Kickstarter project fails off the back of bad crypto investments

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Updated September 21, 2022 | Published August 22, 2022

2 mins read

A Kickstarter video game project which heavily features crypto elements heavily, may have backfired after the owners of the project admitted that cannot finish development.

The project, Untamed Isles – Pokémon, has been paused having raised $500,000 in a crowdfunding campaign. It will not be able to refund any contributor as of right now.

Part of this is attributed to the fact that the company had reportedly spent the money on cryptocurrency investments that backfired, Kotaku argues in a new article taking a look at the issue.

Contributor Luke Plunket likened the company’s way of managing user funds to “gambling on the cryptocurrency market”.

The company admitted that they had no cash reserves left and that original backers would not be refunded. The company added that it was “sorry about this and wished things had been different”.

A torrent of appeals was unleashed within hours of the update on Kickstarter with consumers asking for their refunds and repeatedly calling the project and developers a scam, same as crypto, according to many.

This news comes as a surprise as it was only a few weeks ago when the project confirmed that an early release date is set for October 6, 2022.

This is no longer the case. That is why it’s better to spend your crypto holdings on anything but projects that have not proven their merit.

Instead of backing Kickstarter crypto games, you may find thousands of viable games at Bitcasino, 1xBit or FortuneJack.

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
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