Opinion: We need to move past the PvP era if we want mass token adoption

Written by Mel Gelderman

Posted on August 17th, 2023

Mel Gelderman thinks that “PvP” games are holding the token space back. He outlines what needs to change for mass token adoption.

In the gaming world, players often battle it out in competitive “PvP” scenarios. PvP video games can be fun, but I’ve recently noticed that the token market is becoming its own PvP environment. I think it’s holding us back—and I’ll explain why here. 

PvP games 🎮

When I talk about PvP in the token market, I’m referring to the way different token users compete to secure profits. The free nature of the market means anyone can buy and sell their assets at any time, but this has come at a cost. During this bear market, dubious projects and questionable ethics have come to the fore as traders try to bank returns. 

“Some projects are tarnishing the reputation of our entire industry.”

I don’t have a problem with people selling tokens for profits. But I question the value of some of the newer tokens in the market. I also think it’s problematic that so-called “influencers” can endorse illiquid tokens to their followers and secretly sell their holdings to make a quick buck. It’s become noticeable with some of the newer, trendy meme coins and gambling-related tokens this year. In some cases, these projects are tarnishing the reputation of our entire industry.

Investing with intent 🌱

I call this phase “the PvP era,” and I don’t think it’s sustainable for a healthy token economy. At token.com, we want to help people invest with intent in projects that matter to them. But certain segments of the market seem caught up in short-term PvP games. 

If we truly want tokenization to change the world, we need to move past the PvP era. Once we do, we’ll be in a better position to onboard the next generation of token adopters. 

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Please note: Investing in cryptoassets is risky. Due to the volatile nature of the cryptocurrency market, investors run the risk of losing their funds when they make an investment. Returns from cryptoasset investing are not guaranteed, therefore users should always be aware of the risks.