External threats pose significant challenges to Nyan Heroes' sustainability and growth in the competitive Web3 gaming space. The company's ability to mitigate these risks will be crucial for its long-term success.

• Competition from established and emerging Web3 games could erode Nyan Heroes' market share, necessitating continuous innovation to maintain its edge.
• Regulatory changes, particularly in regions with restrictive crypto policies, could impact Nyan Heroes' play-to-earn mechanics and tokenomics model.
• Cryptocurrency market volatility may undermine player earnings potential, affecting engagement and retention in the game's economy.
• Network congestion or high transaction fees on Solana could deter players, especially if competing games offer more efficient blockchain solutions.
• Player fatigue with play-to-earn models across Web3 games could reduce interest in Nyan Heroes' economic system.
• Security vulnerabilities, such as smart contract exploits, could damage player trust and retention, outweighing the game's technical advancements.