The recent drama between Khoa Pug and Johnny Dang has become one of the hottest topics online. The story is pretty complicated, with each side accusing the other of flipping on deals, scamming, and breaking trust. But it all seems to have started when Johnny Dang launched his own crypto coin called DBZ. Through their conflict, many people are starting to see the hidden dangers behind the booming crypto market and NFT games right now.
Many crypto coins and NFT game projects try to pump prices and “herd” investors
Khoa Pug has said multiple times he never intended to “herd” investors for Johnny Dang. Still, the fact that he initially agreed to make a promotional video for the coin definitely drew a lot of attention. Later, Johnny Dang even shared private chat messages between three people, including plans to pump the jeweler’s coin to a certain price point. Of course, that was just the plan. How exactly they tried to pump it is something we won’t get into here.
It’s not just crypto coins. Many NFT game projects lately have also been caught inflating prices. Basically, these projects paint a bright future, then use their own tricks to pump the game’s crypto token way above its real value. This easily creates a fear of missing out (FOMO) among investors and gamers. In the end, the ones who lose out are usually the gamers.
The NFT game boom comes with serious risks
There’s no denying that NFT games have become a popular new trend. But this boom also brings many hidden dangers.
The most obvious issue is that more and more NFT game projects keep popping up, but their quality is often questionable. Some are created just to pump prices and benefit the developers through the tricks mentioned earlier. Remember, gamers’ profits from NFT games mainly come from the value of the crypto tokens they earn. And those token values depend heavily on the developers’ actions. So in this game, most gamers are at a disadvantage and have little control.
