Despite a $4 million crypto investment, Neopets cancels game.

Neopets Cancels NFT Game Despite $4 Million in Funding

Neopets, the popular virtual pet simulator web game, made waves in the crypto world with its NFT game venture. Backed by $4 million in crypto funding, the highly anticipated Neopets Metaverse seemed promising. However, the company surprised the community by abruptly canceling the project and focusing on a non-crypto mobile game called World of Neopets. This sudden shift has left many puzzled, wondering about the reasons behind this decision.

Just a few months ago, Neopets’ CEO, Dominic Law, expressed enthusiasm for the play-and-earn concept in Web3 gaming and the potential of NFTs within the Neopets franchise. The alpha version of the Neopets Metaverse was already in progress and had garnered over 9,000 Solana NFT sales. Notably, prominent investors like Polygon Ventures and Avalanche’s ecosystem fund had shown their support as well.

In a blog post, the Neopets Team, known as TNT, announced their decision to move away from NFTs and focus on a game that better aligns with their values and the wishes of their community. They emphasized that this decision was not made lightly and assured the public that they had considered all factors. With a new leadership team led by CEO Dominic Law, Neopets, now operating independently for the first time in 18 years, will be known as World of Neopia, Inc.

Despite the cancellation, Neopets expressed gratitude to its NFT holders and promised them perks such as in-game currency and digital items. However, questions remain concerning refunds and benefits in the new game.

The move away from NFTs came after facing backlash from some community members who viewed NFT games as scammy. Additionally, critics within the community and publications criticized Neopets’ NFT venture, describing it as “harmful” and “fracking your child’s memories.”

While Neopets previously believed in the potential of NFTs and play-to-earn features, the company has now taken a different path. This decision reflects the ever-evolving nature of the crypto world and the importance of prioritizing the needs and values of its fans to ensure a brighter future for the Neopets franchise.

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