News Minecraft NFT Game "Blockverse" Evaporates With $1 Million

[Admin]

The unofficial Minecraft-inspired game "Blockverse" that has successfully raised more than $1 million by selling 10,000 NFTs has disappeared.

Minecraft NFT Game "Blockverse" Evaporates With $1 Million : Read more

 

[InvalidError]

The problem with NFTs is the same as games that require access to online servers to work for whatever reason even for single-player content: the whole thing becomes worthless the instant the managing entity decides to pull the plug. Same goes for cloud-based content "purchases" where you are screwed if whatever service you bought music, movies, TV series or whatever other digital-only cloud content from goes tits-up or gets into a license dispute with entities that control on-going availability on the platform.

 

[Deleted member 14196]

Yeah but who cares they’re getting away with it aren’t they? This is absolutely disgusting

Crypto is just another way for crooks to steal your money. The term crook applies to the governments as well

 

[USAFRet]

Similar:
https://www.vice.com/en/article/epx...led-to-be-infamous-fraudster-investors-shaken

 

[Phaaze88]

With crypto and NFTs, you are your own bank?
So if you can't handle that, you are more likely to screw yourself or get screwed? So if things do go south, like in the article, you're on your own, yeah?

 

[InvalidError]

With crypto and NFTs, you are your own bank?

No, the block chain is your bank, all you have is a wallet address that you use to make transactions on the block chain with.

Unlike banks, most block chains have no means of undoing transactions so whenever you get screwed over, your crypto is gone unless the crook is dumb enough to use a wallet managed by a known entity such as a crypto exchange and authorities act fast enough to get the receiving wallet(s) frozen until the case is solved.