CryptoFights, the once Enjin-powered game, and early adopter confirmed yesterday their intentions to switch over to Bitcoin SV. This has created more questions than answers, as the Enjin community and early CF supporters, digest the ramifications of this decision with multiple and valid arguments.
It’s no secret that scalability and transaction fees on Ethereum are some of the hottest and challenging issues. We read a lot about the Ethereum 2.0, and it’s sharding technology that promises to change the landscape on the world’s leading dapps blockchain.
A legit question an Ethereum developer should ask himself is if the platform can handle the game, while another could be whether the game will go mainstream before Ethereum 2.0 arrives, but is that the case here?
Ditching Enjin for Bitcoin SV
Back in January 2019, CryptoFights hosted one of the most successful items pre-sale, with almost 3,500 chests sold at the cost of $25 each. The particular sale raised around $85,000 and the majority of contributors were from the Enjin community.
The reasons CryptoFights is leaving Enjin for Bitcoin SV are highlighted in the Kronoverse’s blog. Among others, they stated that Ethereum is slow, the scalability updates are experimental, and the transaction fees are expensive.
CryptoFights pledged to support the ERC-1155 token standard for all the in-game items, and this move has resulted in negative impressions. Having a look at CF’s address, you can see that the total amount of Enjin in this wallet was 545,084, which is 90,000$ at the time of writing this article.
The controversial move does not only include migrating CryptoFights to BSV, but also developing a new wallet, and a marketplace. At the same time, Enjin’s platform has one of the most powerful and secured cryptocurrency wallets with over 500,000+ downloads on Google Play alone. On the other hand, EnjinX, a digital goods trading platform, has gone live since December 2018 with quite a success.
Developing a game is a time-consuming and challenging process. If you add to the equation a cryptocurrency wallet and an assets exchange, it sounds laborious and requires employees with specific skill sets.
eGamers.io reached out to Adam Kling, CEO of Kronoverse and CryptoFights, who said that the game will honor all the sold items by exchanging them to the BSV equivalents.
Ethereum & Enjin community rages at CryptoFights
Since the news came out, the Enjin community reacted negatively, with many people asking for a refund and hundreds of disappointment comments.
Many players who invested in CryptoFights are indeed outraged by the blockchain switch. Enjin’s underline technology was a significant factor for their investment, and switching over to BSV could potentially vanish the value of their tokens in case something doesn’t go as planned. Some people have bought dozens of loot boxes because they believed not only in the game but also in the Gaming Multiverse, in which CryptoFights is no longer a member.
A credible source stated that CryptoFights sold in the marketplace Multiverse items provided by Enjin that were supposed to be given away and used for in-game experiences.
In our question whether, CryptoFights was under contract with Enjin, and if they received any financial support, Adam Kling replied negatively.
Is CryptoFights copying Enjin’s tech to Bitcoin SV?
The decision to abandon the platform that helped you raise $85,000 should come with a reasonable explanation. And while you can find some in the official announcement, our source says that BSV has provided the necessary funding to copy Enjin’s tech and put it on the BSV chain.
After all, don’t forget the cryptocurrency wallet and the exchange platform that would require a tremendous amount of time, something that could potentially push back the release of the game, which is expected to launch later this year.
On May 1st, 2019, CryptoFights received an investment from Calvin Ayre, a pivotal investor to the Bitcoin SV network with Adam Kling, stating that BSV has the massive scaling plan to handle large data files for recording the enormous amount of data they plan to utilize.
What will happen with the existing CryptoFights items?
All enjin backed items will be exchangeable for the Bitcoin SV ones once the platform is ready. After that, players can melt them and receive the base value, which is no way close to the current selling price on EnjinX.
CryptoFights will still honor the MFTs by providing another one on the BSV chain.
To all the CF item holders, we advise you NOT to melt any items until you get the BSV ones.
Time to build, not to sell
Enjin has changed the way games crowdfund by selling items before the game is ready. It’s a way to fund development and most of the time it works, as long as there is a good demonstration that people will like. The same happened with CryptoFights, and now they are changing camp, leaving the community wondering what is going on. Some members stated the obvious, after two years, the game is still not delivered, and now they are changing blockchain.
Once again, i would like to remind everyone that digital goods are part of a rapidly changing and speculative market, do not invest more than you can afford to lose. Do not make investments at all. Play the game first and be 100% sure about it. Treat them as games and not as investment opportunities.
Business is business, and games are no exception. I do understand how significant funding is for the viability of a project. Still, stepping away from those who build your community and helped you raise 85k in a matter of a few days sounds like a wrong thing to do. In the next weeks, Kronoverse will announce the CryptoFights public beta date.
George has a native interest in emerging technologies and he’s a strong advocate of decentralization. He is the founder and manager of egamers.io as well as an IT student.