Will Elite (1337) Take Over Play to Earn Gaming?
Cryptocurrency has been increasingly popular over the past nearly decade and a half that it has existed. Gaming, of course, has been popular almost since its inception in the 1980s.
The two industries have a lot in common and it’s a natural fit for cryptocurrency projects to attempt to integrate into video games.
One project attempting to do exactly that is Elite. This article will cover everything you need to know about Elite including where to buy it, what the project does, and the investment viability of it.
What is Elite (1337)?
Elite is a blockchain project operating on its own blockchain. The stated goal of the project is to launch a cryptocurrency that allows video game players to use in-game currency from one game in another game.
This might sound like a simple undertaking, but it’s significantly harder than it sounds to implement a project like this. Video games use all kinds of different engines and databases, so coordinating a currency across multiple, independent video games would be extremely difficult.
Unfortunately, Elite does not have a team capable of making a massive project like this a success. We know this because the last tweet from the project’s official Twitter account was on December 5th, 2022.
Now, the Discord is not completely dead. There appears to be a handful of users posting in the Discord about a game that uses Elite coin (1337) as the in-game currency. However, we cannot find any easily accessible information about this game.
Anyway, the next section will cover all the issues we have with this project.
The Problems with Elite (L337)?
As mentioned in the last section, there are a lot of problems with Elite. The project is, in our opinion, one of those crypto projects that does not do much of anything. The point of this section is to explain how we reached this conclusion.
Where’s The Game?
The first issue we have with Elite is that we cannot find any of the play-to-earn games that use Elite on their website.
This is very unusual.
If you have a cryptocurrency that is almost exclusively used in a game, then you should make it easy for visitors to your website to find that game.
Elite does not do that.
There is one link that claims to take you to the game. However, that link is just an invite to the Discord server.
We want to play a game; not visit the Discord.
It’s ridiculous that the team cannot just make the game easily accessible on the website and instead make new players go through Discord to play the game.
Do they not want people to play the game?
The Project Started in 2018
Another problem we have with Elite is that this project launched in 2018.
For reference, Axie Infinity launched the same year and is the most popular blockchain game and a name that everyone in the cryptocurrency industry recognizes.
It has done practically nothing in almost 5 years of existence. The roadmap for 2019 has not even been completed and there wasn’t even a roadmap for 2020. 2021 still has some pending parts on it as well, but that’s to be expected.
To cut a long story short, if the team has not made this project work in over 4 years, then they probably are not going to make it work over the next 4 years.
The next problem with Elite is that it has anonymous founders and an entirely anonymous team.
That’s a massive red flag for a play to earn game.
All the most successful play to earn games have public founders that have years of experience in the gaming industry. The company behind the projects are almost always small game studios that made the jump to play to earn gaming.
Every one of these play to earn game projects with anonymous founders claims that the founders have years of experience in the gaming industry. If that were the case, then why aren’t they public?
The founders of Axie Infinity are public because developing a game like that is an accomplishment that looks great on a resume.
We can think of one reason the founders of a play to earn game would choose to remain anonymous.
It’s not a very good reason, either.
The Website is Horrible
The final problem we have with Elite is that its official website is horrible.
First of all, the design of the website is extremely ugly. The header is massive and takes up about 20% of the page. The design itself has nothing really good looking about it, either. It’s just black text on a white background.
It looks like something from 2006.
The other problem with the website is that it does not tell us much about the project. The about section is a few paragraphs long and there’s a tokenomics section.
But there’s no whitepaper.
Most importantly, there’s no link to any play to earn game that uses L337 anywhere on the website.
Now, a bad website might sound like a minor issue, but it’s not. A website is often the first thing that people interested in a project see.
If the website looks like it popped out of a time machine from 2006, then many users will simply click away. This is especially true in an industry as cutting edge and technologically advanced as cryptocurrency.
A construction company can get away with an ugly website; a cryptocurrency company cannot get away with it.
Is Elite (1337)?
No, we would not consider Elite (1337) a good investment at all. All the problems outlined above contributed to that assessment of the project.
To further this point, the coin has not done very well since 2018.
The trading volume has not exceeded $100 since 2018. The current 24 hour trading volume is $0.
The problem with a low trading volume like that is it’s impossible to sell the coin. Yes, the price of the coin could go up 5000%, but if no one is willing to buy it, then that 5000% increase in price is meaningless.
Is Elite a Scam?
More research is required to determine if Elite is a scam. And it’s not really worth the effort to research a project that has a $0 trading volume and a market cap of $270,000.
The project is definitely one that should be avoided at all costs. There are much better and more promising play to earn projects out there that actually make sense as investments.
To summarize, Elite is a very small play to earn gaming project that has done basically nothing since 2018. It’s a project with a lot of problems, no trading volume, and a very dim future.
There’s not many good things to say about the project and a lot of bad things to say about it. This project can be safely avoided.