The Risks of Playing My DeFi Pet
There are many risks to playing play-to-earn games. The holding, acquiring and using of DPET Tokens associates with many risks. Also, this could lead to the partial, or total loss of the DPET Token held.
This varies on different geographical locations, and governments.
My DeFi Pet manifests the following risks while utilizing their platform.
Regulations and Enforcement
Digital assets have become the major target of regulation in major countries. The DPET Token and its distributed ledger technology are unclear and unsettled in many territories and jurisdictions.
If existing laws are applied, it might negatively affect the whole organization. The company, may cease operations in a jurisdiction where regulatory actions make it illegal to operate.
Ambiguous Disclosure of Information
My DeFi Pet is still under development. There are still changes in the codes and technical details of the game itself. And, changes remain constant since the game is still incomplete.
Also, the Team has no obligation to keep the participants, gamers, and holders informed of every detail regarding the project. Therefore, insufficient disclosure of the information is inevitable and reasonable.
Many decentralized applications and networks emerge at a fast and rapid rate. These applications are genuinely competitive in most cases. Some of them may utilize the DPET ecosystem or attempt to recreate similar games. In this case, the game, My DeFi pet needs to compete against these alternative networks and applications.
This scenario may negatively impact the gaming environment of the “My DeFi Pet” and its in-game cryptocurrency, DPET Token.
Lack of Engineers
The application mainly depends on Engineers. If no team and expert consultants remain, then, it will surely affect the future of the network. Knowledgeable computer engineers, major in systems and game development are the main key to keep this company moving.
Also, if the team experienced a loss of team members, there will be a big drawback. The team makes sure of having good company relations to avoid conflicts and maintain the harmony of the team.
The DeFi Team remains susceptible to online attacks by hackers and other malicious organizations.
Online attacks include, but are not limited to malware attacks, denial of service, consensus-based attacks, smurfing, and spoofing.
Laso, third-party affiliates may also intentionally, or unintentionally vulnerabilities into the core infrastructure of the DPET Token and/or My DeFi Pet. Then, it can negatively impact the whole system of the team. Also, future alterations of cryptography and security innovations are highly unpredictable.
There is no flawless system. Everything is susceptible to any kind of failure. This may come from other entities and malicious organizations, or from the team itself.
Invest the amount you are willing to lose. And, do your own research.
Risks of Playing My DeFi Pet