Developers cut and run with over $1 million.
Today must be a day ending in Y, because yet another NFT game turned out to be a scam. Blockverse, for those who haven’t heard of it, was supposed to be a blockchain-based pvp server built on top of Minecraft using NFTs from the blockchain. It also promised play to earn mechanics. If none of this makes sense, you’re probably too smart to be scammed by such a ridiculous proposition.
However a lot of dummy investors looking to make short term profits off of the idea were not, and the concept sold out within eight minutes to the tune of 500 ETH ($1.3 million USD).
SOLD OUT IN UNDER 8 MINUTES???!!!
we appreciate all of you for supporting us and our community and cannot wait to start building??
Official Opensea link: https://t.co/7mJGB00iBD pic.twitter.com/klcMnl66Gh
— Blockverse (@Blockverse_NFT) January 24, 2022
Oh and Blockverse? It was a massive scam. The Discord is now gone, the website is gone, social media abandoned, and it looks like the rug has been pulled from under buyer’s feet. The incident has led Twitter account NFT Ethics to question whether a centralized authority should be established to vet NFT projects. A concept that would be funny if it wasn’t so stupid.
Just heard about the @Blockverse_NFT rug. The project sold out yesterday in less than 8 minutes (500 ETH) and had 792 ETH in secondary sales. Discord & website closed and the anon devs are gone. Do we need a federated entity that approves all NFT projects and its doxxed founders?
— NFT Ethics (@NFTethics) January 25, 2022
With NFT schemes proving to be a veritable playground of fraud and thievery, those looking to get in early on NFT games should remember the age old adage; let the buyer beware.