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Does Metaverse hang by a Thread?
The cryptocurrency belonging to this world plummeted to catastrophic levels and its team has canceled it from the market
Despite the fact that the word Metaverse has been created a long time ago, Mark Zuckerberg with his dreamy speeches and lover of this pronunciation, took it as his own and has not sold them as everyone's future.
In this virtual world where, according to Zuckerberg's explanation, "Get closer, don't move away", several NFT games have been integrated with expectations far above the usual. How are The Sandbox or CryptoMines.
The latter, declared bankrupt a few days ago, and will now carry out a rework, or a rethinking of the platform.
Does this mean that the Metaverse is also bankrupt? You want to know! That is why you will continue reading this article.
CryptoMines as the promising game of the Metaverse
This game has Latino creators and its growth was massive from October to November. Although its creation has been open to the public since September.
Following the Zuckerberg announcement, the game increased in market value by 10,000%.
People wanted as quickly as possible to get what Zuckerberg wants to sell us. So they ran into the light without straying, down to what is known as CryptoMines. Because it is from the little that is in the Metaverse, right now.
The fascination of growing up in this game to earn more of the virtual world token, won him many fans.
What is CryptoMines based on?
A Play to earn game, which allows us to earn money within the science fiction story that they tell us.
It is based on going in a spaceship and going through complicated worlds where game tokens are found. Earning points with each victory and with each worker you hire to be within your crew.
This is usually the investment, each worker has a daily payment of USD $1, which is made within the game, of course.
The more workers you have in your team, the more points you will have and will grant you the possibility of reaching the 30 existing planets of this science fiction world.
The fall of your token
The game's token goes by the name ETERNAL, and it was just amazing in the middle of the NFT video game heyday.
As we had mentioned, in the month of September it was trading at USD $0.7. When after the announcement of the Metaverse the cryptocurrency jumped to USD $800.
This rise was good for the players who came first to this virtual world.
This in the following months, diminished. Until a few days ago it dropped to the paltry number of $4, compared to $800.
Obviously the loss was totally an exponential decline, and people lost their investment in less than a week or a little longer.
Reason for the downfall of ETERNAL
They claim that the reason for their drop came as a result of an ad published by the creators of the game on their online pages; where they claimed that they had a large amount of tokens withheld from the game to stop the inflation of the currency.
The difficulties that the players had had during the week to get ETERNALS, added to the published news, immediately angered the participants who had placed their investment since October; Since the concerns were immediate and the credibility of the project was hanging by a thread.
The currency was going down, as many players decided to abandon their crew and those who remained held back from selling, as they waited for the token to rise again.
The impudence of the Rework
The surprise of the cancellation of the project came when it reached the price of USD $4. Even though it had entered that state, it was believed that what the programmers would actually do would be to release the tokens and maintain an internal economy with potential to rise in this way.
But apparently that idea did not cross their minds for a moment. And so they unexpectedly canceled the project.
We all agree that this is nowhere near something that would make a player feel safe.
After announcing their cancellation, the explanation that they would be back from scratch in a short time was even more impressive to believe.
That is, no user record would remain in the databases and the project would be released as if none of the above had happened.
They commented that they had no plans to return the investment of the players who had lost due to the decline in the ETERNALS cryptocurrency, but that they had them in mind to give them an extra bonus class when they were reinserted in the new version.
Only with the intention of giving you help to get your first tokens from the CryptoMines rework.
CryptoMines damages the credibility of the Metaverse
The loss of credibility is already a totally true fact, in this way the probabilities that the renewal of this game will be a success is bordering on the word "Impossible".
But as decaying as the CryptoMines news may have seemed, the stain left on the Metaverse will be easy to clean up. Even easier, having Meta as a company behind everything.
The projects that they already have for the future and technology to another level, despite sounding very like science fiction, are possible to achieve and have a very extensive fame, almost reaching excessive consumerism.
It is only hoped that the situation for the players had not been so traumatic, and that the NFT projects are not tainted by organizations that have lack of control with their token and do not know how to handle it.
