The game CryptoCars (CCAR), which gained fame in the P2E gaming market (play to win), turned out to be what many suspected – yet another possible blow to the cryptocurrency market.
The Brazilian community of the game gathered almost 30 thousand people on Telegram alone, so the project became famous among players in the country. His promises were very “promising”, despite the team’s lack of commitment.
According to information on how many wallets the token has, there are 136,000 investors. This shows that CCAR aroused a lot of attention from players who wanted to earn money with “one click”.
With the success of the CryptoCars brand, developers rushed to release new similar games – CryptoPlanes (CPAN) and CryptoGuards (CGAR). Furthermore, all games would be wrapped in a metaverse called CryptoCity, which is expected to be released soon.
Tokens and more tokens were sold on whitelists and IDOs of these games that run on the Binance Smart Chain network, but the dream came to an end.
Why is CryptoCars a possible scam in the market?
After many promises, the game began to melt in the market, with a gameplay that was not at all attractive to its players, being the famous click to win the game mode. The customer base was maintained only with the hope that the game would undergo an appreciation and be improved.
But in the last few days, several actions began to be carried out by the game’s developers that began to draw attention. One of them was the withdrawals of in-game coins before the 12 month deadline, which was promised would not occur, showing that the devs were withdrawing values.
Also, on the official website of CryptoCars and its sister games, the programmers’ photo and profile have been deleted, making it anything but transparent.
Moderators of groups then, who had the project’s CEO’s Telegram, started calling him to demand explanations, but he simply disappeared.
One of the members of the CryptoCars Brasil community recalled that the guideline was to ban those who speak ill of the project in groups (a common practice carried out by scammers and pyramid schemers), but this is not correct, as everyone must have explanations about the problems.
In addition to developer looting, CEO disappearance, CryptoCars Discord has been disabled with the excuse that it’s Chinese New Year.
In this way, the community holds a token in their hands for a game that is experiencing major reliability issues, while the developers have taken time off.
“Due to the Lunar New Year (which was announced from January 27th to February 7th), the discord will be closed. Thanks for everyone’s understanding and new updates will become after that”
A brutal drop in the price of the currency is another point that highlights the coup against the community
Another point that highlights the blow against the community and may even be related to sales by developers, is the 99% drop in the value of CryptoCars in the last 2 months.
In the last 30 days alone, CCAR has dropped 96% according to data from the Coingecko, with a devaluation of more than 20% in the last 24 hours alone.
The CryptoPlanes token has dropped 40% in the last 24 hours and has accumulated a 98% drop in 30 days. Finally, the CryptoGuards token has plummeted 34% in the last 24 hours and 99.6% in the last month.
All this indicates that even if the developers return from their vacation, it is unlikely that the community will trust the project again.
At least it will serve as a lesson to many.