(The above video shows the process of using GameCredits from inside of a third person shooter that recently integrated the cryptocurrency. This game is one of GameCredits first major integrations, with over 4 million registered players. By April over 300 games from over 150 developers will be accept GameCredits as a primary form of payment.)
The pace of technology adoption has increased in recent decades. Perhaps because new technologies build on previous ones, and the rate of innovation is exponential, it takes less and less time for new ideas and products to penetrate the market. Electricity took around 30 years to reach 10% adoption, and telephones 25 years. Tablet devices managed the same in less than five years. The picture is repeated across the board: more recent technological innovations are picked up faster.
Despite the fall in lag between first introduction and taking the plunge with your wallet, the delay is understandable – especially when it comes to cryptocurrency. A common story is of first hearing about bitcoin, thinking it was an interesting idea, but only taking the trouble to find out more some months down the line. Those who immediately saw the appeal of bitcoin and bought in (or mined in) are few and far between – but they were rewarded handsomely for their prescience and their willingness to take a risk. After all, bitcoin was a new technology and asset class, and there was no guarantee of success. A fault could have been uncovered in the protocol, rendering bitcoin completely worthless; early adopters were victims of more scams and hacks than those who discovered bitcoin later, after a degree of professionalism had been brought to the exchange sector (the recent Bitfinex hack notwithstanding).
After a stellar rise at the end of 2013, bitcoin went into a near two-year bear market, bringing cynicism and caution from the majority of the community. Optimism evaporated. Scams and pump-and-dump schemes proliferated as traders sought to make money in a falling market without cashing out of crypto altogether. Viable, credible new projects were few and far between, and of the many promises made, barely any came to anything.
That’s the legacy that remains, even as the next market and business cycle begins. Traders are still stuck in the same mentality: bank profits and get out, because nothing has real promise. Nothing will get you the incredible returns that bitcoin managed in its early days, when a small degree of patience could earn you 10x or 100x ROI.
Except that now the scene has changed again. Opportunity and sentiment don’t move in phase: it’s at the time of lowest market cap that the greatest opportunities lie. As Warren Buffett famously said, ‘be fearful when others are greedy and greedy when others are fearful’. The crypto community is slowly shaking off some of its residual cynicism, but the opportunities are there for those who are prepared to take a chance and invest early.
Gamecredits (GAME) is one such opportunity. With an established blockchain, backing from major players in the gaming industry, a significant headstart over the competition but still a low market cap, there is a very bright future ahead.
Bottom line: you should think twice about gamecredits. But don’t think for too long.
For legal reasons, this does not constitute investment advice. Even if it really should. Do your own due diligence.
If you're interested in GameCredits please feel free to join the official GameCredits slack and ask the team anything: http://gamecredits.com/slack.html