Promises, Promises...
Hive — or rather, Hive-Engine — is home to a number of different "investment tokens," many of which promise various dividends and rates of return.
But how well - and for how long - do they actually keep their promises?
Do these promises of "pays dividends daily/weekly/monthly" actually hold up under scrutiny?
I'm not really interested in singling out any particular asset/token, but I have to admit that most of these fall victim to the same "It seemed like a great IDEA, but it was much harder to EXECUTE than we'd ever thought!" thinking pattern.
I'll kick in the footnote that I am excluding the outright rugpull/scams from the equation, here... just referring to those with sincere intentions.
Starting pretty much anything in a pervasive down market/economy is extremely challenging. And that doesn't matter whether you're hawking a crypto token or a new kind of shoe.
I remember in the "early days" of Hive, Layer 2 tokens were often pitched as a way to tokenize (monetize) a community or a particular "influencer's" personal brand. While that might sound marvelous — on paper — it usually ends up being an invitation to discover that far fewer people actually care about you/your community than you could ever have imagined!
Typically, it's relatively easy to sell hype, but very difficult to follow through on those promises.
But mostly, those with creative ideas have a tough row to hoe. After all, getting attention is all about who can shout the loudest with the most promises... which is why more people gravitate towards get rich quick than get rich slowly.
Treacherous falls...
Stated a little differently, it's much easier to pitch a "magic pill" that will take off all that excess weight, than to pitch a rigorous regimen of diet and exercise for the next 12 months. People invariably want to push the "Easy Button."
And here in the Cryptosphere, we've been trained to "expect" our opportunities to be able to magically "go 3x in a month" rather than gradually appreciate over time.
And so, promises are made that are perhaps only keep-able in the most perfect of conditions, but not when you're actually operating in an environment where 80% of the time we're in a long slow slide into oblivion, and only 20% of the time we're rocketing to the Moon, in the most ridiculous way.
For now, I'm just going to take my few drips and drabs and cautiously put them in something that hopefully will live up to their lesser promises of getting rich slowly.
Feel free to leave a comment — this IS "social" media, after all!
As always, a 10% @commentrewarder bonus is active on this post!
I have found that a far better tell then hype is looking at activity. How long has the project already exsisted, how much have people in the project already invested and do they have a realistic approach. And the last thing is the goal feasible long term.
This is where I think a project like Actifit is doing great things. The payouts are either in their coin, delegation rewards or upvotes for posting related content. There's also the important question with a coin of "okay but whats stopping people from just selling it all and being a drag on the project?" Which again in the case of actifit there's a lot of reasons to either spend, stake or burn the token.
But I'm sure it took Actifit a long time to get where they are now.
I'm also always hopefull that's why I tend to try out new projects if they look cool. Like Dungeon cities is run by a really active dev, is active in the community and keeps coming up with ways to keep things interesting while also keeping it appealing to new players. I def think that if he can keep his energy up the game is gonna be awesome. But so much rides on so few people for the games success.
First things first: @topcomment, I feel the above is quite worthy, what do you think?
I agree. It's pretty much following the old "don't TELL me, SHOW me" principle.
Of course, part of the problem in crypto on the whole is the fact that so many people are in it for short term gains rather than long term appreciation.
Whether that particular issue will ever be overcome only time will tell.
You're right about Actifit, they do seem to have a working formula going, however long that might have taken. I never got much into it, myself, but the whole organization seems fairly solid, perhaps because so much of the gamification centers around your actual activity, rather than what you're getting paid for it.
I'm actually not familiar with Dungeon Cities, I'll have to check it out.
As for play-to-earn games in general, I think they largely stand and fall on whether the game is more interesting than the earnings and thus can stand alone, or the entire focus is on the earnings, with the game more or less being an afterthought that nobody would care about unless they were getting paid.
=^..^=
Aww thank you for the topcomment curation!
I have no idea how to encourge long term thinking when short term thinking is the default to most profit driven people these days. Long term thinking takes beliving in something long term and that's hard when well....(waves at constant falling of crypto values)
You point about games is 100% spot on. That's why I like splinterlands so much. The game is legit fun, and despite constantly earning sps I rarely if ever take it out of the games eco system. When I was on the WAXP chain more I saw a lot of clicker games where it's literally just hit this one button every X amount of time. And they're lame.
Dungeon cities is a relatively new game, if you do start playing use my ref https://play.dungeoncities.com/login?ref=artofkylin
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A lot of project that used L2 Hive-Engine tokens dissapered. Some bought a lot of those tokens using hive, but in the even it's safer to focus on the L1...
Perhaps so. I think a lot of them discovered that it may be easy to simply "create a token," but it's very difficult to actually make something of it.
=^..^=
to make it sustainable paying more than what you can earn with curation is almost impossible
Update: @curatorcat.pal, I paid out 1.913 HIVE and 0.000 HBD to reward 3 comments in this discussion thread.