Another crypto game, Untamed Isles, is currently on “hiatus” due to the recent cryptocurrency crash, and crowdfunding backers aren’t getting their money back.
The “monster-taming turn-based MMORPG” found success on Kickstarter in 2021 raising over $522,530 USD, but as reported by PC Gamer, development has halted due to simply running out of money, and backers also won’t be offered refunds.
“To work on this project we brought more than 70 staff members on board and we were working relentlessly for more than two years to build the game we all were dreaming about,” wrote developer Phat Loot Studios on Steam.
“The truth is that the cost of development is high and there were lots of bumps on our way to this moment. Since we started the journey in 2020, the economic landscape has changed dramatically both generally and specifically for cryptocurrency, and we are not confident in the current market. We ran out of financial resources and we can’t carry on the development at this moment.”
The post goes on to explain that while the game is a game first, and crypto-second in design, crypto funds became essential for keeping the game afloat. “We actually have a great game design that could stand on its own two feet. But until the crypto situation is resolved–and we’re confident it will be at some stage–then we have to hibernate development on this project.”
Investors and those who pre-purchased the game and Phat Loot Tokens will apparently be given refunds, though anyone who backed the game on Kickstarter and Backerkit won’t. In an FAQ on the game’s website, Phat Loot explained that refunds won’t be offered to backers quite literally because of its “cash reserves being empty.”
Numerous comments on the Kickstarter announcement post are asking for refunds, with several noting that crypto is a scam. “Really disappointed by this–I put money into funding this game to back a game, not to throw money into the crypto market,” wrote one commenter.
It’s important to note that the inclusion of cryptocurrency in the game wasn’t made entirely obvious in the campaign, which is why a number of backers have expressed confusion at the situation.
There’s no word on when development might start again, though the lack of cash reserves doesn’t paint a favorable picture on the game.