Another NFT project pulled the rug out from under its users. Blockverse is "an on-chain Ethereum NFT which enables P2E in Minecraft like no other." It is basically a private Minecraft server that allows you to earn money by playing-to-earn. Shortly after the announcement, 10,000 NFTs were sold for $120 each. This project netted over $1.2million. The creators deleted their website and Discord server just days later and closed the game server, taking all the money.
After three days of silence, some community members were able to find information about the creators of the project. The official Blockverse Twitter account issued an apology saying that while the project was legitimate and was proceeding well, it had experienced some hiccups including high gas prices.
"Hey, all. "Hey, all. We feel we owe everyone an explanation and an apology. The statement states that Blockverse was meant to be a great idea, and that we had spent a lot of time and resources on it before its launch. "All things were fully legal: our contract was validated, the game infrastructure was set up and launched successfully, even with some bumps in the road.
We failed to recognize and control all FUD [Fear Uncertainty, Doubt] in the midst our development. There were many issues including high gas prices, inability to hold everyone simultaneously, and low utility of $DIAMONDS. Things spiraled out of control.
Further, the statement explained that Blockverse team panicked after people began asking questions and growing frustrated. They then "deleted discord on impulse" and shut down all other resources to "prevent harassment from continuing." Blockverse claims the temporary measure was meant to be temporary. However, because the situation has only gotten worse, it will still take a few more days before Discord and Minecraft servers can be restored.
"We are disappointed that the community made false accusations so quickly. However, we still believe that our project is possible, and we are currently in discussions with professionals in this space about how to proceed." The Blockverse team wrote. We are willing to collaborate with trusted developers and community members to grant them access to our website, servers and backend infrastructure to ensure that the project does not go offline. We are aware of the damage we have done, but this gesture towards community will help us get back on our feet.
Blockverse users seem to not have been convinced by the statement. They believe that it was only issued to avoid prosecution because the creators were found out who their money was. Many users seem to be skeptical that there are any plans to move the project forward.
Blockverse community leaders are trying to take control of the project. However, the founders said that they would only hand over the codes if they keep 500ETH ($1.27mn), which they raised from the initial token sale.
The community leaders stated that they want the assets and 200 to 400ETH to hire workers to manage the project. "Most rug pullings don't recover much, so the community is open to a settlement. We are open to them keeping some. We only need enough to continue the project."