Perhaps you’ve heard this before. An NFT project sells a ton of tokens and makes a ton of money for a product that won’t exist for a long time. Later, the money disappears with the project and those involved, leaving those who invested with nothing. Another incident may have occurred, this time with Blockverse, an unofficial Minecraft-related NFT project.
According to PCGamer, Blockverse was introduced last week as an “on-chain Ethereum NFT that enables P2P on Minecraft”. A private server that only blockverse holders can access. Even though this concept has been done for years without NFTs, there was a lot of hype surrounding Blockverse. On January 23, Blockverse released and sold approximately 10,000 NFTs. Which sold out in less than ten minutes, earning approximately $1.2 million in sales. It wasn’t long after the alleged making of all that money that Blockverse’s website, game server, and Discord account disappeared.
It was inevitable that a lot of people called the whole thing a scam and demanded answers. As community members sought out information about the project leads after some days of silence. Blockverse headed to Twitter and provided an update on the situation, as well as an apology.
Apology from creators
“Hey, all. We feel that we owe everyone an apology, and more importantly an explanation. Blockverse was supposed to be a great project, as before our launch we invested an enormous amount of time and resources working on it. Everything was fully legitimate: our contract was verified, the game infrastructure was fully set up, and our launch went well, albeit with some small bumps along the road.
After the launch, we went straight to work continuing development on Phase 2, a future expansion of Blockverse. In the midst of our continued development, we failed to realize and contain all the FUD that was going on through a multitude of issues, including but not limited to: gas fees being high, MC server not being able to hold everyone at once, and the lack of utility of $DIAMONDS. Eventually, things started spiraling out of control.”
After people in the community became angry and asked more questions, the Blockverse team panicked as anger grew. They wanted to know when issues with the server would be fixed, why fees were so high, etc. Following reports of “harassment, threats, and doxxing”. It was decided to just delete everything, with over a million dollars, and disappear into the night.
Blockchain’s team explained in a long, rambling statement that the situation has not improved. And there has been no chance to open up again yet. Although we have delivered everything we have promised, we understand that some people may be unhappy with everything that has happened. We feel it is our responsibility to keep the game fully functional.”
As per the Blockverse team’s statements, “once everyone had calmed down” they would return. The community was doubtful of that, hence why many of them set up their own Discord server. And began searching for the folks behind the project in an attempt to find a solution.
An individual from that separate server spoke with PC Gamer. Explaining folks who purchased Blockverse have “a bit of a paper trail” on the developers, including a Coinbase address. “They thought they got away,” said the user. “And now they know we have that trail they left.”
Bloackverse’s remarks on the situation
We are disappointed that the community jumped to false accusations so quickly, Blockverse said. The team is in talks with professionals in the space about how we might proceed in order to regain everyone’s faith in our project. Providing access to our website, servers, and all the backend infrastructure to other trusted developers and community members will eliminate any risk in people’s minds that the project will go offline. Even though we know how much damage we have caused, we hope that this gesture toward the community will enable us to return to normal.
Blockverse’s creators appear to have realized that they may be facing legal trouble and are now trying to clean up the situation by giving the keys to the community. Nonetheless, according to the article, the creators were open to handing over the project to the community, but they wanted to keep all the money.