Metapets coin is a coin that has been doing the rounds lately. This coin has not gone mainstream yet. Market observers and investors are tipping it to go full Shiba Inu next year. It is however not wise to invest in a token because random strangers on the internet are tipping it to go parabolic. The wise thing is to do your research. That’s where this review comes in. Today, I’ll be reviewing MetaPets coin, to discover if it is a legitimate token to invest in for long-term holders or if it is a well-packaged fraud.
If you are already an investor (shiller), I advise you read this review with an open mind. If you are just curious, or maybe you are just going to invest in metapets, pay attention to what you are about to read.
Before we start, let’s establish an understanding.
I’m not a banker or a financial expert. I will not be held responsible for your financial decisions. This article is just a guide and nothing more, take it as a form of entertainment (I try to be funny sometimes).
Here’s a little info about Metapets Coin, according to my favorite crypto app CoinMarketCap.com
The metaverse, an exciting and spellbinding new world where all things are possible. You can do virtually anything. But in a world where things are vast, sometimes you might get lonely through all of that space—introducing MetaPets, an innovative place where your new best friend is born.
Metapets aims to be a first step in bringing love and companionship to the metaverse in a personalized way, allowing users to become owners of pets of their design. Never again do you have to worry about the painful feelings that come with loss. Allergic to cats but love them? Fulfill your heart’s wish to own your cat, made into an NFT, where the colors, sizes, and loveable furriness are customizable into your forever friend.
The Metapets is a fantastic idea targeted at crypto investors who are into pets. I like their use of the English language. The message is simple and is relayed in the clearest way possible. Let’s move to review the website.
MetaPets coin’s website is well designed, unique and easy on the eyes. I like the creative concept of the website. It looks like what a seasoned artist designed. I also like the fact it is SSL secured, this to me is the beginning of all reviews.
MetaPets Coin’s website is less of words and more of pictures and graphics. I believe the white paper will have a detailed explanation of what MetaPets is all about. Metapets coins website description begins with the “how we handle the project” section. Here they indirectly introduce visitors to their team of “best” marketing strategists and blockchain developers. If it would have made more sense if it included the names of these marketers and developers, for investors to verify their claim.
MetaPets coin has a handful of utilities listed in the utility section of the website. From Games Hosted By the Prize fund Wallet, launching the MetaPets NFT, launching the MetaPets Social Media, launching the MetaPets Marketplace, to launching the MetaPets Platform for the Metaverse. What was not made clear is if these projects are slated for next year (2022) because they are mostly unlaunched. The ‘launched’ projects like Games Hosted By the Prize fund wallet, doesn’t look launched, as there are no links that direct you to the games. What this means is that MetaPets has little or no utility currently.
MetaPets is designed to have a total supply of 100 quadrillions. MetaPets is a reflection token as 2% of every transaction done in the metapets ecosystem is redistributed to holders of MetaPets. Making holders earn passive income while holding MetaPets. 3% of every buys and sells is added to the liquidity pool, to maintain Metapets stability. 5% is distributed to PrizeFund wallet for community games with cash prizes. 1% is distributed towards aggressive marketing. 2% used by AI technology to strategically buy back tokens and kick out paper hands.
MetaPets Lite (White)Paper
MetaPet’s whitepaper is a webpage on gitbook. The white paper begins by making readers understand that MetaPets ‘real’ whitepaper is being worked on. Here is how it was communicated.
“Our whitepaper is now getting upgrades with drawings and tech explanations to the highest degree. The whitepaper is coming when our artists complete it.”
What this means is that what we will be analyzing is a make shortened version of a MetaPets white paper. MetaPets lite paper properly begins with a wonderfully written narration of the gradual human transition to the metaverse. And the problem it was created to solve. MetaPets strikes me as a metaverse niche token, that is brilliantly conceived. Here are some of the key takeaways. The below 3 paragraphs are quotes lifted from metapets’ lite paper.
Metapets aims to be a first step in bringing love and companionship to the metaverse in a personalized way, allowing users to become owners of pets of their design.
It’s hard to get over the sadness, the loss, hard to feel like a new pet won’t leave you too. But imagine you can own a forever pet in the metaverse.
MetaPets’ goal for the future is for MetaPets to be the ultimate platform to create and manage pets in the metaverse, and it will be the first game, the first customizable virtual pets in this highly advanced, fast-changing digital world.
After reading the first section of the lite paper, knowing humans don’t live forever, my question is, what happens to MetaPets when their owners eventually die?
As we said earlier, MetaPets has so a lot of utilities. Their roadmap is promising. Some of MetaPet’s utilities include Price Fund Games, Non-Fungible Art (NFT), DAPPS, Metaverse. Click to know more about these utilities.
It is important to know that 95 of these utilities are not currently in existence. These utilities are projects the MetaPets devs are committed to working on.
Market Capitalization and liquidity Pool
MetaPets is currently has a $10, 437, 612 market cap. This means that this token is turning heads and dragging investors in. I do not doubt in my mind that this market cap will continue to grow. The market cap is still very low.
Metapets liquidity pool is currently valued at $1,232,913. 99% of the liquidity pool is locked in a contract on pinksale. I could not determine the lock time frame. These days, serious tokens go all out to burn or at least announce the period under which their liquidity is locked in a contract, so I’m sort of surprised this isn’t the case with Metapets. However, 99% lock is good to save one. Confirm from the team the liquidity lock’s time frame, before you decide to invest in this token.
MetaPet has a total number of 23,708 holders at the time of writing. This is healthy and suggests willing investors are early to the party.
Developers of MetaPets
This is where I get suspicious of the Metapets. The ‘team’ is a picture of 50 something-year-old white men named Dee N. Is Mr. Dee N the whole team? And the name Dee N is so corny, I find it strange. I did a simple Google search of the name and I found a LinkedIn profile. Mr. Dee N apparent just joined Linkedln some 3 months ago and has zero connection, where has he been all his professional life?
Mr. Dee N’s profile looks like a fake profile. The profile picture is random, it looks like something that was stolen from a random profile on the internet. Metapets team is not doxxed. This is a red flag. I don’t see a reason why the team should be ‘hiding’ if something is not off with the project.
What investors are saying about the MetaPets
On Twitter, some investors are accusing the dev team of stealing and kicking people out of the telegram group because they ask simple questions.
This is a red flag.
On Reddit, folks are looking for information about the token.
On YouTube, investors are hyping the coin to be the next big coin to explode. I want to advise you, do not to take the comment section of youtube seriously. Some YouTube commenters are as clueless as a goldfish.
MetaPets seem to carry a lot of meaning. The idea is fantastic. It is an idea with loads of potentials and room for growth. However, the Metapets project just sounds too good to be true. They have so much on their plate, too soon, you’d begin to doubt the practicality of it all. Remember that the contract hasn’t been audited. The dev team is unknown. You could see that they desperately wanted to cover that up, with the fake LinkedIn profile. Investors are complaining about getting kicked out and muted in the community. Metapets hasn’t released any project. All their projects are ‘coming soon. There’s a general lack of transparency in the MetaPets ecosystem. Metapets is currently all promises and know real substance.
I’m not calling Metapets a scam, but the signs are obvious if you pay close attention.
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