Players can also get the following special statuses, which will offer more benefits, based on their wallet balances:
- Fish: Requires 1 million SMI tokens.
- Dolphin: Requires 100 million SMI tokens.
- Whale: Requires 1 billion SMI tokens.
These may seem like large amounts, but keep in mind that the price of SafeMoon Inu is only a very small fraction of a penny.
Partnerships
SafeMoon Inu signed a partnership agreement with Enjin in October 2021. Enjin is a company that offers blockchain gaming products, with the most famous being Enjin Network, a social gaming platform.
The agreement makes SMI Play's first game, Moonshot Voyage, a member of the Enjin Adopter Program. The game will use Enjin's zero-fee JumpNet blockchain for minting NFTs and allow players to melt NFT items in return for the Enjin Coin (ENJ +2.36%) backing those items.
Can I make passive income with SafeMoon Inu?
You make passive income automatically when you own SafeMoon Inu. Whenever a transaction takes place, you'll receive your portion of the 2% transaction fee for being an SMI holder.
Although this is one of the selling points of SafeMoon Inu, remember that the passive income is paid in SMI tokens, a volatile cryptocurrency of dubious value. If you buy SafeMoon Inu and the price drops, you'll most likely still lose money even after factoring in that passive income.
Unique risks
SafeMoon Inu doesn't give the impression of a serious or professional project. It starts with the name, which was clearly a way to get attention by copying elements of SafeMoon, Shiba Inu, and Dogecoin (DOGE +2.78%), all of which were popular at the time. This has caused some issues for SafeMoon Inu. Its original Twitter account was suspended, likely due to the name being too similar to SafeMoon's name.
It's not like there's any connection between SafeMoon Inu and any of those other cryptocurrencies, so this was purely a marketing strategy. Even SafeMoon Inu's website and several of its social media accounts include a disclaimer that it's not affiliated with SafeMoon at all.
The SafeMoon Inu white paper is also full of red flags. It doesn't mention any use cases for the token or reasons to buy it, instead opting for vague fluff. Here are a few examples:
- It states, "SafeMoon Inu is basically fixing what other projects are missing." There's no explanation of what other projects are missing or how SafeMoon Inu fixes that.
- It claims, "SafeMoon Inu deserves as much visibility as possible." It doesn't give a reason why, but the writer did make sure to include the donation address for the "Community Marketing Wallet."
- It repeats much of the same text in the introduction and tokenomics sections. This isn't by any means a long white paper, so the fact that there was so little to say isn't a good sign.
Is SafeMoon Inu a good investment?
SafeMoon Inu is a terrible investment. It's another of the thousands of crypto tokens with no real purpose or reason for existence.
The supposed benefit of SafeMoon Inu is that holders earn rewards from the 2% transaction fee. This is a common system that doesn't hold up under scrutiny. If the only thing a cryptocurrency has going for it is a not-excessive transaction fee, what's the point of buying it? Quality cryptocurrency investments have real-world utility and aren't just designed to funnel money to their holders.
Fans of SafeMoon Inu will likely point to its upcoming gaming metaverse as the thing that will drive its value to the moon. Although this is theoretically possible, the reality is that many projects are trying to do the exact same thing because crypto gaming is extremely popular.
So far, SafeMoon Inu's gaming platform has one game that didn't make its estimated launch date. It doesn't look like anything that's going to revolutionize the gaming world, but you can check out the tech demo if you want to see for yourself.
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