Can Wall Street Games (WSG) make money from Blockchain Gaming?
I think Wall Street Games (WSG) shows everything wrong with blockchain gaming.
To explain, Wall Street Games calls itself a blockchain gaming platform. Yet I see no evidence, Wall Street Games supports a single game. Instead, the Wall Street Games Roadmap says they will release the first game in the First Quarter of 2022.
Strangely, Wall Street Games is offering Google Play and App Store apps and claims users can sign up and play now. Yet they do not say what games you can play on the app. I have to ask if the games are so great. Why don’t they describe them? For example, they mention a game they call Viper Rush but do not describe it.
Moreover, Wall Street Games has no connection to the stock market, investment banking or Wall Street. Instead, Wall Street Games appears to be an ordinary gaming website.
Yet, CoinMarketCap named Wall Street Games the ninth most trending cryptocurrency on 16 January 2022. In contrast, CoinMarketCap named Wall Street Games (WSG) the 1,063rd largest cryptocurrency on 17 January 2022. CoinMarketCap gave Wall Street Games a $10.136 million Market Capitalization and a $2.951 million 24-Hour Market Volume on 17 December 2022.
What is Wall Street Games?
Hence, we need to ask what is Wall Street Games (WSG) and why are people spending money on it?
Wall Street Games (WSG) contains a staking platform where users can stake WSG to Binance Smart Chain (BSC), the Polygon Network (MATIC), and Metis Andromeda (METIS) blockchain tokens.
Users can stake the tokens to Game Activation Pools, NFT Liquidity Pools, or NFT Staking Pools. There is also a Joystick Staking Program with no locks on deposits. Each Pool provides value and liquidity to a Wall Street Games nonfungible token (NFT).
How Wall Street Games could Make Money
Wall Street Games (WGT) will make money by selling game activation nonfungible tokens (NFTs). To explain, you will need a Game Activation NFT to play a Wall Street Game.
Users can buy a Game Activation NFT through the Wall Street Games app or platform for WGT or fiat currency. Players can also earn Game Activation NFTs by staking WSG/BNP LP (liquidity protocol) or WSG. When users stake, they can earn NFT cards from staking pools.
Users can earn more rewards by swapping NFT cards for keys. The keys unlock the Wall Street Games Treasure Chest which contain more rewards. However, they do not say what the rewards are. The idea behind the Treasure is to monetize gaming skills.
I think that means gambling. To explain, users earn rewards by playing games. This seems like gambling to me.
Wall Street Games Plans
Wall Street Games (WSG) began with a Beta Bug Hunting Reward Program, release of the Android and iOS mobile apps, the Treasury Release, and a Marketing Campaign in the first quarter of 2022.
They plan to launch Wall Street Games on other blockchains in the first quarter of 2022. They also plan to release a new game, launch the NFT Marketplace, and a Collectibles Album Launch in the first quarter of 2022.
Wall Street Games plans a second new game release, a WSG Event, Celebrity Marketing, and partnerships with leading blockchain gaming platforms in the second quarter of 2022. They don’t identify the games they plan to release or the celebrities who will market WSG.
What Value Does Wall Street Games Have?
Mr. Market ascribes some value to Wall Street Games (WSG). For example, CoinMarketCap gave Wall Street Games a $0.00000003251 Coin Price, an $10.136 million Market Cap, a $32.516 million Fully Diluted Market Cap, and a 24-Hour Market Volume of $2.947 million on 17 January 2022. They based those numbers on a Circulating Supply of 311.708 trillion WSG.
Comparatively, Coinbase gave Wall Street Games a $0.00000003 Coin Price, a $10.1 million Market Cap, and a $2.0 million 24-Hour Market Volume. They based those numbers on a Circulating Supply of 311.7 trillion WSG.
I think Wall Street Games has some theoretical value. However, I recommend speculators avoid WSG until they show they can make money from games.