Blockchain game disappears after selling $1 million in NFTs

Stop me if you’ve heard this before: an NFT project sells a lot of tokens and makes a lot of money for something like that probably there will be in the future. Then the project and those involved disappear with the moneyLeave those who bought it screwed. Well, it has reportedly happened again, this time with Blockverse, an NFT project that is (unofficially) affiliated with Minecraft.

ONEs reported by PC gamer, block verse was launched last week and is said to be an “on-chain Ethereum NFT enabling a unique P2E on Minecraft‘, which basically amounts to a private Minecraft Server that is only accessible to people with one block verse NFT. Although selling access to servers is something that has been done for years without NFTs, there was still a lot of “hype” surrounding the project. And on January 23, Blockverse launched and sold around 10,000 NFTs—Sell ​​out in less than 10 minutes while earning estimated $1.2 million. Howevera few days after they allegedly made all the money, the creators behind the project put it out block verse

As you might expect, this led to many people calling the whole thing a scam and demanding answers. After a few days of silence from the creators and while community members tracked down information about the project leaders, block verse took to Twitter and updated on the situationwith the developers sharing an explanation and an apology.

“Hey everyone. We feel we owe everyone an apology and, most importantly, an explanation. block verse should be a great project as we invested a tremendous amount of time and resources working on it prior to our launch. Everything was perfectly legitimate: our contract was confirmed, the game infrastructure was fully set up and our launch went well, albeit with some small bumps along the way.

After launch, we jumped straight to work to continue development of Phase 2, a future expansion of Blockverse. Amid our continued development, we failed to recognize and contain all of the FUD that was going on due to a variety of issues including but not limited to: high gas fees, MC servers not being able to record all at once, and the Lack of usefulness of $DIAMONDS. Eventually things got out of control.”

the block verse The team then explained that as anger grew in the community and people started asking more questions, the team panicked — things about when issues with the server would be fixed, why the fees were so high, etc. As the As the reported “harassment, threats and doxing” continued, it was decided that the best course of action was to delete everything and just leave with over a million dollars for the night.

“Unfortunately, there hasn’t been a chance to reopen yet as the situation appears to have only gotten worse,” Blockchain’s team explained in their long, rambling statement. “While we have already delivered on everything we have promised, we understand why people may be unhappy with everything that has happened and we are committed to keeping our fully functional game online.”

Yes, I would feel obligated to keep my game online if all I did was sell over $1 million worth of content to customers of this game.

According to block verse Team said the plan was they would return “once everyone had time to calm down”. Which many in the community doubted, so why PC gamer reported that so many of them started a separate discord server and started trying to track down the people behind the project to find a solution.

A person from that separate server spoke to me PC gamerexplaining that the people who bought into Blockverse have “a bit of paper trail” on the developers behind the project, including a Coinbase address and more.

“They thought they escaped,” said the user. “And now they know we have the trail they left.”

“We are disappointed that the community jumped to false accusations so quickly,” he said block verse Team. “But we still believe in our project, and so that everyone else can regain that trust, we’re having discussions with experts from space about how we can proceed further.” We intend to work with other trusted developers and community members and give them access to our website, servers and all backend infrastructure so that in people’s minds there is no risk of the project going offline. We’re aware of the damage we’ve already done, but we hope this gesture to the community can help us get back on track.”

Sounds like some people behind it block verse realized the legal issues they may be facing and are now trying to get their hands off the whole thing by handing over the keys to the community. However, it has been reported that while the creators are open to turning the project over to the community, they want to keep all the money. That basically sums it all up.

Another reminder that NFTs are just a big, giant scam His peddled by rich people, scammers and celebrities.