After DeFi and NFTs, Play2Earn games and GameFi, in general, were supposed to be the next big thing. Unfortunately, many games turned out to be unsustainable and most tokens plummeted. The global market situation has exacerbated the trend and the bull market has given way to a bear market, with all its pain and sores.
The Fantom Blockchain had seen some more drama of its own. With an innovative AMM concept by Andre Cronje, Fantom was able to create great momentum, however, quite a few bugs in the code as well as the rage quite of him caused a real hangover. Teams are trying to stay afloat going cross-chain, and extensive community initiatives like FTMAlerts have completely switched focus to other blockchains.
Despite all this, Fantom offers a great infrastructure, providing fast and cheap transactions. A small but fine community has remained. Fantom Nobles builds up on this, our goal is to forge a compact and strong community focused on GameFi tournaments. Our motto is simple:
“To see the meaning of freedom in striving for excellence, taking responsibility, and serving unselfishly.”
Most tokens of web3 games, that claimed to be Play-2-Earn, or any other combination of the two, suffered a huge decline in the token value. Most projects are down 90% or more. Lucky games, that didn’t launch their token at the end of the bull are in a way better position. They don’t face the frustrated investors that lost all their money. They can focus on building the actual game.
Some projects have really bad tokenomics as well, it’s hard to focus on building a game and managing the tokens properly. This leads to a negative spiral, leaving everyone frustrated behind.