GameFi has become a risky space
Risks are everywhere mate, although maybe gamefi's risk have amplified. I'm mostly referring to those old gamefi projects which trend is no more, as there are also new gamefi projects now that are still in trend and maybe we still can earn on them for the short term. Some are only riding the hype with no solid fundamentals, so they are still covered to the amplified risk that I said earlier.
Even with some initial buzz, it's hard to trust a project in GameFi without seeing long term stability and real value. It might be better to stay cautious and wait for more solid proof before getting involved.
The problem if we wait, we can also miss a lot if in case the project did run really well for a long time. Oh well, this is what they say that high risk is always equals to high reward. There might still be some gamefi projects out there that are not new anymore. We can also go for them if we want a lesser risk but still have a potential of earning a few profits.