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Getting Into NFT Games? Beware of Scams!

by James Anders - 23 Aug 2022, Tuesday 230 Views Like (0)
Getting Into NFT Games? Beware of Scams!

One major setback that keeps few people from entering the crypto world will be the scams that keep popping up on the headlines of the news and social media. Though projects come with a disclaimer about the market risks and other terms, people still invest in crypto. While few get successful, for few, it becomes a nightmare. NFT gaming platforms and NFT gaming marketplaces are yet another platform that people prefer not only for a good passive income but also for fun gaming experiences. If you are someone who is unable to find a potential NFT gaming project or looking forward to getting into one, this is for you. Here are a few insights and tips to look out for scams while searching for an NFT gaming platform.

Getting started with NFT games 

Just like early crypto projects, NFT games also have the threat of being a scam. There are many scams like the famous Squid Game P2E currency scam that made people skeptical about anything that is related to blockchain now. A play-to-earn NFT game is a game where the players buy the in-game items as NFTs, which becomes a tradeable asset. The players also earn money in terms of cryptocurrency or in-game tokens every time they play the game. 

Many games launch their in-game token first and raise funds and will use them to develop the game. There were many instances where the developers scammed gamers and investors who put their money on a promising game. Some games release their in-game NFTs first and later release the game later. 

Spotting a scam

Just because you like the gameplay or the graphics of the trailer they launch, investing in an NFT game might be a hasty decision. It is important to have deep research on the background of the project, the developers, and others before deciding to play it. Here are some tips for you to look out for spam while you are in search of a good NFT game to enter. 

Look out for the project developing team, its background, its history, and everything that you could find on the internet. Check the experience of the team and their previous history of scams or others.
Look at the roadmap of the project and check whether the project is running based on it. Look for the updates of the project as per the road map. Check whether there is a regular update on the same.
Check out the whitepaper of the project. It is important to examine whether they are detailed in what they do.

  1. Look out for the social media engagement of the team with the investors and gamers who are interested in their project. Do they have a community on any common platform? Are they actively responding and interacting with the community members? All crypto projects have a community for themselves and a common interaction platform.
  2. Interact with the community and check what they think about the project. Check for the reviews of the same.
  3. If the project has already released its in-game NFTs, you can validate the NFTs to check their authenticity. A blockchain explorer like Etherscan will help in validating the NFTs with respect to their details and Meta Data. This will help to differentiate the counterfeits from the original ones.

The Bottom line??????????????

NFT games are not seen as just games these days. And it is also not restricted to gamers alone. People who are interested in NFTs and NFT trading are also getting into play to earn NFT games. This is because these games have more potential to earn money than buying and selling NFTs.