Untamed Isles is a Pokemon-style MMORPG taking a more “adult” approach to the genre. As game developer Phat Loot Studio runs out of runs of funds due to the crypto crash, the play-to-earn mechanics of the game have been put on indefinite hold.
Last August, the game was announced on a Kickstarter. The game takes a different approach from Pokemon, as there aren’t any fixed species of monsters. The monsters are created with a number of different body parts and unique traits; all of them have unique aesthetics and perks.
According to Phat Loot Studios, Untamed Isles is “game first, crypto second,” as they don’t require the players to force with the blockchain aspects of the game. In its Kickstarter, it was mentioned that the game would have play-to-earn capabilities as it was supposed to allow you to tokenize any monster or in-game items that you could sell and trade as an NFT.
Josh Grant, studio head at Phat Loot, admitted that the game relied heavily on crypto investors, and the recent crash has caused those investors to back out. You can read the official statement from Phat Loot.
“Since we started the journey in 2020, the economic landscape has changed dramatically, 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,” said Josh Grant.
“We leaned into the crypto market and expanded rapidly off the back of the positive interest. When the crash came, we ended up heavily exposed to too short of a runway. The game remains game-first, crypto-second in design, but crypto funds have become, and remain, essential in getting us to the release,” he added.
He also clarified that none of the funds had been used to play in the crypto market; they used everything they received and spent it on the game’s development. Grant said that after investors back out, there is no source of income for the game – the development has to stop.
What’s more concerning is that Kickstarter backers won’t get any refunds either. The reason is that all the funds have been spent on development; no money is left to return. Backers are now furious as they discover this – many of them didn’t know how all this worked.
Untamed Isles was supposed to launch the early access on Steam on October 6. Now the launch is on hold (for God knows how long.
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