Double digit numbers.
22Cans released their Web3 game Legacy and frankly the name is fitting because much like company head Peter Molyneux this one has already been forgotten to time. Legacy is pulling in numbers. Double digit numbers, but numbers nonetheless.
Back in 2021, Ars Technica reported that presales for Legacy NFTs reached over $54 million in volume, and I have to call fraud on that number. Only because that $54 million doesn’t seem to mesh well with 22Cans’ financial documents reporting that the company only had claimed a profit of 3.7 million pounds as of June 2022 and only 4 million in the bank with 177k in assets.
Did 22Cans create a ton of fake big transactions to make the game look more successful than it was? Was it NFT bros trying to pump the market up for their inevitable dump? I have no clue, I’m making no accusations. I’m just saying the numbers don’t seem to match up.
What I do know is that Legacy is traded on OpenSea, which means we can see exactly the kind of numbers this market is pulling. And it looks like Peter Molyneux’s new game has hit a dead wall on release.
Trading volume for the last 30 days amounted to 4.81ETH, or $2,315.94 by today’s conversion. Allow up to a 12% leeway in that amount due to the rise in ETH prices over the last month. The trading volume was 22 NFTs, which the website notes is a 90% drop. And the trading floor price went down to 700 GALA, which it notes is a 54% drop.
By the way, 700 GALA not a valid address. Also it evens out to about $22.46 in today’s currency. 64% of the stock is held by one account, which I have to assume is the developer account.
MMO Fallout is pretty much the only gaming site to talk about Legacy since its launch in October and at this rate until the game shuts down we probably will remain that way.
Some dweeb who spent four figures on this game is going to come in here and tell me how the game doing less sales in a month than your average McDonald’s franchise pulls in in a day is a good thing and I’m just stupid for not seeing it.
Otherwise I have no opinion on the matter.
MMO Fallout 