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Home News

Crypto WoW-wannabe Ragnarok loses $1.8M in ETH before it even gets off the ground

Forfeiting $1.8M in ETH by WoW-wannabe Ragnarok. One of the Avator non-fungible tokens, Ronin, is issued on the Ethereum network and has a minting cap of 7777.

Azmarine by Azmarine
August 29, 2022
in News, NFT
Reading Time: 2 mins read
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Crypto WoW-wannabe Ragnarok loses $1.8M in ETH NFT
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The collapse of Crypto has harmed yet another visionary streamer who aimed to combine MMORPG gaming, the metaverse, and the NFT. Ragnarok is not to be surprised by any existing massively multiplayer online game (MMO) that bears that name. Specific MMO aspirations, such as leveling up, looting, slaying monsters, and interacting with other players, are all features of this self-proclaimed “real metaRPG.”

One of the Avator non-fungible tokens, Ronin, is issued on the Ethereum network and has a minting cap of 7777. Additionally, it is manufactured in a limited quantity. Because the game features a sample that can be played in the browser, eager players are required to connect to a crypto wallet before beginning the game. In the month of February, Fanferon, in his role as leader of the project to find a solution that can link blockchains and allow players to pay less for their gas fees, will be posting a series of blogs.

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Admire the concept of batch minting, and are currently discussing potential enhancements to the process. Discord Missiles revealed that the group’s objective was to “create something comparable” (as the name implies).

Crypto loses $1.8M in ETH NFT

The fact that the CEO has said in his blog that he has lost $1.827 million in the game in the ETH is one of the reasons that he is selling his position in ETH, as well as the fact that crypto values have been falling over the entire summer. During the second round, investors withdrew their support.

According to the company’s chief executive, his pay has been cut in order to cover all of the business’s losses. According to his calculations, the median income for the 56 core team members is $22,000. Despite the failure of the investment and Ragnarok, Fanfaron has been able to maintain his position as CEO of the game company because to a discussion he had with the other investors. The team is in the process of putting together a board of advisors and holding calls to perform monthly company reviews.

This project has a budget of $10 million, which will allow for the expansion of game features such as a party mode, a new arena, and an arcade.

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Azmarine

Azmarine

Crypto Enthusiast - Who is Fascinated how BlockChain can take over the world!

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