MicroPets Review: Legit or Scam?

Micropets is a token I have been meaning to do a review on. The token (Micropets) is about a month old and has continued to rank, high in coinmarketscap.com trending list, attracting the interest of many investors across the world. Just a few days ago, I did a review of Metapets, you might want to check that one out. I currently have no idea whether Micropets and metapets are similar tokens. However,  the ‘pets’ in their names suggests so.

This Micropets review is for those who already have invested in micropets, those who are looking to invest in micropets, and those who are just curious about the token. I will make the seemingly complicated crypto speak simple and clear.

However, before we can go into reviewing Micropets, you and I need to establish an understanding. (I do this all the time)

“I’m not a banker or a financial expert. I will not be held responsible for your financial decision. This article is just a guide and nothing more.”

That said, let’s get into the review.

MicroPets’ Website

Micropet’s website is unreal, simply beautiful. The purple and white theme has a welcoming effect. Whoever selected the font family and font size is a wise person. Everything is so legible and clean. It’s one of the classiest websites in the crypto space in my opinion. The website combines images, text, and videos to a devastatingly great effect. I also like the fact that the website is SSL secure. SSL security is one of the first things I look out for when I am checking out a website.

The description begins with a video and an easy-to-understand “about section”.

“Meet MicroPets – Home to the cutest NFT’s on the Binance Smart Chain! We’ve taken your favorite memes and packaged them up into adorable pets you can trade or stake. The rarer the MicroPets the better the rewards.”

If for some reason you didn’t understand the above quote. Here’s a simpler explanation (I hope).

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Micropets is mostly about NFTs. The Micropets platform helps investors to automatically create (mint) these unique NFTs for trading and staking. The more scars the NFT, the higher the reward yield for the investor.

Moving on.

Micropet is Certik audited, with a 93% security score. This is awesome. Not many tokens out there have audited contracts. This Certik audit significantly reduces the risk for investors.

Micropets claims it is working on a play2earn runner game. Think of it as a version of Super Mario but while super Mario wastes your time, micropets runner rewards players with micropets tokens, which can be traded for fiat or other crypto assets. Micropet runner is being developed by Cubix, a global app development company. I verified this claim. This claim is true.

Samples of mcropets’ NFT’s were displayed. Micropets also have special edition NFTs based upon seasons and trends around the world.

Tokenomics

The total supply of micropets tokens is 10 trillion. This is a reasonable supply in my opinion. Micropets has a buy and sell tax of 7%. This means that every transaction in the micropets ecosystem will be charged a 7% tax. Here is how the tax is broken down. 2% is distributed to the liquidity wallet, while 5% is sent to the marketing and buyback wallet. Micropets is deflationary due to the buyback feature in its tokenomics.

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White Paper

Like the website, micropets white paper is a well-designed, fun, and unique 16-page downloadable pdf. We already addressed some of the content of the white paper. Therefore I’ll just be talking about the that are absent from the website.

Micropet Staking

For those who don’t know,  staking cryptocurrencies is a process that involves committing your crypto assets to support a blockchain network and confirm transactions. it allows participants to earn rewards on their holdings. Therefore staking NFTs is the act of tying up NFTs to a protocol to earn a yield. It gives NFTs passive yield-generating utility. Micropets let’s invest stake their micropets NFTs.

Market Place

Metapets has a native marketplace where investors easily sell their NFT pets either as individuals or in a stack.

Farming

There are plans to introduce ‘farming’. This will take the micropets NFT’s to another level. It is involving because investors will be responsible for caring for their pets and watching them as they grow.

The DAPP Tech Stack

Here the micropets team lets us know that the micropets contract is flexible and dynamic as it leverages both on-chain and off-chain data. Making it upgradeable and easy for future features to be added to it, as the hype shift from one trend to another.

Market Cap and Liquidity

The current Micropets market Cap is $33, 407,650. For a token that is less than 2 months old, this is a fantastic market cap. It shows that micropets have loads of believers that have their investment in the project.

Micropets’ liquidity pool is currently valued at $2, 297, 855. About 64% of the liquidity pool is locked in Pinksale. While 17 is in micropets’ deployer wallet. The rest are in unlocked wallets. In my opinion, the liquidity pool lock percentage doesn’t inspire loads of confidence, but it is okay.

Currently, there are about 62,037 holders of this token. This is massive. Micropets is not even two months old

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The developer behind the Metapets

The Developers of micropets are undoxxed. This is the only major concern that I have about the micropets so far. Being doxxed takes away an unbelievable amount of uncertainty around a token. I’m surprised the team behind micropets are undoxxed. This is a red flag.

What investors are saying about Micropets

On YouTube, investors are full of hope for the micropets. These are investors’ comments from a YouTube review of micropets.

On isthiscoinascam, investors are excited about the project. No one has a bad word to say about the project.

Screen Short from isthiscoinascam.com

Conclusion

Micropet is legit. It is Certik audited. Market cap is progressively growing. Developers are honest with their claims. Investors are not regretting they invested in micropets. I’m however concerned that the developers aren’t doxxed. I think the dev team being doxxed will make them one of the best tokens out there.

If you enjoyed reading this review, kindly drop your comment in the comment section. You can also help me share it.


You can check out my other review here.

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