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Current challenges in the segment
One of the main problems in the current market is the shift from action to promises. What do we mean? In 2018 - 2021, crypto projects had quite a hard time developing because of market conditions and having to prove to the community and users that they were worth investing in. Users and partners no longer believe the promises, which is a correct development.
This is where the problems of existing GameFi projects lie because initially, the focus is often on commerce, market forces, economics, and only lastly, on developed and curated content and simply quality. However, developers who get the point will not only survive but also achieve great success.
Other major mistakes of GameFi projects include the high inflation of game tokens and the lack of tools that can combat it, the lack of a negative mathematical expectation, and the fact that the game does not evolve, primarily for the benefit of users.
Cosmic FOMO is designed to address the above issues.
When the focus of many has shifted from actually working products to the promise of creating something in the long run, the Cosmic FOMO team has instead implemented the following steps, even before releasing the product:
- Successfully launched and ran a Whitelist for the MDAO community.
- Sold over 2,500 Genesis NFTs for the game.
- The product already has over 1,500 users who have NFTs.
- Launched the website and technically ready Cosmic FOMO app for iOS and Android.
- Binance Smart Chain (BSC) is integrated into the app.
- Over 20,000 users on social media.
- The app is ready for alpha testing in Q1 2023.
- Marketing and partnership agreements with GT4, Mercedes AMG, WeWay, TRUE ECOSYSTEM, Mad Backpacks, Bot Planet, RedPad Games, DexSport, Unlockd.finance, EYWA, artists, and other partners.
As a result, the Cosmic FOMO team was able to prove its competence even in a bear market.
*Disclaimer: The data presented herein is strictly for informational purposes, does not constitute financial advice, and is subject to change at any time at the discretion of the development team.