Neopes abandons NFT game plans after raising $4M
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NeoPets – the popular and long-running virtual pet franchise – has exited its Metaverse and NFT game operations in January 2023 after receiving over $4 million in funding from Avalanche and Polygon.
At the time of its cancellation, the game had sold over 9,000 Solana NFTs and received $4 million in investment from backers such as Polygon Ventures and the Avalanche Ecosystem Fund.
We are excited to announce the investment in @NeopetsMeta!
Neopet is a timeless IP and Blizzard is excited to support their goal of building an eco-friendly, fast and low gas exchange experience.
— Blizzard Fund (@BlizzardFund) January 19, 2023
The company recently announced the cancellation of its highly anticipated NFT game Neopet Metaverse; In an announcement on Monday, NeoPace is pouring resources into the non-crypto mobile game development world.
This dramatic change comes just a few months after Neopet Meta CEO Dominic Law expressed his enthusiasm for the NFT game's potential in an interview with Forbes in March, saying, “Neopet was one of the first online games to introduce the world of the Internet to its players. That's what we're trying to replicate with Neopets Metaverse.”
In the official cancellation statement, the Neopet team, also known as TNT, explained their reasons for abandoning the NFT project.
“TNT took a close look at all of Neopet's ends, and after doing so, the decision was made to move away from Neopet's Metaverse game and share the development of a game that we felt could best reflect those resources. Values and Vision.”
This departure for the traditional gaming model coincides with Neopets breaking away from past corporate ties, marking its first sign of independence in 18 years. Now as World of Neopia Inc
He also pledged to continue his support of the Web3 community by ensuring benefits for NFT owners, including in-game currency and digital items: “The Neopets Metaverse discord will continue to be a place where digital collectibles connect with each other.”
Neopet's new direction, however surprising, promises a return to normal territory for the nearly 25-year-old franchise. The company updated its website in 2011. Scheduled to launch on July 20, it will reboot old Flash games through an emulator.
But nothing is said about the 4 million dollars collected for various development.
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