We all need to accept the fact that Ponzi is a natural part of any X-to-earn project. But in the GameFi world, Ponzi scheme ≠ scam. This is a product of the GameFi market. X-to-earn is part of this, and the reasons why many tokenization projects fail can be attributed to three intertwined reasons:
1. The Speculator Effect and the Consequences of Pump and Dump
2. The project team lacks timely control
3. Failed to provide sustainable utility or become the first product
