Neopets NFT Game Cancelled, Despite Investment

Regardless of elevating $4 million in funding from crypto corporations comparable to Polygon and Avalanche, Neopets is shying away from NFTs and making a recreation that higher displays their values and imaginative and prescient. This shift has left the group puzzled. Right here’s all the pieces it’s worthwhile to know.

TL;DR

Neopets garnered consideration with its NFT recreation backed by $4 million in crypto funding. Nevertheless, the extremely anticipated Neopets Metaverse was abruptly canceled, and the corporate is now specializing in a non-crypto cell recreation known as World of Neopets. Thus, leaving the group puzzled concerning the causes behind this main shift.
The Neopets CEO, Dominic Regulation, beforehand emphasised the potential of NFTs and play-and-earn gaming within the Neopets franchise. The alpha model of Neopets Metaverse was in progress, with over 9,000 Solana NFT gross sales and assist from distinguished traders like Polygon Ventures and Avalanche’s ecosystem fund.
Regardless of the cancellation, Neopets expressed gratitude to its NFT holders and promised perks like in-game forex and digital gadgets. The choice to maneuver away from NFTs got here after going through group backlash and criticism from publications. Thus, main the corporate to re-evaluate its course and prioritize its followers’ values and needs.

Neopets Cancels NFT Sport Regardless of $4 Million in Funding

Identified for its digital pet simulator internet recreation, Neopets made headlines with its NFT recreation enterprise, backed by $4 million in crypto funding. Nevertheless, the extremely anticipated Neopets Metaverse was all of a sudden canceled. Now, the corporate is opting to create a non-crypto cell recreation named World of Neopets. The choice has left the group puzzled, questioning what led to this dramatic change.

Just a few months in the past, Neopets’ CEO, Dominic Regulation, was vocal concerning the play-and-earn idea in Web3 gaming and the potential for NFTs within the Neopets franchise. The alpha model of Neopets Metaverse was already in growth, attracting over 9,000 Solana NFT gross sales. As well as, it obtained investments from huge names like Polygon Ventures and Avalanche’s ecosystem fund.

Nevertheless, in a weblog put up, the Neopets Workforce (often known as TNT) revealed the shift away from NFTs to a recreation that higher aligns with their values and group’s needs. They publicly assured that they didn’t take the choice calmly. With a brand new management staff in place, together with Dominic Regulation as CEO, the corporate claimed it will function independently for the primary time in 18 years, underneath the title World of Neopia, Inc.

Regardless of the cancellation, Neopets expressed gratitude for the assist round its NFT collectibles and promised perks for NFT holders. These perks embrace in-game forex and digital gadgets on the platform. Nevertheless, questions linger concerning refunds and advantages within the new recreation.

The pivot away from NFTs got here after going through backlash from some group members who considered NFT video games as scammy.  Additionally, many group members criticized the NFT group as an entire. Neopets confronted fierce criticism from publications as nicely. Some even described its NFT enterprise as “dangerous” and “fracking your baby’s recollections.”

Whereas Neopets beforehand believed within the potential of NFTs and play-to-earn options, it has now taken a special path. The choice displays the evolving nature of the crypto world and the significance of listening to the wants of followers to make sure a brighter future for Neopets.

 

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