Recently, I've been listening to that economic model of blockchain games, and it really sounds like the static from an old radio: a few days ago, it was still playing "daily active user takeoff," and now all I hear is the constant sound of nonstop trading (buying and selling). Basically, the pool relies on new people coming in to foot the bill; once inflation can't be contained, rewards become increasingly thin, everyone rushes to sell, and as the coin price drops, studios start to step on the gas collectively, producing even more aggressively, creating a spiral that just keeps rising. The funniest part is that project teams still love to hang "sustainable" on their lips, but when the gameplay isn't attractive, no matter how refined the economy is, it can't save the project. Anyway, whenever I see high returns now, I just treat it as an ad on the radio—keep my position small and listen for the sound.

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