The development team of the friend project, which was once a leading socialfi project, announced on Twitter that it would give up control of the project and transfer the friend smart contract to the Ethereum black hole address. No one can change the project code, and no new features will be added, so the status quo will continue to operate.
This means that the team has given up on Friend, which can be considered a soft escape.
In nearly a year of operation, the Friend team earned $45 million in agreement fees, making a considerable profit.
Any web3 project that can go viral or succeed at one point will gain huge profits. This also leads many people to explore and develop new ways of playing. As long as they succeed, they will gain dozens or hundreds of times the profits.
Maji, a veteran player on the chain, is the largest individual holder of $FRIEND tokens. As the project ran away, the token price continued to fall, and Maji suffered a floating loss of 15 million US dollars.
For the big guys, these amounts are nothing to worry about. It is just one of the investments. If there is a loss, they can naturally make it back from other projects.
A group member invested 20 ETH on Friend, and the key he held was once worth 200 ETH;
However, the project has not introduced any new gameplay, nor has it been sustainable. The keys have not been sold in time, and the FRIEND airdrop has not been cashed out at a high point. Now the price has almost fallen.
Instead of making any money from friend, I lost 20 ETH. The new gameplay requires a huge cost of trial and error.
There are various new ways to play on the chain. If you succeed, you may get ten times the return. If you fail, you will face a zero result. You can only make money if you can afford to lose. If you lose, look for the next one. There will always be one that will succeed. As long as you succeed, you will get a rich reward.
There is another group member who invested hundreds of thousands of yuan in the web3 game Pixel Farm, and is currently losing more and more money the more he plays.
He hired two employees to open a studio, operating more than 1,000 accounts, most of which were old accounts he purchased. He also had expenses for game scripts and computer equipment. He invested more than 100,000 yuan in total, but had no income after more than four months of playing.
Every time the game is updated, a batch of accounts will be blocked, and the price of pixels continues to fall, making it difficult to recover the investment.
Considering the current crypto market conditions, it seems that the 100,000 yuan invested by this player in Pixel Farm will be wasted, as it is too difficult to make money.
After Pixel Farm was launched on Binance in February, its price once rose to 1u, and it was quite effective for making money in games. Now the price of Pixel has dropped to 0.13u, a drop of more than 87% from its peak.
Early players of Pixel Farm earned gold coins by completing tasks and exchanged the gold coins for pixels. It was a real zero-cost gold-earning game. Before the game went online, each account could earn an average of more than $800 in zero-cost income.
Although the game is free to play now, if you don’t purchase VIP, which costs 35u/quarter, there will basically be no pixel token tasks, and the gold coins you earn cannot be directly converted into cash in the game.
After the game was launched on the platform, its heyday gradually faded, and players who entered the market later received low returns or even had their money reversed. Especially for players who purchased accounts and VIP memberships in bulk, it took them longer and longer to get their money back.
When it comes to on-chain projects, the timing of entry is very important. The earlier you play, the earlier you will profit. If you enter late, you may become a bag holder. All projects have no sustainability, including various NFTs, chain games, MEME, etc.
Some old players in the cryptocurrency circle said that in 5 to 10 years, BTC will definitely rise to 1 million US dollars per coin! It is unimaginable!
The current BTC price is 60,000, and there is still 16 times of room for growth. If you can hold 2 BTC, you can win without doing anything and achieve financial freedom.
The current market value of BTC is 1.186 trillion US dollars. If it rises to 1 million US dollars, the entire market value will exceed 20 trillion US dollars, exceeding the current gold market value of 17 trillion US dollars.
At that time, BTC will truly become digital gold!
Judging from the current perspective and market, many people do not believe it. Even if they believe it, they may not buy it. Even if they buy it, they may not hold on to it. Even if they do hold on to it, they may have forgotten the mnemonic phrase. Only very few people firmly believe in it and execute it.
Whether you call it recharging your faith or being a buyer, it is difficult to be a BTC believer and holder, and the risks are also huge.
The crypto market is full of huge uncertainties. Some people make money while others lose money, some enter the market while others leave, and many people say hello and call each other idiots.
No one knows the final result, nor can we predict the future, so just walk, watch and experience it.
The above is just my personal opinion, not investment advice. I am Chuxiaolian, and I am paying attention to the crypto market and web3.
