Dishonest, underwhelming management and poor execution
Gaimin and its GMRX token seemed to have a lot of potential, but since the TGE 7 months ago the management have delivered broken promise after broken promise. Investors were told prior to TGE that GMRX buybacks would be a core part of the tokenomics, but after taking everyone's money, the management has since said that they have to hit certain thresholds of revenue and activity in order to start buybacks. This is after stating that they had a buyback fund already set aside, regardless of revenues. They have kept kicking this can down the road, and are increasingly vague and non-committal about if/when these fabled buybacks will start.
We were promised staking by end of Q3, and low and behold, that hasn't materialised either. Along with various other Q3 milestones that have been missed.
The management hid critical information from retail investors prior to TGE, as they witheld crucial information about the token vesting schedule back until after TGE. For many months prior to TGE, when asked about the vesdting schedule, we were told "it's coming soon". They released it a week after TGE and GMRX plummeted - because they are flooding the market with 50% of the fully diluted market cap of GMRX by mid-2025. There were many angry investors in their telegram channel, and their moderators continually gaslit the community by pretending that they had given investors all the relevant information before TGE.
Then, about 5-6 weeks ago, one of their senior directors, has now started belligerently suppressing any criticism of the company in the gaimin community Telegram channel, and kicking out any dissenters / critics of the management's delivery. Being a chat moderator in a Telegram channel for a company is a junior position. This should send alarm bells ringing to any would-be investor - when a gaiming company aimed largely at young people has a confrontational old guy aggressively arguing with young gamers in their own Telgram channel instead of taking a professional tone, something is not right within the company.
It has now been 7 months since TGE, and the company has not delivered any of the key features they were supposed to by now. E.g. staking, buybacks, the wallet, impactful marketing, and they have not even managed to get the basic licensing in place that many other Web3 projects get in place very quickly after TGE. Every AMA they hold for the community, they come up with more excuses, and try and distract from the lack of substantive progress by touting peripheral, minor achievements as major leaps forward.
I was concerned about some of the founders lack of expertise in Web3 (e.g. one of the founders made his money in a pet food company), but I went against my better judgement because they talk the good talk in their AMA updates. But they are full of empty promises, and the CEO's ego is apparently too fragile to even consider any blunders on his part.
I have now sold all of my GMRX.
Be extremely cautious investing in this company. I wouldn't go as far as to say this is a pyramid scheme or an outright scam, but the management are dangerously egotistical and, being charitable, their performance is underwhelming and inadequate to make this project a rocket over the next 12-24 months.
The management have their GMRX tokens locked up for ~3 years before they can start selling their allocation on exchanges, so they are not motivated enough to improve the price of GMRX over the next few years.
Given the management's incompetance, dishonesty, obnoxious communications and gaslighting, I've lost faith in them and am steering clear of the project.
21 February 2026
Unprompted review