'Dump' with the game NFT

 Hoang Thien (Hanoi) bought 30 smartphones and 30 sim cards to join a running game to earn money in the hope of recovering capital in a month.

"I invested more than $4,000 to buy a phone and sim data for the purpose of playing games. However, this amount is nothing compared to the capital spent to buy virtual shoes. For each pair of shoes costing $ 1,000, the amount I spending is $30,000," said Mr. Thien, 33 years old, about participating in an NFT game in the form of M2E - running for money.

30 smartphones and sims are used for running games to earn money. Photo: NVCC
30 smartphones and sims are used for running games to earn money. Photo: NVCC

On average, he earns 30 USD per account per day, or 900 USD for all shoes. "Of course, I can't play with 30 phones by myself. I hire joggers or students for a certain amount of money by agreement," he said.

After 22 days, Mr. Thien said he had recovered his capital, but confirmed that he would only play for about a month depending on the situation and then sell NFT shoes and find a new game. "NFT game life is very short, I will exit soon when I predict it will peak," he shared. Before coming to the aforementioned M2E game, he also participated in a number of other NFT games with the same strategy and made thousands of dollars.

Hoang Thien is one of the people who like to "take a bet" in the NFT game market. According to Vu Thanh, the administrator of a group specializing in money-making (P2E) gaming with more than 30,000 members, people like Thien are not uncommon in the cryptocurrency market.

"They specialize in hunting for trending new projects, joining very early and withdrawing when they have made a profit, then looking to other projects," Thanh said. However, finding quality projects is not easy because players also have to be able to assess their potential. In a decentralized environment, they can face a series of risks of the cryptocurrency market, especially rug pull - where the development team behind the investor's money runs away.

In fact, before "testing" how to play NFT games to make a quick profit, Mr. Thien also tried to participate in some P2E games but only lost money due to late entry or premature death of the project. "I used to lose $20,000 for games like this," Mr. Thien said.

In May, Tran Cong (HCMC) also participated in a P2E game about racing. But after spending $3,000 to buy three racing cars in the game and having only played for a few days, the team behind disappeared without notice, causing the project's token to plummet. "Now the number of tokens generated every day is not enough to buy a cup of iced tea. Item sold also no one buys, I determined to lose all the money," said Mr. Cong.

Faced with the situation of "eating out", some experts recommend that many money-making games in Vietnam today are not sustainable, running on a multi-level model. According to The Vi, who has 5 years of experience in blockchain games, most NFT games can now be considered "super ponzi" because they take money from the latter to pay the former, thus only bringing profits to the participants. first family.

"Usually, the initial token price is low, it is possible to buy characters and items quite cheaply. After many people know about it, the token price increases sharply to help them make a profit," explained Mr. Vi. "However, after only a few months, their price may drop sharply due to more and more mining, leaving participants at a disadvantage, holding a bunch of worthless NFTs."

According to this expert, users can join the game since the project has not been released and learn more about the model. However, they should still determine the psychology of losing everything because the game can "collapse" at any time.

According to a survey for the period from March to May by Finder, an online data research company in Australia, Vietnam is one of the top five countries in terms of the number of NFT gamers. 23% of people surveyed in Vietnam said they are participating in the NFT game.

Recently, the NFT market is showing signs of slowing down. According to experts, most of these games are not sustainable, because players mainly participate for the purpose of "plowing" to earn and withdraw money, rather than investing back in the game. Although companies try to diversify the types to attract, some experts still believe they are just a fad that cannot last for many years.

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