In the months following the announcement of my company’s first experimental title, Cyberstella, visits to my personal LinkedIn profile increased by an astonishing 300%. What does this tell us about the rising trend of anonymous developers popping up in every Web3 community to spam users with investment opportunities and then disappear from the face of the Earth?
Well, it spells out trouble for anonymous crypto developers who think they can get away with never putting their face where the money is, so to speak.
The fundamental principle behind crypto investing is a two-step process: Issue your project’s native token, leverage it for profit, and re-invest what you made into the project’s development itself. It’s an easy and straightforward way for builders to raise funds and keep their work up, while supporters can benefit from a token with a fluid environment and from feeling like they’re a part of the developer community, as well as a part of what makes the project a success. Of course, this model presents quite the scarcity of substance and opportunity for growth, which means that the macro crypto trend can leverage the price of native tokens.
When Murasaki, the game studio building decentralized titles on the blockchain that I co-founded, announced its first project, I decided not to be one of those GameFi developers. I was going to put my face and my name out there, right next to Murasaki’s and Cyberstella’s, because I believe in the future of what we’re building, and I believe that anonymity almost always spells out signs of trouble.
Related: 90% of GameFi projects are ruining the industry’s reputation
By looking at the LinkedIn data, I was right.
People do care about finding out more about the identity of a founder or developer before they sign over their money. However, scammers have managed to successfully convince a portion of the GameFi community to act against their own best interest, contrary to how they would behave in almost every other scenario. And when they’re done scamming one community, they move on to the next — after all, no one knows who they are, so it’s easy for them to start over with a new audience. The cycle repeats itself over and over again, and the space’s reputation keeps getting worse because of it. It’s a true lose-lose situation for everyone involved, except the anonymous scammers.
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