Angelic, developed by Metaverse Game Studios, faces several external threats that could hinder its success in the competitive Web3 gaming space. These threats include intense competition from other Web3 games, regulatory uncertainties, market volatility, and potential player fatigue with existing play-to-earn models. This report will examine how these threats could impact Angelic's market position, economic stability, and player retention, while also assessing the company's preparedness to mitigate these risks.

• Competition from established Web3 games poses a significant threat, as Angelic must differentiate itself in a crowded market to attract and retain players.
• Regulatory changes, particularly around tokenomics and NFTs, could disrupt Angelic's economic model and create compliance challenges.
• Cryptocurrency market volatility may affect player earnings and token value, potentially diminishing the game's play-to-earn appeal.
• Player fatigue with current play-to-earn models could limit Angelic's ability to attract and retain a dedicated player base.
• Network congestion or high transaction fees on Solana and Saga could deter players, particularly during peak usage periods.
• Security vulnerabilities, such as smart contract exploits, could undermine player trust and retention, especially if safeguards are not robust.
• Negative publicity around NFTs or environmental concerns could harm Angelic's reputation and deter players from traditional gaming communities.
• The entry of major traditional gaming companies into the Web3 space could further intensify competition and challenge Angelic's market share.
• The potential for a 'crypto winter' or prolonged bear market could strain Angelic's economy and reduce player earnings, impacting long-term sustainability.
• Shifts in player preferences towards different blockchain networks could also pose a threat, particularly if Angelic's chosen platforms fall out of favor.