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.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
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.