What is GAMETREE (GTCOIN)? Is It a Legit Project?
Blockchain gaming has become a huge industry with many gaming projects appearing all over different blockchains. Most have failed while some, like Axie Infinity, have been wildly successful. This article will cover one blockchain gaming project called GAMETREE, which has not been as successful as many other blockchain game projects.
What is GAMETREE?
GAMETREE is a blockchain game project on the Ethereum blockchain. As a note, this project is based in Korea and while it does have an English language website and whitepaper, it does not receive much attention in the English speaking blockchain community.
Anyway, the developers state in the whitepaper that they want to create a “blockchain-based meta-NFT platform that allows small and medium game developers to gain competitiveness in the global market.”
It's a buzzword salad, but the basic premise is that they are turning an already successful FPS shooter, Black Squad Classic, into an NFT game.
Developers can launch their own games on the GAMETREE platform, which won’t be developed until 2023.
In that sense, you should think of GAMETREE as a sort of play to earn game launchpad. However, as it stands, the project is simply to turn a 2015 game into an NFT game.
It appears that the developers behind GAMETREE have earned some awards in the gaming industry and they claim that Black Squad Classic has been used by the South Korean military for training purposes. However, the awards are only listed in Korean with no English translation, so this cannot be verified.
Who Founded GAMETREE?
S.K Youn is the founder and CEO of GAMETREE. Youn previously served as the CEO of NS Studio and Neowiz Games. NS Studio makes VR shooters and Neowiz Games makes all kinds of different games. Neowiz has released some successful titles – it’s a legitimate game studio.
We really like GAMETREE was founded by someone that has game studio CEO experience. It’s much better than some of these projects that have anonymous and/or inexperienced founders.
That said, we do have some issues with this project that we will highlight in the next section.
Our Issues With GAMETREE
We have some issues with GAMETREE. It’s important to note, however, that this is a legitimate project, so a lot of issues that we otherwise have with project (anonymous founders, inexperienced team, etc.) don’t apply to GAMETREE.
Are Early Investors Dumping GTCOIN?
The first issue we have is that there has recently been a massive sell off of GTCOIN tokens. We are not entirely sure what caused this. Does it have to do with the bungled release of Black Squad Classic? Are early investors selling off their tokens?
We really are not sure what is causing this, but it is concerning to see a token have such a dramatic drop.
The Project has a Large Scope
Another issue we have with GAMETREE is the large scope of the project. The project aims to create an entire NFT game launchpad, but it appears they are having struggles even releasing an NFT game.
Does the team really have the capability to launch an entire launchpad when they have struggles like this?
This also isn’t a good sign. In this case we can sort of excuse it since the team may have over promised and will likely work out any issues in the future.
GameTree is a Gamer Social Network
Another issue we have with GAMETREE is that a gamer social network called GameTree already exists. This makes it difficult to find information on GAMETREE because the Google search results are filled with results from the social network rather than the cryptocurrency.
This isn’t a super critical problem, but it does make finding the project difficult as all the information is buried under information about the social network.
It’s a massive branding mistake.
Is GAMETREE a Good Investment?
It remains to be seen if GAMETREE is a good investment. The price of the token has plummeted in recent days, so our recommendation is to wait out. Can the team recover from the price dip or will the token stay stuck in this rut before slowly dying?
If you have faith in the team and their vision, then now is certainly the time to buy because the price is so low.
To summarize, GAMETREE is a project that lacks direction. Are they an NFT game project or are they trying to turn into a launchpad?
They can’t really do both at this stage, so they must pick one and excel at it. We are very ambivalent about GAMETREE’s future until they can figure out their project’s identity.