Studio that developed an NFT game goes bankrupt after the fall of cryptocurrencies » Hero Network

It is no surprise to anyone to mention that the industry of NFTs and games with blockchain technology has become quite popular in recent years. Despite this, and as expected, the issue has taken divided opinions on social networks and is that many think that they have no use other than “stealing” or “fraud”. However, the only certain thing is that many of these projects are not going through a pleasant moment, since the fall of cryptocurrencies has affected them enormously. Even, thanks to it, a studio that was going to develop an NFT game went bankrupt.

Pixie Interactive, studio that would develop an NFT game, declared bankruptcy for cryptocurrencies

According to a report by Matjn Van Wezel, the Pixie Interactive studio behind the development of Nothern Guilds, a play-to-earn game, filed for bankruptcy after the harsh cryptocurrency crash. The problem is mainly that all the assets they bought as an investment, quickly devalued.

Apparently, Pixie Interactive would have invested thousands of dollars in LUNA, a cryptocurrency that “hit the ground” in recent months. This caused the studio to declare a loss of approximately $800,000. However, the controversy was not unrelated to the bankruptcy of the company, since the employees began to accuse the founders of spending the money that was destined for the studio’s taxes to make investments with cryptocurrencies.

With the company going bankrupt, Pixie Interactive employees lost their jobs. However, some of them are working hard to salvage some assets from Nothern Guilds, which will no longer be supported.

Other news that may interest you: Bill Gates thinks that NFTs are a scam and claims that they are based on the theory of the dumbest

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