Illuvium’s collapsing token represents the problems with GameFi By Cointelegraph

Blockchain games began as a means to effectively test technology’s true potential. However, making sure they reach that potential remains a challenge. While Illuvium was one of the most highly anticipated crypto game releases in history, the price of its ILV token has fallen significantly since 2021 — to the tune of 97%.

The project’s developers have not released anything substantial for quite some time. The immersive gameplay and impressive graphics are not enough to stop the game’s token from plummeting. The same can be said of most GameFi tokens.

Players weren’t impressed by Pixelmon’s $70 million valuation. Source: Twitter

Takuya Tsuji is the founder of Eureka Entertainment Ltd, a gaming company set to release an upcoming blockchain game, Coin Musme. He previously founded Techcross Inc, a company he established in 2009 as a student at the University of Tokyo and grew to $70 million in annual sales. He also worked as a top developer on DMM Games, a gaming platform in Japan, and has been involved in the development of more than 50 game titles.

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