merit Circle (MC)?
Even though the concept behind the development of the Merit Circle platform is not new, the project on its own is a leading decentralized autonomous organization and is aimed at maximizing value accrual across the plethora of games available in the Metaverse space. Currently, the platform is an intersection of capital, players, and other representatives of investors and managers.
The project’s returns to the participants, according to its potential, can result in life-changing income for the individuals engaged in the space. This value has been recognized by some of the participants and investors and as such, there have been scholarship programs created for even platforms outside the space such as the Axie Infinity platform that has already garnered above 500 scholars.
Presently, there are already major revenue models that are in operation within the Circle of Merit platform which is for the benefit of the DAO itself, as well as the players and liquidity providers. However, more are expected to spring up, especially since the Merit Circle platform will now be more focused on other opportunities within the metaverse through its new games. Additionally, the Merit Circle platform claims to have an impressive list of partners, one of which includes Yield Guild Games, DeFiance Capital, Spartan Group, and several others. These and several others are leaders of the industry who have actively praised the Merit Circle platform for its development of a scalable operational process that can effectively grow, while also sustaining new additions to the platform.
How many Merit Circle (MC) coins are in circulation?
The Merit Circle network was created with a total supply amount of 1,000,000,000 MC, and according to reports from CMC, the token’s circulating supply has been put at 42,592,000 MC coins.
According to the distribution model, a total of 20% was assigned to the team members and the advisory; the incentives were assigned 29.4%, 7.5% for public distribution, and a total of 15% was assigned to the platform’s DAO treasury. The leftover 14% of the supply was used for the available forms of rewards with liquidity getting 10% and Retroactivity getting 4%.
Is the Merit Circle (MC) Network secured?
According to the Medium profile of the Merit Circle platform, the project was audited by one of the top security assessment firms in the industry, Quantstamp. The firm analyzed and evaluated all aspects of the project, with the results originally showing a total of 12 issues. Upon these discoveries, the shortcomings were resolved, and after that, the platform’s codes have been continually analyzed by several individual senior developers. Additionally, the project has also held a bug bounty; a system that allowed the entire community to check the crumbs of the codes to discover other problems that the standard checks might have missed.
How do I buy Merit Circle (MC)?
In general, the metaverse and its vast use cases have been discovered by several people over the years, with most of them working on creating similar platforms but with different use cases, as is seen in the Merit Circle platform’s provision of a medium where people can play for recreation and also earn money while they do. This and several other factors have prompted peoples’ interest in the platform and now more people are looking to get into the space. That can be done by following the steps below.
- Open an account with the crypto trading platform and deposit a specific amount of fiat money.
- Wait for the transaction to be processed, then buy your MC tokens.
Which Cryptocurrency Wallet Supports Merit Circle (MC)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Merit Circle (MC). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their MC wallet because it offers a simple and interactive interface making it easy for people to navigate its system.
