I think the biggest issue is that most play to earn games (the popular ones) have kind of died. I think that player base of people who want to join is kind of limited as it is when there is upfront cost. I think havign a free spellbook might help onboard users, but even then, getting them to a point where they earn decently is rough. As it is right now, it just seems like the barrier to entry is too high.
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I agree to a degree. Giving out discounts for spellbooks or even free for a given schedule date would ease the onboarding process. Get more players involved to raise interest.