The developers of Untamed Isles have paused its completion because investors are pulling out due to the recent crypto crash.
About Untamed Isles
Untamed Isles is an MMORPG similar to Pokemon but is more “adult”. Due to the crypto crash, the game developer Phat Loot Studio has run out of capital, so the developers put the play-to-earn function of the game on indefinite hold.
Kickstarter announced the game in August of last year. The game is different from Pokemon because there are no fixed monster species. The monsters have other body parts and unique traits. Each one looks and acts differently.
According to Phat Loot Studios, Untamed Isles is a “game first, crypto second” game because it doesn’t force players to deal with the blockchain. In its Kickstarter, the developers said the game has “play-to-earn” features because it allows players to tokenize any monster or in-game item and sell or trade it as an NFT.
A Costly Bet
Josh Grant, the head of the studio reports that the game relied a lot on crypto investors, but that many of them have left since the market crash. See what Phat Loot has to say about it;
“Since we started this journey in 2020, the economy as a whole and cryptocurrency, in particular, have changed a lot, and we are not confident in the market right now. Josh Grant said, “We ran out of money, so we can’t move forward with the project right now.”
“We bet on the cryptocurrency market and grew quickly because people were interested. When the crash happened, we were left with a short runway and a lot of open space. The game is still designed around the game, not the cryptocurrency, but “crypto funds have become and will continue to be essential to getting us to the release,” he said.
He also clarified that investors had used none of the funds to play in the crypto market. Instead, they had spent every penny on making the game. Grant said that if investors pull out, the game will have a source of income, so development will have to stop.
Worse is that Kickstarter backers won’t get any refunds either. This is because they have spent all the funds on development. Backers are angry now that they know this since many didn’t understand how this all worked.