Read this Post from Beginning to End.
I’d like to address the current trend of the hyped blockchain play-to-earn games we are seeing the past couple of weeks.
I see a lot of posts online saying that they lost a lot of money and their life savings with blockchain games and are now calling it a scam as a whole.
It’s a bit disheartening but it can still be a learning experience for everyone in this video I’ll explain some important things about blockchain gaming.
Its future sustainability, and some important things to keep in mind before deciding to invest in any of them.
First off, before we get started, I’ll ask you a question.
Among the blockchain games you are currently playing or planning to play, is there any chance that you or anyone in the world will still play the game when the earnings are gone?
Does it have any fun gameplay element into it that can make it fun to play even without earnings?
Keep those questions in mind and let’s get back to them later in this post.
I’ll try my best to make my points as relatable and as easy to digest as possible, so i won’t be going through any complex crypto and blockchain terms in this post.
So, please just watch every section from beginning to end. The information you can get from this video can save you a lot of pain in the blockchain gaming space.
And your wallet will thank you for it.
The Current Hype Trend
So, I’ve been seeing a lot of sketchy games coming out recently.
The kind of games that offer lackluster and very basic gameplay, while also promoting itself as a big money-making game with just a few clicks
–causing big hype to the blockchain gaming community! Especially to those who are new to the blockchain and crypto world.
Wow! Earning money has never been so easy right?
Well now, I’ll talk about why this part right here is a big red flag that should prompt you to start thinking of running far from it as fast as possible.
I’ve already pointed out that these games offer very basic gameplay -now that right there is the main root of the problem already. Why?
That’s because players that will come into these kinds of games will have the same mindset: and that is to earn as much money as fast as possible.
Never mind the “game part” of it, no one will care about that. It’s 100% about the earning opportunity.
No one will ever say that they love the fun and complex gameplay of any of these games, I mean, why would anyone say that?
You just click a few buttons, then wait to see if you win or lose, then you’re done!
I’ve played y8 games, 10 plus years ago, that are much more fun to play than those games.
Now I’ll explain why this model and the player base they attract will inevitably lead any of its games to its downfall sooner or later.
The Hype & Pain Cycle
Here’s how it works, I’ll use Bob as an example
So bob entered the game at the very start, where the minimum investment required is really cheap. Awesome!
So he got in at a low price. He gets pretty good rewards every day easily and quickly.
A few days later, the hype was getting built up and other people started to notice that there’s a game that gives you crazy rewards just by doing simple tasks and requiring minimal time and effort.
More days passed by, more people came into the game and the crypto reward price kept rising -making the rewards Bob is bigger and bigger.
And the minimum investment required is now 20 times higher than when he started.
So now, Bob is extremely happy! He then decided to invest all the rewards he has earned so far into the game.
He did this to be able to earn more of its crypto rewards thinking that it will never end!
Like i mentioned earlier, the problem with this is once the token prices get so high, the minimum investment required to play gets too expensive for new players to come in.
But bob is still very new to the crypto world and he thought that the earnings he was getting just magically appears out of thin air… but… it doesn’t.
It comes from new investors flooding into the game who just want to join the hype train.
When new batches of people stop entering the game to invest, and when there is no more new money coming in into the economy, what happens?
The high rewards that are given to Bob and other players cannot be sustained and will dramatically decrease.
You’ve seen this many times before,i’m sure. And because the game is really basic and offers no fun at all, there won’t be any players that will stick around once the rewards get so low.
They would rather find another game where they could get bigger rewards.
Of course, it’s all about the earning potential! When that happened, the game token plummeted to the depths and the token price fell back to when Bob first entered the game
–making him only break even. Well, it’s a good thing bob entered close to the lowest price so he didn’t actually lose that much money.
But imagine if you’re one of those people who bought in at the top… Scary right?
Bob then tries to find a similar game just like that, and the cycle goes on…
I hope this part makes sense. I know this may seem scary and might seem like FUD, but this is the reality today that not many people are talking about openly
I’m pretty sure a lot of people have either experienced this themselves or know someone who did.
Now, I hope this doesn’t entirely scare you into trying any blockchain games out there.
Not all blockchain games are created equal, you know? Some will be better than others.
What Makes Some Traditional Games so Succesful?
Let’s talk about how a blockchain game can survive the issues I mentioned, to be able to last long term.
To be able to explain this easily, what better way than to take a look at the traditional games that were able to last through the years.
Some games that come to mind are CS:GO, Dota, Mobile Legends, and Fortnite.
These games have a really strong player-base that play ridiculous amounts of time!
A lot of players even invest a lot of money in these games by buying skins, rare items, exclusive characters, or season passes!
You may be wondering, just why do the players from those games invest money on these assets.
What do they get out of it? Well that’s easy. They do it because the game is fun to play!
And they love spending time within the world and the community, and by buying those skins, rare items, exclusive characters, and season passes they feel that those things increase the fun that they are experiencing while playing!
The developers are technically selling a fun experience to get profits and IT. JUST. WORKS.
That’s why they continue to be successful and profitable for a long time, even years after its launch date.
When people are happy and entertained, players won’t mind spending some money on it.
Now, how can we apply that with blockchain games? I’ll keep this part short.
I mentioned in the last section that traditional games were able to last and be profitable for a long time because they keep their players happy and give them a fun experience in playing their games.
Let me ask you…
Why should we treat blockchain games any differently?
It’s easy. The blockchain games that can last in the long term are the games that can offer a fun gaming experience.
The simple difference between the two is that when people buy skins or other game items from traditional games, a hundred percent of the profits goes to the game companies.
But with the integration of blockchain, those profits can now be shared with the players in the form of game tokens or ownership of game assets that can be sold in the marketplace
–allowing gamers to own a part of the game that they love to play with authenticity and be able to sell or trade the items they acquire in the form of game NFTs.
I mean, that’s really what gamers have been wanting to have for a long time!
To all the gamers out there, we are currently living in a dream.
I know that there are other aspects of a blockchain game that also needs to be checked before you invest.
Info like the game developers, the tokenomics, their future plans, and roadmap.
But the core will always be about how the game is played, how it can keep the gamers entertained, and what would make them want to keep coming back for more.
Okay. The reason why I’m really not a fan of the games I mentioned at the top, besides of the pump and dump nature of them, is that they also give blockchain gaming, as a whole, a bad name.
And worse, they can make mainstream adoption take longer than it needs to.
That’s why we are currently seeing a division online because more and more people are jumping into this space with the mindset that it will make them rich quickly, instead of thinking about the games themselves
–only to get wrecked and be a hater of the technology that they didn’t take the time to understand.
Still, I’m positive that games like those will die out sooner or later, and I would hate for any of you to be holding large bags at the top, thinking that the rewards you earn can be sustained for a long time.
Your Answer to the Important Question
Now, let’s go back to the question I asked you at the start of this post.
Among the blockchain games you are currently playing or planning to play, is there any chance that you or anyone in the world will still play the game, even when the earnings are gone?
One of the major reasons why you should invest in a blockchain game should depend on your answer to that question.
If fast and easy money is what you seek, then you might hate me for making this post. I’m sorry about that.
But if you love gaming and you are truly looking forward to the future of games, Play2Earn, and asset ownership in the blockchain, then you will be seeing more of me in the coming months and years.
I’m in this for the long haul. Are you?
Thanks for reading this post! I hope I was of help to you in some way.
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Til’ next time!