The founders of Crypto Fighters Alliance announced the sad news on Twitter, mentioning a lack of funding as the main reason for the failure of the project.
According to them, only 25% of their mintable assets were finalized, and the mint also aligned with the big crypto crash, making the assets even less valuable for the company.
After a massive hype and a big hiring campaign, Crypto Fighters Alliance will not see the light of the day. The project is going to be shut down entirely, and the minted NFTs will become purely collectible items. The team deleted their roadmap, and will not develop the game any further.
This ends the “sequel” of Crypto Fighters, one of the first blockchain projects with gaming mechanics, started in 2018 and now rarely mentioned online.
The founder commented about this as a small success for the crypto community:
We’re proud of what we’ve accomplished and will continue to build in the space. CryptoFighters will always remain a historically significant project being one of the few from early 2018 and one of the first-ever blockchain-based games.
Elie Steinbock, co-founder and lead developer
Crypto Fighters: Refund Your Mint
Players can claim a refund until the 10th of June. This is a very generous move from the developers to make sure no one that doesn’t want to participate in an art-only project can get out without losing the initial investment.
Crypto Fighters Alliance developed a custom page to request a refund, you can find it here. This smart-contract refund system is made possible by the ERC721-R standard that was developed by the team. A smart-contract standard that is open-source and can be used by other NFT projects. To learn more about it, read our post dedicated to this NFT standard.
Anyone that chooses not to take a refund will be able to claim 4 free fighters, making their effective cost 0.016ETH per fighter instead of 0.08ETH. The claim will open up after the refund period is over. The current floor on OpenSea is 0.044ETH.
The original CryptoFighters collection is not going to be deleted. Started in 2018, the team aims to keep it live for many years to come.
Crypto Fighters Alliance doesn’t have a roadmap anymore, but the team is committed to keep working on Exodia, an NFT trading tool and to ensure the NFTs still have some sort of utility in the future.
As of now, there are no details over what the assets might be used for, but interested players and supporters could find the 4 free fighters a good incentive to stay on the lookout for new initiatives from the team.
We’re sad to see one of the first pillars of play to earn gaming fail and step out of the market with only 25% of the required funds to make the project work.
Bear markets can be tough, and we know most projects are destined to fail, but we wish the team all the best, and hope to see them try again in the future. We’re curious to see what they will come up with next.