Cracking the Code: Is $GFOX the Investment You've Been Hunting for?
Good day Cryptoniacs! Today I would like to dive headfirst in a new crypto project that I found on a third party article on Crypto.news, I was amazed by the fact that with all the good projects out there they focus mostly on "shitcoins". Anyways let' s not indulge anymore and start our deep dive in the crypto ocean. Bytheway I leave here the link to the post I am referring to: https://bitcoinethereumnews.com/tech/top-3-affordable-cryptos-to-consider-in-december/
$GFOX
The first crypto project mentioned in the article and the one I am going to focus on today is called Galaxy Fox, a new project, they issued their token on Ethereum, and right now they're still in the presale phase.
I have been reading their whitepaper to understand better what kind of project is. I leave you here their official youtube video if you are curious too.
Road map
Their roadmap is made of 6 points, which are:
1. Whitepaper creation / Token audit / Website live / Presale live
2. Influencer campaign / Marketing teaser / Competition prizes and giveaways
3. Bigger media push / Treasury setup / Uniswap launch
4. Game teaser / Bridge more chains
5. Launch of merch / Beta game testing / Introducing new characters
6. Further partnerships announced / Launch of game
Whitepaper
There are many directions in which this project is pointing, for example they created already their own merchandise to start. Other features mentioned in the wp are:
-Play to earn feature, -NFT feature and NFT marketplace, -Staking pool, -Token burn.
So, the "play to earn" feature since the game launching is the last point of the roadmap is not going to be seen soon IMO.
NFT feature is simply the minting of NFTs in the game through completion of missions or tasks, again, until we don't see the game, we don't see the "feature", NFT marketplace is simply a marketplace where you can buy the NFTs that you prefer, nothing so special.
Staking pool, this feature is going to make token holders able to stake their GFOX tokens in order to gain a yield or simpler said an interest.
Token burn, this feature is a deflationary mechanism made to help increase or anyways decrease less the price of the currency, the best feature they have IMO.
Founders
This is the part which I found most concerning about this project and here is why:
Founders of this token are Leonardo, Marko, Ellen, Otto and Sergio.
No, they are not the new ninja turtles, but who knows who are they?
Feel free to drop me a message if you've got the inside scoop! XD
Tokenomics
Of course they had to be special so they called their tokenomics, astronomics. Funny isn' t it?
Their maximum token supply is 5 billion of which 3.5 billion are going to be sold to retail investors, 500 million are going to the liquidity pool, 500 million to the Ecosystem, 250 million are going to the team and the same amount is also used for competition and prizes.
My opinion
Very speculative and high risk.
In my view, this token might, and I emphasize 'might,' offer potential as a speculative short-term investment. However, determining its validity hinges upon the game's release. I remain skeptical about this project's ability to revolutionize the crypto space. Numerous analogous projects seem more inclined towards the play-to-earn model, which, after the initial buzz, merged into a crowded field. Similarly, projects concentrated solely on the meme aspect of their token have followed a similar trajectory. In summary, while this meme/play-to-earn token could yield favorable returns, it would heavily depend on achieving substantial hype and widespread adoption—a challenging prospect, to say the least. Useless to say this would be a HIGH RISK INVESTMENT and I personally wouldn't buy it.
So Cryptoniacs, I would say that for today we are done. If you like what you read here, please, don't forget to give a follow to my IG and X page @cryptoniacsblog where I post mostly memes and market updates. Remember that I am no financial advisor and DYOR before buying anything.
Until we meet again, stay true, stay cryptoniac!
