Blockchain/crypto and NFT games have become more attractive as a means for users to collect and ‘possess’ one-of-a-kind digital items, or at least pursue the idea of it, with the goal to make money. Some people claim that it’s the future of gaming! Although these games could be interesting and entertaining, it's important for players in general to be informed of the potential risks. Let’s discuss!
A risk to consider is the volatility of cryptocurrency. Many blockchain games use cryptos, such as Ethereum, as the currency for buying and selling in-game items. The value of cryptocurrency can fluctuate significantly over time, which means that the value of your in-game assets may also fluctuate when compared to USD. This can be especially risky if you have invested a large amount of money into the game (please have a look at ‘the biggest CRASH in NFT History’).
Also, dear reader, consider the potential for fraud. Since blockchain or crypto games are still a relatively new and unregulated industry, it's possible for fraudulent or unscrupulous individuals to take advantage of unsuspecting players. It's important to do your due diligence and research any game or item before you invest time into it, Keep your eyes open regarding cryptos themselves, for they could be a centralized coin/token at the discretion of the team that created it. Beware! If this is the case, there's a 99.99% chance that the crypto you could be rewarded with or invested in, well, it's another sad case of an obscure ponzi/pyramid scheme.
In addition to the risks mentioned above, there are also other potential risks to consider when playing blockchain games, such as the potential for hacks/attacks or server downtime. It's crucial to be aware of these risks and to make sure that you are taking appropriate precautions to protect your assets. As soon as money gets involved, you are inviting all speculators and hackers that will try to outsmart the system to make a juicy profit out of it; crashing the game in the process!
So, that being said, we may do a quick search on Twitter and realize many people like to play blockchain games and gather NFTs despite the dangers mentioned above. Please make sure to conduct your own good research and be aware of the potential risks if you're interested in getting involved.
And we at THNDR say: buyer beware!
PS: we recommend sticking to bitcoin and earn fractions of this coin without any upfront investment with our free to win games. Enjoy!