The `ruining` of `bicycle games` has caused many Vietnamese Play-to-Earn projects to be heavily affected? 2
Since Axie Infinity exploded around the world in the summer of 2021, the GameFi (or NFT game) development fever has never exploded like this in Vietnam.
`Although there are no complete statistics, the number of GameFi projects launched monthly from game developers in Vietnam often accounts for a large number compared to projects implemented by foreign game developers.
Besides Axie Infinity, Vietnam can be considered a country with good fortune in developing GameFi projects in 2021.
Worth mentioning, besides extremely successful projects, there are still a large number of GameFi Vietnamese projects that have encountered a series of operating scandals.
This not only worsens the image of Vietnamese GameFi projects in the eyes of domestic investors, but can also affect foreign investors from countries such as China, Korea or other countries.
Are foreign investors fleeing from many GameFi Vietnam projects?
According to data from PooCoin Chart, a series of prominent Vietnamese GameFi projects in the click-to-earn line (click to receive tokens) similar to CryptoBike are witnessing a very strong sell-off wave of investors in the last few days.
For example, the value of CGAR (the token of the CryptoGuards project) is currently ‘sinking’ when it has plummeted 5.3 times compared to the ATH mark (highest price of the time) set on December 27.
The price chart of CGAR (the token of the CryptoGuards project) is currently `sinking` when it has dropped sharply by 5.3 times compared to the ATH mark (highest price of all time) set on December 27 (Photo taken).
Similarly, CryptoShip, another click-to-earn GameFi project with a similar name, is also experiencing a sharp decline in token value (CSHIP).
According to the comments of a few experienced investors, the domino-like decline of a series of Vietnamese click-to-earn games may have originated from CryptoBike’s own incident.
`The fact that the CryptoBike development team carried out a trick of appropriating 1.4 million USD and then disappearing is creating a psychological effect of FUD (Fear – Uncertainty – Doubt, roughly translated: Fear – Uncertainty – Doubt) to
Of course, this just stops at the level of speculation, as there is no clear evidence or data that foreign investors are actually withdrawing capital from Vietnamese GameFi projects.
However, it is incidents like the above that are invisibly causing a number of ‘real deal’ blockchain projects in Vietnam to be significantly affected in terms of public opinion.
`The fact that some GameFi projects from Vietnam have caused loss of trust in public opinion is significantly affecting the communication campaigns of some blockchain projects developed by Vietnamese people, which are invested very seriously. Although
GameFi (short for Game + Finance) is the term for blockchain games that combine financial elements.
