It’s an exciting time to be in the NFT space, especially if you have a concurrent interest in the potential of web3 gaming. However, as is inevitable in any newly developing technological sphere, not every game or project is as trustworthy as it should be. How do you evaluate the readiness and trustworthiness of the NFT collections you’d like to invest in? With the high-quality Book of Gates NFT project as an example, we walk you through some benchmarks and metrics everyone should know.
The Challenges of Decentralized Identities
There’s been a growing focus on data control and our power to shape our own identities in the last few years. While the NFT and blockchain spaces hold great power to help people take back control of their own online identities, it also raises some key challenges we need to meet. After all, many of the very best NFT projects out there are being built by individuals using pseudonyms, in an understandable- but also risky- wish to keep their real-world identity private.
While this aspect of the wider NFT space can be liberating, as it means anyone with the vision and ability to deliver value to the community can participate regardless of their origin or background, it of course carries its own risks. How can you tell if a de-fi project that has caught your eye is trustworthy and dependable, or just a money-grabbing flash in the pan?
With NFTs and digital assets holding immense potential to be harnessed towards qualifications, licenses, and more, it’s a question that’s only going to become more important.
Evaluating NFT Trustworthiness with the Book of Gates
There’s no secret that the best point to buy an NFT is when it has its whitelist open and is about to mint. Dally too long, and you stand a very real chance of being immediately priced out of the market. Yet it can feel immensely risky entering an unknown project that doesn’t have its reputation built yet.
Fortunately, there’s a lot you can do to evaluate your potential new acquisition. Transparency and a clear roadmap are two critical benchmarks. Fire up the Book of Gates Upcoming NFT Trading Card Game, for example, and you can immediately see what’s promised, what’s planned, and how to enter at any point of the cycle. Here you have an open and transparent collection, with much of the (already much acclaimed) NFT art already clearly on display to show you what to anticipate from your own piece.
You also have a solid roadmap, moving clearly through the evolution points of the collection, with tangible ideas of what each stage will feature and the additional functionality it brings to the table. You can see clearly what it takes to play (2 collection pieces, one character, one artifact) and explore the wider plot and story. Based on the Alexander Black graphic novel of the same name, you have a thriving and evocative landscape and a clear gaming system laid out ready for you to enjoy. Additionally, engagement is real and tangible, with a thriving Twitter and active Discord to ask questions and share your excitement.
When a project can present solid credentials, a clear evolution path, and an active community, you have a connection to the developers and a safer path for your own investment. Be certain to watch out for features like these as you evaluate each potential addition to your collection, instead of merely giving in to hype, and a safer, more trustworthy acquisitions process will be yours.
