Introduction
I was looking for new people to follow on Hive because it is fun to discover new content. In the process, I found something that picked up my curiosity.
Out of nowhere, a new token where they intend to invest in GameFi games on the Hive blockchain. I am a huge fan of gaming and I play 3 active games on Hive.
Those are:
- Terracore
- Golem Overlord
- Rising Star
Hive Drip token
Now they are selling the Drip token to the users of the network with an interface like Hive-Engine. My recommendation is to be careful with a new project like that where we don't know any of the founders.
You don't need a token to get exposed to any games of the Hive blockchain. You just need to play those games yourself, then you receive easily the tokens by just playing a game like Terracore or Golem Overlord.
The idea is good on paper, and I give it a test purpose to see if I receive something from the smart contract. They have a selling pitch if you stake the Drip token. Automatically, you are eligible to receive liquid Drip tokens daily.
So far I have 0.87 Drip, and 24 hours later I have not yet received anything...Maybe I need to wait a bit longer...
The project supposedly set the APY to 150% but I take this information with a grain of salt.
Game portfolio investment tracking
On their website https://hivedrip.com/ they list the following games:
- Serfdom & Sorcery
- Splinterlands
- Genesis League Goals
- Rising Star
- Golem Overlord
- MuTerra
- Woo – Wrestling Organization Online
- Terracore
- Exode
My concern is you cannot see the amount they have invested in those games with a live tracker. Is with the money people invest in the token that it will increase their position on those games.
Be careful when you invest even in Hive
The account of Drip has only a reputation of 53, so is something that is not very old. Secondly, you don't know who is behind the project with a face or someone here for many years.
They promise liquid Drip when you stake the token, but so far in my case, I have received nothing in the last 24 hours. You need to ask yourself, do you need another token to build another stream of income here?
You can simply play a cool game like Terracore and mine the token yourself.
Conclusion
I don't have a personal opinion since I discovered this newcomer on this blockchain. It might be a good idea on paper. It is like an ETF of gaming tokens packaged under the Drip token.
Easy to understand but a lot of question marks while looking at their website. The supply of tokens on Hive-Engine! The way the project develops!
I risked a few pennies to see if the smart contract was working as intended. So I need to receive something but nothing has shown up yet on my account...
You can explore and investigate yourself if it is something you might consider. Please be careful with a project like this.
Hivedrip website link: https://hivedrip.com/
PS: I am not a financial planner and always do your due diligence before investing.
Have a blossom and beautiful day.
Grateful,
@Chesatochi