What is Merit Circle Token? How To Buy MC Tokens In India?

What is Merit Circle Token?

With the rise of Web3 and Metaverse, DAOs like Merit Circle have gained huge attention and are been used widely. Merit Circle is one such DAO that was initially launched as Axie 420 Scholarship, aiming to offer scholarships to individuals in developing countries to play the play-to-earn (P2E) game, Axie Infinity. After receiving huge success, the platform expanded beyond the game and formed a DAO called Merit Circle. 

The main purpose of Merit Circle is to increase accessibility and participation within the Web3 space by offering scholarships. The platform also invests in early-stage P2E projects along with various other assets like NFT gaming items and in-game land, etc. 

Who Are the Founders of Merit Circle?

Marco van den Heuvel founded Merit Circle and is the present CEO of the platform who previously worked on various blockchain projects including Presearch. Merit Circle’s native token MC was launched with a total supply of 1 billion out of which 20% was allocated to team members & advisors. 

Further, 29.4% were used for community incentives which will be allocated to early investors. 7.5% is reserved for public distribution and 15% will be kept reserved for the DAO. the remaining 14% will be used as rewards. 

How Does Merit Circle Work?

Merit Circle mainly comprises four elements or verticals which has the potential to stand alone with their own product. 

• Merit Circle Investments: 

Ever since the launch, the DAO has invested in multiple projects and has also created an extensive treasury of venture, token, and NFT investments

• Merit Circle Gaming:

Here the DAO incubates games and also invests in them. It has a prominent gamer community and by developing a gaming platform, they intend to bring all together

• Merit Circle Studios:

The main purpose of this vertical is to create innovative projects and collaborate with other projects. 

• Sphere NFT Marketplace:

Using Sphere, the gap between the NFT market through the experience in decentralized gaming. 

What Makes Merit Circle Unique-Uses Cases?

• It is a leading DAO, intending to maximize value across different games in the metaverse offering an intersection of Capital, expertise, and players, investors, managers, and gamers
• The platform aims to offer life-changing income for gamers and the gamers have also utilized the scholarship program created for them 
• Merit staking allows the user to choose the time period to lock up the tokens. The longer the tokens are staked, the higher the reward could be
• Merit’s Moralis money is a tool that helps traders to combat three main challenges, FOMO, Scams, and Time constraints

Merit Circle Price Analysis

Source: Tradingview

• The MC price is trading within a parallel channel and woefully heading toward the lower support of the channel.
• The bears have dominated the rally, and hence the ADX, which determines the strength of the rally, is plunging down.
• Meanwhile, RSI is showing a bullish divergence, which indicates the price may undergo a rebound very soon, but due to the weakening rally, the price may remain consolidated.
• Therefore, the price may reach the lower support of the channel and trigger a rebound and rise to reach the middle bands at $0.36 in the coming days. 

How to Buy Merit Circle in India?

If you want to buy Merit Circle in India, just follow the below-mentioned steps,

• Download the CoinDCX App on your Smartphone 
• Enter the details required for registration 
• Complete KYC
• After verification, fund your wallet and buy MC