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The danger of investing in NFT games
It is no secret to anyone that NFT games have been one of the biggest booms this year. Every time a game came out thousands of investors from all over the world came out to put their money in. Unfortunately, this is something that could start to change, which could affect future releases.
Despite the boom in these types of games and the fact that many people have made fortunes with them, the truth is that investing can be much more dangerous than you may believe.
One of the things you need to be clear about is that NFT games are a pyramid, whereby the people at the bottom feed those at the top. This is not new, as most NFT games work in a fairly similar way.
Is investing in NFT games a bad idea?
NFT games could not be considered a bad investment if you know how to do it. Obviously if you invest blindly and without a good analysis, this is something that can end up losing you money.
As we already mentioned, all of these games are ponzi or pyramid schemes. As long as the pyramid gets new investors, the ones that came before are going to make a profit.
However, at a certain point, when the flow of new investors diminishes and the reinvestment in the project diminishes, that bubble will eventually burst.
So, investing in NFT is not a bad thing, but it is necessary that you do it with awareness and informing yourself as much as you can. If you do a good analysis, you will be able to obtain good benefits with these projects.
The topic of scams in NFT games
Due to the very demand that these games have had, not only have some excellent ones appeared, but the scammers have multiplied. Is that scammers no longer just try to steal your coins by accessing your wallet. Now the new trend in setting up an NFT project, getting investors and then running away with the money.
Several cases have occurred in recent days, in which the "developers" of the project steal the investment of the players. One of the best examples has been FarmLand, a game that consisted of cultivating planting (similar to Plants Vs. Undead).
The developers created a whole project that at first glance seemed serious and even interesting. However, once they found investors and made pre -sales, when the game launched they fled with almost $90,000. But it has not been the only one, there are many who use this same modus operandi.
Another widespread scam model is the creation of a fake token similar to the real one. Many unwary ends up making a mistake and buying the fake token (scam) and therefore end up losing their money.
Unfortunately, the ease of creating a token has allowed this practice to spread. So if you want to invest in a project, first make sure it is the real token.
The life cycle of an NFT game
There are many projects that at first glance seem solid and look very good, however, this is not something you should get carried away with.
What we have learned about these types of investments is that they do not last too long (pyramid scheme). These types of investments are a book, they have their beginning, then a climax and end up dying, some in a noisy way and others in a slower way.
Let's take some examples, one of the most popular games in recent months was Cryptomines. This game started like any other, some stumbles, but managed to get ahead. At its peak, the token was worth more than $700, a milestone for any NFT game. However, just 4 days of panic were enough for the project to die.
In short, NFT games usually have a short life, two or three months at the most. It is true that there are exceptions such as Axie Infinite that has been with us since 2018, but in general, the duration of these is short.
So the earlier you get into the project, the better your chances of making a profit.
In the event that you find a project that has some time (a couple of months) you should think very well before entering. The ideal is to analyze the project very well before making a good decision. You should also join their social networks, as this is a good way to know the real status of the project.
What to expect from NFT games in 2022?
We already talked about how 2021 was a very good year for this type of project. There are dozens of active NFT projects on the web and there are a few more to come.
It is very likely that 2022 will be quite similar, so we will see the birth of many games. Some good, some not so good, and some that will be scams. Therefore, if you plan to invest, you must be very careful not to lose money.
The objective with this article is not that you are afraid of NFTs, the purpose is that you understand the risks that you can take. And this is because by knowing the risks, you will be able to make better decisions. And is that a good investment can multiply your capital, but a bad one can also make you end up losing everything.
