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Unofficial Minecraft NFT Project Runs Off With $1.2 Million from Backers

Draugoth

Gold Member
Always fun to see Crypto-nutters getting scammed

source


It looks like 2022 will be full of stories like this. Yet another big NFT project has gone dark and made off with the money, after it promised backers a Minecraft PvP game with play-to-earn mechanics.

Blockverse sold out in eight minutes, raising a reported $1.2 million. But just a day later, its social media hasn't had any activity, the website link is dead, and its Discord server has shut down. Its NFTs are still listed on auction site OpenSea, but there's no word on the game that was promised.

This latest NFT controversy was spotted by Web3 is going just great, a project dedicated to shining a light on the more insidious side of the industry (which just happens to be a whole lot of it).

The Twitter account for the project is still live at the time of writing, but there hasn't been an update since January 24. The last two posts announce the Discord server (which now appears to be shut, as it isn't possible to join), and celebrate the huge success in just the first few minutes of the project's launch. Blockverse continues to sell Minecraft NFTs on OpenSea despite this, and it's unknown if the site is aware of the radio silence from the creators (OpenSea has been contacted for comment).
Even the pro NFT crowd isn't happy about this development. Twitter account NFT Ethics commented on the case, saying, "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?"

It goes to show just how prominent these apparent rug pulling schemes have gotten, when you have those in the NFT community calling for a centralised agency that approves sales. This goes against the entire idea behind crypto, but I guess losing a bunch of money to a rando online will do that to you.
 

StreetsofBeige

Gold Member
LOL.

I guess the same people who'd give $50 to a flea market vendor and say call him in a year when he's got the product in stock.
 
Man, I wish I could exploit idiots like that without coming into conflict with the law. Crypto is the best invention since the mafia. Or the state.
 

StreetsofBeige

Gold Member
Man, I wish I could exploit idiots like that without coming into conflict with the law. Crypto is the best invention since the mafia. Or the state.
Totally. And some people wonder why governments are weary about it.

$1.2M is nothing.

Just wait for some guy acting as a crypto mortgage or car loan broker asking people for $30,000 down payments in return for a cheap loan hidden away from government eyes. This guy will run away with $120 million pyramid scheme.
 

Draugoth

Gold Member
You shouldn't be skeptical of NFTs, man. They're just another storytelling tool for true artists, duuuude. Give me your credit card number, friend. You're not a hater, are you?

And do not forget that NFT open the doors for unseen levels of art theft.
 

SLB1904

Gold Member

Yawm
 
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