List of Red Flags of Monmonland NFT Game
Recently, BitPinas made an analysis of the red flags of the self-proclaimed play-to-earn game, Legends of Constellations.
The game is currently in a hot tub after the developers abandoned the project after players deposited 45 USDT first to be able to withdraw their in-game tokens, but no withdrawal happened.
Apparently, another self-proclaimed “play-to-earn” game is generating hype in the Pinoy community.
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Monmonland: An Overview
Monmonland (MML) claims to be a “revolutionary idle game that cleverly integrates both cryptocurrency and traditional currency” into its gameplay.
Basically, there are in-game characters called Money Monsters (monmons) that do either mining, fishing, farming, smiting, hunting, crafting, or woodcutting.
“You can accumulate earnings by immersing yourself in these engaging gaming experiences, making every interaction within Monmonland valuable,” the website read.
The game also allows autopilot, meaning players can be AFK, and yet, their character can still do the in-game objectives and earn in-game currencies.
There are two in-game currencies in the game, Monster Coins, which are for rewards, and Monster Gems, which can be earned through referrals. Both of these can be “turned into real money.”
“Grinding is one of the main concepts in Monmonland. With seven different monmon working in several maps, you can grind as much as you can as long as you unlock every map. Grinding within the Monmonland can let you earn activity points which you can also turn into Monster Coin,” the developers marketed.
However, MML has a subscription-based system for players to access certain maps; the minimum subscription fee is $20.
The Red Flags of Monmonland
RED FLAG 1: You need to subscribe by paying a minimum of $20
The game requires players to “subscribe” by paying atleast $20 to be able to withdraw the in-game currencies they earned. Normal blockchain games do not require fees, but NFTs as characters and items.
Take note also that the recently rug-pulled game, Legend of Constellations, also collected fees for players to be able to withdraw their funds.
UPDATE: As of November 2: Users are complaining that their farmed tokens are gone. Other users mentioned that only those who subscribe (meaning those who paid) will retain the tokens:
RED FLAG 2: Monmonland has a Unilevel system like that in Multi-Level Marketing (MLM)
The FAQ section of the website only focuses on highlighting that the game “provides the opportunity to simultaneously earn enticing rewards” to the players. It also has an MLM model for inviting players. Players receive commission from their invites. Where is the money coming from that get paid to old players?
For computation, the game offers (at the time this article is written) 20 MC per hour, that is 480 MC tokens per day per player. The maximum supply of the token is 845,119,215.
RED FLAG 3: Withdrawal is via Binance Pay under a person’s (not an entity’s) name “Boss Monmon”
On the other hand, there seems to be an irregularity in the game’s withdrawal process. The process is this: the player requests to withdraw their funds, send their Binance ID to the team, and the team will send the fund to the user’s Binance account via Binance Pay.
Blockchain games have their own crypto wallets integrated. In MML, there seems to be no crypto wallet integrated into the game, the developers also seem to convert the MC tokens to USDT manually.
Binance Pay is also a platform where a person sends the payment to the other payment in crypto. This explains that the dev team’s Binance wallet, named Boss Monmon, only sends the USDT tokens as cashout payments to the player’s Binance wallet. A clear explanation is that the game has no crypto wallet integrated into it, and the funds of the players are held by the dev team’s wallet.
Monmonland is also instructing users to create Binance account where Boss Monmon can send the payout.
Red Flag 4: The website is tagged suspicious by independent website and scam detector checkers
Lastly, the game’s website is also checked by independent website checkers Even Insight and Scam Detector.
Even Insight tagged MML as a suspicious website. Because though the website has a valid SSL certificate and provides a secure connection, it blocks important web crawlers and bots.
“Monmonland.games got a below-average Safety Score, suggesting potential risks. Being alert is advised when dealing with Monmonland.games as it may pose security concerns. We’re not totally convinced that this website is entirely reliable. Keep caution before using any kind of product or service offered by Monmonland.games,” Even Insights explained.
Meanwhile, Scam Detector tagged MML as a controversial, risky website with red flags. It also gave a trust rating of 39.2% out of 100%, because the website is allegedly exposed to threat profile, phishing profile, malware, and spam.
“This website is poorly designed and doesn’t contain elements in the metadata that could help its online presence. As a result, it loses credibility and shows that its quality is questionable momentarily. As soon as they improve their back-end, we will update this information,” Scam Detector explained.
This article is published on BitPinas: Monmonland NFT Game List of Red Flags
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