2023 has been largely positive for Web3 gaming, with big titles like Starfield, Baldur’s Gate 3 and Legend of Zelda being released. However, the gaming space has also witnessed several failures, from studios being closed down to big games flopping. Here are some of the blunders and fails recorded in the Web3 gaming industry this year.
Logan Paul Fails to Refund CryptoZoo Investors
Controversial wrestler and podcaster Logan Paul made lots of money during the 2021 bull run by promoting a number of meme coins and selling his own tokens that were intended to power his Web3 game, CryptoZoo, which he abandoned last year. At the start of 2023, Logan promised to refund investors of his gaming project, but he failed to keep his promise. The wrestler said he would distribute 1,000 ETH among the investors, but this has yet to happen.
His failure to refund investors saw him slapped with a lawsuit for defrauding the public through CryptoZoo. Another YouTuber, Henry Resilient, recently shared screenshots of legal documents revealing that Logan had fired his lawyers.
What’s shocking about the CryptoZoo project is that it could be created within a “few hours”, as proved by an Indian developer. In 2022, Logan and his developers spent several months telling investors the project was still being developed.
YouTuber Reveals His Wallet’s Seed Phrase
Crypto gaming YouTuber Ivan Bianco accidentally showed his seed phrase in August during a livestream. The incident left him $60,000 short, as some of the viewers used the seed phrase to access his wallet, stealing several cryptocurrencies. Bianco reported the matter to the Brazilian police, who did not seem to know a lot about digital currencies, so he decided to plea to his viewers to return the crypto.
Within a few hours, the YouTuber claimed someone had reached out and admitted accessing his wallet to steal $50,000 worth of crypto. Bianco said the unidentified person returned the stolen tokens. The remaining $10,000 has never been returned.
The Fall of Creator League
When it was announced, gaming project Creator League caused a frenzy among gaming enthusiasts, considering that it was being promoted by popular content creators like OTK’s Asmongold, YouTuber Mr Beast, and TikTok star Bella Poarch.
However, Creator League started crumbling when OTK tweeted that its content creators would no longer promote the project after discovering that it involved cryptocurrencies and blockchain. The marketing company claimed that Creator League developers did not inform it of such elements.
After the tweet, the gaming project faced criticism from social media users for allegedly hiding the fact that it was powered by blockchain. Following the backlash, the developers behind Creator League abandoned the project.
Unity Angers Developers
Game engine creator Unity introduced a new fee model in September, which many Web3 gaming developers did not like. Unity switched from a revenue-share fee model to a “runtime fee” model. That means game studios will be charged depending on the number of downloads of their games instead of the revenue generated. The biggest fear of developers is that the fees could be higher than the revenue realized by the studios.
A few days after Unity’s announcement, the company apologized and then walked back a number of changes. Notably, Unity’s CEO stepped down in October.
Redfall Loses Players
Video game publisher Bethesda released two games this year: Starfield and Redfall. The former has performed relatively well, but we cannot say the same about the latter. Redfall has received negative reviews since its launch in May, with The Escapist calling it the “most embarrassing game of the year.” Some critics have claimed that the game’s story is boring and that the many bugs reported in its code make it unsafe. These negative reviews saw Redfall lose almost all its users by October.
Meanwhile, Chris Akrhavan, the Chief Gaming Officer at NFT marketplace Magic Eden, expects several Web3 games to perform well in 2024 and more Web2 gaming firms to adopt blockchain technology in building games.
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