Web3 chess game developer closes game for revenue due to ‘severe fraud’
The developers of blockchain chess game Immortal Game are pulling its Play-to-Earn (P2E) and Invincible Token (NFT) features due to widespread fraud.
According to the December 13 announcement, while developers will continue to build Immortal as an online chess hub and may include more decentralized technologies in the future, the goal of Immortal to “create a real opportunity for people to earn money from chess” has fallen short.
“By offering an unlimited amount of money to enter, we encourage serious fraud on the platform and degrade the user experience for our legitimate player base who want to play fair and safe online chess,” Immortal's developers wrote. . An unintended consequence of offering money to players is increased unfairness.
Starting this week, the Immortal Game NFTs marketplace will be discontinued, and players will no longer be able to use the in-game P2E Checkmake token (CMT). NFTs, however, continue to exist on-chain. Users will no longer be awarded CMT by completing contests or daily rewards, although fiat currency rewards may be awarded for such tasks in the future.
“Your ETH and CMT balances will not be visible on our platform, but your wallets will hold these tokens. For those who use escrow wallets, you will need to link a private wallet to transfer your assets.”
At the time of discontinuation, Immortal Game NFTs had a lifetime trading volume of $885,600, and the CMT token had a fully diluted market capitalization of $360,075. NFTs are built on a game-oriented immutable blockchain.
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