Untamed Isles MMORPG Controversy – Used Investor Funds For Crypto?

Untamed Isles MMORPG controversy is making the rounds, with Phat Loop Studios, the business coming under criticism last week for leaving their Kickstarter and crypto-funded MMORPG game Untamed Isles.

The company is now disputing allegations that they misappropriated their backers’ cash by investing in cryptocurrency.

Untamed Isles MMORPG Controversy

The business came under criticism last week after declaring a “hiatus” in the production of its Pokemon-like open-world video game, with some in the community accusing the developers of using game development funds to speculate on cryptocurrency markets.

The developers behind the project, which earned over $525,000 US dollars, or $841,000 New Zealand dollars, on Kickstarter, asserted on Wednesday that all money raised was spent by the company building the game.

The firm indicated that the break is due to the fact that the company exhausted its available money after”many investors” withdrew lately “due to worries about both the economic market and the crypto market.”

According to the first statement regarding the suspension, the project was scheduled to be released in October. However, Grant indicated that the project’s progress had been halted because the corporation was unable to “financially keep up with the demands.”

Grant indicated that the major reason behind this was that the “economic environment” for cryptocurrencies was shifting, making it difficult to continue pursuing the project, which hired more than 70 personnel to work “relentlessly for more than two years” to create.

“The crypto market crash meant that investors that were lined up earlier this year pulled out” who was necessary to “make it through to our runway to launch,” said Grant.

People Are Outraged

The game was originally intended to debut with nonfungible token (NFT) technology, however, this was eventually scrapped in favor of an optional external marketplace.

About a year ago, I was approached by @UntamedIsles (a Pokemon inspired MMO-RPG) to help oversee and design their combat system. I think what we came up with is REALLY interesting and a fresh take on the genre, and I’m so excited for everyone to be able to play it.

— Wolfey (@WolfeyGlick) August 5, 2022

Many people were outraged, questioning the legitimacy of using the cryptocurrency market crash as an excuse for the project’s failure if it was based on “game first, crypto second.”

It is unknown how much the project intended to integrate cryptocurrencies into the project, but Grant noted that until the crypto situation is sorted – and they are convinced it will be at some moment “then we have to hibernate development on this project.”

Please read the latest update on the status of Untamed Isles:https://t.co/1EEieVHmxY

— Untamed Isles (@UntamedIsles) August 11, 2022

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