"We ran out of financial resources": Crypto-backed Untamed Isles fails to refund kickstarter backers after scrapping the game

sportskeeda.com:

In an ideal world, Untamed Isles would have been a cool monster-taming MMORPG that would have wholly integrated cryptocurrency into the world of gaming. However, there are many critical nuances in video games, and the matter becomes even more complex when there are NFTs involved.

This has resulted in the developers going bankrupt, and to make matters worse, there's simply no money for them to refund those who have supported the Kickstarter campaign.

The introduction of cryptocurrencies in video games has been the latest fad where the "Play to Earn" model has recently been heavily promoted. The method is different from how games have been traditional, as gamers can now look at the virtual worlds as a medium of investment rather than simple fun.

However, there has been no shortage of controversy with the proposed plans, as many feel that video games shouldn't have so many complexities. Implementing such things can be costly, and the developers of Untamed Isles have learned it hard.

The scope of Untamed Isles was extensive, and developers Phat Loot Studios were open about their goals with those who had backed them on Kickstarter. Supposedly, there would be a tokenization system of the in-game assets associated with Direwolf.

Players would also have gotten a vast open world filled with exciting adventures. There will be a provision for the "play to earn" model, as players would be provided the opportunity to play with friends and engage in PvP combat. Things didn't look too bad as the studio continued to draw more than $500,000,000 in funding and development.

However, cryptocurrency's volatility is a significant risk, possibly ending the developers' dreams. To make matters worse, they don't have the funds to refund the investors