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Minecraft-Inspired NFT Game ‘Blockverse’ Sees $1 Million Rug Pull

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The unofficial Minecraft-inspired NFT game, ‘Blockverse,’ has turned out to be one of the latest rug pull scams within the crypto space. As a result, the game’s hopeful community are now sat at deadlock with its uncommitted developers, as both parties sit at the negotiation table whilst bargaining for retention over the project’s assets.

At launch, Blockverse raised more than $1 million from the sale of 10,000 NFTs priced at 0.05 ETH each (around $127). The possession of one of these NFTs would give the limited player pool of users access to the game upon its launch, essentially rendering them as ‘digital pre-orders’ of the game. However, promptly following the successful sale was the rug pull, which resulted in all community users immediately losing their funds.

After the project deleted all of its digital footprint, the game’s valiant community managed to track down a Coinbase address linked with the Blockverse founders. The address was found to be a primary contributor to the establishment of the game, along with having Cloudflare IP, meaning sufficient evidence was retrieved in order for law enforcement, or those with less civilized intentions, to warrant a visit to the founders’ identities.

3 days after Blockverse’s evaporation, its founder took to Twitter to explain the events. They claimed that the project was legit, and that its flight was nothing more than an attempt to protect their safety after they experienced harassment, threats and doxxing after several complaints came in regards to the gas fee prices for the NFT acquisition, the limited 10,000 player capacity, and lack of utility in the $DIAMOND tokens that only served as access licenses. 

The team also claimed that there was no reason for them to leave permanently, and that once a period of calm had been observed, they had the full intention to reopen their digital platforms. 

Irrespective of such claims, the community are seen to have lost confidence in the project’s founders, which has resulted in group initiative to cease control over the project. Interestingly, the founders showed openness for negotiations, as they have agreed to hand over all relevant contracts and code whilst keeping the 500 ETH raised by the initial token sale.

In response to the offer, community members have bargained for the founders to only keep 100 ETH, as they reportedly plan to use the remaining funds to hire a new development team.

The direction of the project remains ‘blocky,’ so make sure to stay up to date with the story via the Blockverse Twitter account.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.





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