GameFi has probably been the worst vertical we have ever tried in crypto.



Just a few prominent examples:

@GUNbyGUNZ / $GUNZ: raised more than $82M (plus some undisclosed rounds), currently trading at $118M FDV, down -89.7% from ATH

@playSHRAPNEL / $SHARP: raised more than $57M, currently trading at $5M FDV, down -99.6% from ATH

@PirateNation / $PIRATE: raised more than $33M, currently trading at $6M FDV, down -98.7% from ATH

@staratlas / $ATLAS: raised more than $13M, currently trading at $10M FDV, down -99.9% from ATH

Many such cases, they basically look all the same.

Massively overvalued and overfunded rounds, VC circle-jerk cap tables, horrible tokenomics, weak products, maximum value extraction, and close to zero real value created.

Pretty much everything that could be done wrong, GameFi managed to do wrong.
GUN-2.84%
PIRATE-1.19%
ATLAS-5.49%
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